Should I get a home inspection for a condo?
May 20, 2015
I don’t always think it’s 100% necessary for buyers to hire a home inspector when they’re purchasing a condo in Toronto. OK, there, I said it! Of course, it certainly depends on the condo building, its age and the level of comfort and knowledge the buyer has with home repairs but if I was to speak honestly, I think some condo inspections are a waste of money.
Alan Carson recently wrote a blog entry on condos – and being the Carson in Carson Dunlop Home Inspections, it’s a bit hard to believe he could be unbiased. His reasoning is “if you’re spending hundreds of thousands of dollars on anything, why wouldn’t you want a professional to inspect it and point out any nasty surprises before you sign the dotted line.” While that’s true, the fact of the matter is any home inspector I’ve ever met will only inspect your actual unit and not the common elements which is where most repairs are required on a regular basis. It’s rare that there are any issues home inspectors find in the actual condo unit itself. If anything it’s usually just little “clean-up items”.
What I do find inspections particularly useful for is giving a new buyer comfort and an understanding of how things like the chattels and fixtures work… of course in the end, I would never talk someone out of doing an inspection if they wanted to do one, but it’s important to know the limitations of what the inspector’s going to look at for the cost they are charging.
The interesting part of the blog is what is covered by condo fees and especially what they don’t cover. While this is in context of what an inspection would cover, it’s also important to know in case of a flood or fire.
Click here for the blog