Condo - to inspect or not to inspect!
Moreover, the steady rise in prices for low-rise homes in the Greater Vancouver Area may have an influx of individuals considering condo ownership. The Toronto Star reports, “Sky-high house prices, and a shortage of low-rise homes in the City of Toronto in particular, is also likely to drive more buyers to condos this year.”
With more people expected to pursue condo ownership over home ownership, there is additional emphasis being put on the following concerns: what is a Condo Inspection, and do I need one?
The Government of Ontario’s Ministry of Consumer Services has released a helpful guide for those new to the condo market, outlining what to expect when buying a condo, including a comparison of new versus resale units, condo fees and association memberships, and much more. With reference to inspections, the Ministry of Consumer Services says, “We recommend that buyers of resale condos get a Home Inspection. A quality Home Inspection will help you make an informed decision before buying a home. It will help you to understand a home’s condition and value.”
Many do not see the value in having a Condo Inspection performed. Condos are so different from low-rise homes, and this can lead condo buyers and real estate agents to conclude that they don’t require an inspection. There may be no access to the roof, no basement, no visible structure, and often no separate heating and cooling system – so what’s the point of an inspection?
While a condo does differ from a low-rise home, it still possesses the potential for issues, which buyers should be made aware of. Your inspector may not be able to gain access to the roof, but they will be looking for evidence of what is happening in the unit above
Is there any leakage or moisture seeping into you unit?
There may or may not be a complex heating system in your suite, but there are many other systems within your unit that will benefit from being assessed by a professional, like the electrical and plumbing systems.
Your inspector will also check your appliances, both for functionality and safety. Are they working properly? Have they been recalled for safety issues? At the end of your inspection, you will receive a detailed report of the issues that have been uncovered and timelines for maintenance.
Your inspector will also check your appliances, both for functionality and safety. Are they working properly? Have they been recalled for safety issues? At the end of your inspection, you will receive a detailed report of the issues that have been uncovered and timelines for maintenance.
Although many people consider a condominium to be low-maintenance, this is generally only true with respect to the common elements. Electrical, plumbing and heating problems that crop up within the unit can surprise many new condo owners. A leaking shower stall, water-damaged hardwood floor, and aging heating coil can each cost thousands of dollars to repair.
Having a Home Inspector go through your condo with you, letting you know of any existing issues, or areas where issues may arise, will help you gain a more complete understanding of what to expect should you become the owner .
Many condo inspectors have been trained to assess condos and do recognize that it is a very different type of dwelling, and perform their inspection accordingly. The Condo Inspections usually include:
- An inspection of and consultation on the systems within your unit, focusing on their current condition and how they should be maintained
- A detailed investigation of all major appliances
- A check for manufacturer recalls on appliances
- A detailed inspection report that documents the condition of systems, components, and appliances, including illustrations, technical diagrams, and helpful maintenance information
Contact Maria Mak @ www.mariamak.com - your local Metro Vancouver and Burnaby Realtor, she can help up locate the most professional home inspection services should you considering before buying.
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