THE NEED FOR A RESPONSIVE CANADIAN INSPECTION VALUATION CALCULATOR

Over the past few decades, investment in the Canadian housing and home renovation market has increased exponentially, adding to the diversity and uniqueness of residential properties across the country. In fact, renovation spending in Canada reached $68 billion in 2014, surpassing spending on new homes by $20 billion (Financial Post 2015). This spending trend far surpassed the significant increase expected by Statistics Canada at the end of 2014, as shown by the table below. Many of these renovations are occurring inside the home, with billions of dollars annually being spent on unique designs, custom features, and high-end materials for the kitchens, bathrooms, and basements. As Canada’s leading national inspection company, RMS is also seeing a rising trend in out structure values designed for distinctive outdoor living and luxurious entertainment features throughout the home and property.

Driven by the need to produce accurate replacement cost valuations that are reflective of the Canadian housing landscape and responsive to unique features and designs noted during the inspection process, RMS has developed rmsPrecise, a rigorous and flexible inspection valuation calculator.

RMS EXPERTISE

With more than 70,000 property inspections completed annually and over 150 inspectors from coast-to-coast, RMS gathers and verifies millions of unique features and materials that impact replacement cost values every year. Our on-site assessment and knowledge of the local territory is critical input to the accuracy of each replacement cost valuation. Not only do we bring the unique knowledge of the specific property, we can also bring awareness of local dynamics in changing housing construction, neighbourhood revitalization, renovation trends in building materials, labour demand, and building codes impacting reconstruction costs in the event of a loss. With rmsPrecise, inspectors are able to capture and adjust for these unique variances, allowing RMS to track trends on variances that can then feed back into our costing methodology on a real-time basis.

Please contact us for more information regarding rmsPrecise.

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