Condo Inspection: Important Things for Buyers
If you’ve found the perfect condo and you’re ready to buy, you’ve probably realized that closing this type of property sale can be expensive. If there are no major issues, it makes sense to try to save money wherever possible and complete the property sale quickly.
Many buyers fall into this mindset, but acquiring a condo from the previous owner is a huge gamble. The good news is that you can make a conditional offer that requires the property to pass a condo inspection before the deal is closed
With that said, condo home inspections can help you evaluate a huge range of variables. From common areas to the water heater, air conditioning, and structural elements, understanding the different elements that home inspectors assess will help you find the best condominium.
To help you out, we’ve put together a home inspection condo guide. In it, we’ll share the definition of a condo inspection, tell you why this type of assessment is necessary, and explain the different elements that inspectors evaluate during the process.
What Is a Condo Home Inspection?
A condo home inspection is an evaluation that determines the health of a condominium property. This type of special assessment must be performed by a certified professional inspector and the process itself covers a wide range of elements.
The goal of a condo inspection is to identify serious problems and current as well as potential maintenance issues. Your certified inspector will create a detailed report once the inspection is complete.
With the above in mind, it’s important to note that a condo home inspection specialist will only perform a visual audit. This means that the condominium inspection won’t reveal issues with any internal systems, which usually prompts inspectors to safeguard themselves. As it’s industry standard, your condo home inspector will likely require you to sign a document that grants her or him legal protection.
Condo Inspections vs. Conventional Home Inspections
Most condo buyers ask if condo and home inspections are the same. In short, the answer is no.
There are many types of homes, some of which are located within the same building. However, these properties usually have an individual electrical system and similar setups for each one.
Condos, on the other hand, usually share electrical systems, plumbing lines, and other basic elements. Because of this, any critical part that malfunctions in one property can compromise the entire building.
Condo inspection professionals are trained to evaluate properties along with their surroundings. If you want to get the most from your condo purchase process, your best bet is to hire a specialized inspector that can identify warning signs that are unique to this type of property.
Is a Condo Inspection Necessary?
One of the biggest benefits of purchasing a condominium is that the condo corporation handles all external building repairs and maintains every amenity. But, this can make prospective buyers overlook the need for a condo inspection.
While condo living does provide great benefits, owners are still responsible for maintaining their own properties. Every individual condo unit should be maintained property to protect the integrity of the collection building systems.
A condo inspection will help ensure that the last owner gave proper maintenance to the property and that you’re acquiring a piece of property that’s worth the money.
Costs For Condo Inspections
The price of a condo inspection varies tremendously and it depends largely on your location, the size of the property, and the amenities within the condominium. You can expect to pay anywhere between a couple hundred to just under a thousand dollars. But again, there are many variables that can affect your condo inspection cost.
These include the:
- Closest large city
- The complexity of the individual unit and condo building
- Experience of the inspector
- Areas that your inspector will cover
Finding the Best Condo Inspector
Finding a great condo inspector can save you a significant amount of money and help you acquire the best home for your family. But, most cities offer dozens of options, so identifying the best alternative is not always easy.
In these cases, your best bet is to go by your real estate agent’s recommendation. Real estate professionals have access to a vast network of providers, so your agents should be able to find you a trustworthy inspector.
Alternatively, you can always opt for personal recommendations or your province’s property inspection association.
What Do Condo Inspectors Look For?
How long does a condo inspection take? What exactly do inspectors look for?
This varies from one property to the next, but most condo home inspections take anywhere from one to three hours. One to two-bedroom properties will take closer to one-and-a-half hours, while terrace homes may take more than two.
If you work with an agent or your real estate broker will book a time slot and organize the inspector’s visit. Your agent is in charge of giving access to the property, so you don’t have to worry about being present at the time.
While you find the best professional, here are a few areas that your condo home inspection expert will evaluate.
Large Outdoor Elements
Your inspector will likely start by analyzing the roof and other external elements if they are visible. Getting a good view of the roof can be tricky, but inspectors usually bring telescopic devices that allow them to see more precisely.
The floors are the first external elements that your inspector will focus on. Your professional will keep an eye out for loose boards, signs of water leaks, and sloping floors.
Next, your inspector will look up and assess the ceilings of your apartment. Any spots or potential signs that an integral part is damaged.
Deferred maintenance is a major problem for walls, so your inspector will look out for cracks and other signs of structural damage in your walls.
Inspectors assess the condition of condo windows by appearance and functionality. This includes insulation ability as well as general opening and closing.
The Kitchen, All Bathrooms, and the Boiler Room
The kitchen, all bathrooms, and potential boiler rooms are next. All of these have different environments than the rest of the condo, so it makes sense to assess them separately.
The Electric System and HVAC Unit
Your inspector will assess the visible part of your condo’s electric system. This includes the health and age of the wires in use as well as potential damage signs.
Condo Amenities and Other Elements
Lastly, the inspection professional will assess the condo amenities as well as additional elements like the property’s documents and surrounding elements.
It may take some research, but finding the best condo inspector can help ensure that you find the best type of property for you and your loved ones. Just make sure to find a reliable inspector and familiarize yourself with the different areas that your inspector will cover.
To find out more about purchasing the best property or finding a home inspector near you, contact Justo today and our team will be glad to help.