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Rival Home Inspections
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This is a common question asked to realtors and home inspectors by our clients. A big reason clients think they can pass on a condo inspection is that the strata is responsible for much of the building
maintenance. However, there is a "big picture" reason and a "small picture" reason to have a condo inspection.
Big Picture Reason
When you buy into a condo building, you are taking part ownership of the building and land. This also means you own a portion of all the risks and liabilities of the strata. Typically strata’s can manage minor repairs and ongoing maintenance from the reserve fund, but when there is a major unexpected expense, they have to ask or demand the unit owners to pay extra.
Areas that are highest risk are building exteriors (leaky condos are still being discovered today), failed parking garage membranes, and water-logged balconies that need major remediation. Special assessments for these types of issues can range from $5,000 to $40,000 per unit and in worst cases, even much more. Lastly, any safety defects in the building (e.g. missing handrails on stairs) could become a potential lawsuit if someone injures themselves on the common property.
Small Picture Reason
Inside condos, as in other homes, we see issues with defective equipment and unsafe conditions. Having an inspection performed prior to the completion of the purchase will give you an opportunity to make sure the condo is safe for your family, and that all the components operate as expected. In the suite portion of a Condo Inspection, we often see issues with:
Electrical - Condos can have unsafe wiring changes including issues with aluminum wiring in older buildings. We also see electrical safety devices like breakers that have been configured in unsafe ways.
Water Damage - Bathroom showers are notorious for hidden water damage. This can be a major hassle in a small condominium that may have it’s only shower out of operation during repairs not to mention the possible expense of repairs to the suite below you.