Condo Buying: Inspecting Above And Beyond
Having any home inspected is a vital step in your home buying adventure
, but it can be trickier when the home that you're purchasing is a condominium. A home inspection is basically an inspection of the home that you are buying. When you buy a single-family dwelling, the inspection is for all the pieces of that home that you are purchasing. This will include the interior of the home and the exterior of the home, including things like the foundation and the roof. When you buy a condominium however, you are not purchasing the entire building, so the official inspection generally does not cover the parts that you are not purchasing.
When you hire an inspector to come and check out the condo that you are looking to buy, let them know that you are concerned about the state of areas outside of your unit that could end of costing you money through association fees. Any concerns that your inspector conveys to you about areas of the complex that you are not buying will likely not end up in your official inspection report but they can still be very valuable to you when you are making a decision whether or not to make the purchase.
Generally, the areas that you may be concerned about around the condo complex that you are looking to buy in will be areas that could cost you in repairs in the next few years. Areas that you should pay particular to are roofs, parking areas, trees and landscaping, and communal recreation areas. If there are areas outside of your unit that will need repairs in the near future, your association rates could go up or you could get stuck with a bill for repairs not long after you move in.
It is a good idea to not only ask your inspector to take a quick look at areas that could end up costing you money in the near future, but also take advantage of the condo association meeting minutes to find out if there have been complaints of damage or needed repairs. These minutes can let you have a peek into any concerns that have been brought up in the past few months as well as if there are any expensive repairs slated for the next few months or years.
Depending on your area, your home inspector may or may not be able to help you look at all the areas of the condo complex that you are concerned with. If you have more concerns than he or she can help alleviate, ask them what your options are for further inspections that can help you rest easy that you are making the right choice.
Condo Buying: Inspecting Above And Beyond
By: Lina Horner
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