411homerepair.com

Essential Checklist for When You Want to Buy a Condo

by Guest on Feb 3, 2020

Buying a condo has its pros and cons, but it is a completely different experience from buying a single unit, a family home, or a detached house.

When you buy a condo, your apartment is completely within the boundaries of your walls, but the outside of these walls is considered joint ownership; this is something that residents own and manage together in a cooperative. When purchasing a condo, please follow our condo purchase checklist to make sure that you know exactly what you're getting into.

Here is our condo inspection checklist:

Ceiling and Floor

When deciding if the condo is right for you, you will want to look for stains on the ceilings or floors. This may indicate a problem with the roof or mean water is entering the building. Another thing to pay attention to is the distance between skirting boards and floors; you will want to do this because loose tiles or wooden boards can show traces of previous water damage in the home.

Walls and windows

This is another important part of the condo's checklist. Check the walls of the apartments for cracks. Cracks in the walls indicate a problem with the foundation of the building. The roughness of the walls can be as a result of water problems on the property. Additionally, stains on the windows or walls can clearly show mold problems. Finally, remember to open and close windows at least a few times to make sure they function properly. 

Age

Buying a condo is an investment, and you want your investment to retain its value. In general, concrete buildings retain their value and quality longer than wooden-framed buildings. Although there are many excellent wooden frame designs, they become less attractive for resale after reaching 15 years of age. In no way does this mean that you do not have to buy a building with a wooden frame, but you have to consider the investment time concerning the age of the building.

Strata Disputes

The strata minutes report will let you know if the property is actively involved in legal disputes. This is important because costs of legal disputes will be covered by owners or come from the strata contingency fund, which everyone must contribute to.

Necessary Documents in Connection with the Condo Suite

Let's face it: not all real estate agents function in the same way. Many real estate agents will try to encourage clients to buy without due diligence. However, a reliable real estate agent will not only connect you with suitable apartments on sale, but they will also make sure that all the necessary checks are done before you make a purchase. 

For example, when you purchase or rent a condo apartment, the status certificate received for it contains some information about reports on repairs, renovations, or maintenance updates that are expected in the coming months. You need to know about the estimates of the major structural costs that may be coming your way. Also, it is important to know if you will incur any fees for upcoming repair or renovation projects. 

It can be a clear sign of low funds if the maintenance is poor in the building. A low-reserve fund can prove to be a problem and a factor in your decision-making process. Before signing the dotted line, you will want to know what is being maintained in the building and how well the job is being done. 

Electrical system and HVAC

Before purchasing a condo, you will want to have the electrical installation of the apartment and the HVAC system checked by a professional inspection team.

If there is a centralized structure in the condo that you are reviewing, this should be looked into with greater consideration. It is also important to check the general function of the systems in the building. Also, you can call an electrician to properly test all the power outlets and check the possibility of any fire hazards in the property. Remember, this is a very serious matter and should not under any circumstances be ignored from the condo inspection checklist; the repercussions can be very serious if this part of the list is neglected. 

Condo Exterior

 

One final tip to add to your apartment checklist is to look at the outside of the condo. While many feel that this has nothing to do with their home, the outside of the building provides a good insight into the level of maintenance the apartment receives or requires. You will want to make sure there are no water stains on the walls or even cracks because these could be signs of something serious. Also, you can check that there is enough light near the entrance of the building (for safety reasons). Finally, if you are visiting during the winter months, you can verify that the pavement is free of snow and ice. 

Latest Articles

Homeowner In The UK? Here's Why You Need to Know about Rainwater Drainage Systems

In the United Kingdom, there is an average of around 1,200 millimeters of rainfall annually. Keeping rainwater out of your home and away from your...

on Feb 2, 2023

What are the Advantages of a Metal Roof

Metal roofing is durable and beautiful, allowing a home to stand out from others with conventional tiled roofs. A metal coating can last a...

on Feb 1, 2023

How Much Does it Cost to Install Hardwood Floors

There are specific considerations to make before laying hardwood flooring in your house. The first thing you need to know is that the price of...

on Jan 19, 2023

Home Maintenance Jobs You Need to do This Winter

Winter is the perfect time to get some home maintenance jobs completed. Not only are you stuck inside because of bad weather, but this same bad...

on Jan 10, 2023

Design Tips to Level Up Your Kitchen

Kitchens are the heart of the home. Aside from being where we cook and eat, kitchens can be our workspaces, spaces for relaxation, and - in the...

on Jan 9, 2023

Sponsored Articles

Actions

More DIY Articles

Lawn Irrigation

Homeowners have a choice of two different types of sprinkler-heads when deciding what is best for their yard. The spray and rotor head can both be...

Garden / Landscaping / Patio

Home DIY: Tools You Really Should Own

Even if you are not a homeowner or someone who likes DIY, you have probably come up against a situation where you were without the essential tools...

Tools / Woodworking

10 Ways to Invest Your Tax Refund at Home

Most people spend there Income tax refund on vacations and personal items. However investing your income tax check on home improvement can increase...

Real Estate / Finance

4 Quick Budgeting Tips for Saving for a House

Buying a home is one of the biggest milestones in a person’s life, and is therefore also one of the most expensive and perhaps one of the most...

Real Estate / Finance

Increase Storage Space In Your Home

One of the biggest problems of a homeowner is the constant need for storage space. The National Association of Home Builders (NAHB) recently...

Plumbing / Basements

Contact Us | Submit Article | 411homerepair © 2023