According to the Wallstreet Journal, many Manhattan developers are now set on building large condos as an answer to the Big Apple’s growing upscale residents. Despite the population congestion, the city is still growing in demographics by allowing apartments with tens of stories built to serve lavish lifestyles. There has been quite a change in the Manhattan’s condominium properties. On 2007, the peak of the city’s real estate, the average new condo was only 1,265 sq. ft. Now, newer condos stretch into an average of 1,564 sq. ft., with a 24% increase as shared by the Corcoran Sunshine Mktg.’s Kelly Kennedy Mack.
While this change is evident in many popular urban areas across the nation, a new homeowner may wonder, “Home inspection is necessary when buying a house. But how about a condo?” The answer is simple—yes, you need inspection done in your new condominium too. No matter where your prospective condo is located, you need to have a credible property inspection program to back up your decision of purchasing a place.
Why Do You Need a Condominium Inspection?
The main purpose of a home inspection is to discover any potential issues with a house that may affect your decision to purchase it, or the price if you desire to sell it. It’s your right to know what’s going on behind the scenes of a particular property before finally committing to buy it.
Despite many differences with a regular home inspection, a condominium inspection is as crucial. Not only is it important to understand the HVAC, plumbing and electrical aspects of the unit, but you also want to know the built of your unit. Sound proofing and fire escapes are among the important things you should note about. It is also best to discover the items which the HOA could take responsibility of, and which potential problems should be tackled on your own.
How Is Condominium Inspection Done?
- Take note of the common elements. Most of the building systems in a condominium, such as plumbing, electrical and roofing, are similar to the other areas. In most cases, these factors are covered by the audits done by the developer and are not assessed during a stand-alone inspection. Any issues such as maintenance and renovation are always outlined in the owner’s status certificate which should be reviewed before the purchase.
- An inspection includes an assessment of just the specified unit. This includes assessment of major appliances and maintenance and service for the room. Your detailed investigation can be done easily with the help of a digital property inspection app to aid you in recording the report as soon as you inspect them.
- There will be a consultation of the systems done for each unit, with the inspector focusing on the utilities’ functionality and long-term use. They will also check for the manufacturer recalls on appliances within the condominium unit.
After the inspection, the expert assessor should come up with a detailed inspection report which states the evaluation of the condition systems, components, appliances and other parts of the unit permitted to be inspected. Illustrative photos and helpful maintenance data must be attached. In this modern age, this can be easily done with a property inspection software. Digital property inspections can be easily compiled with a tablet or a smartphone and is conveniently transmitted through email. This is your best helper in creating thorough home inspections, whether it is a mansion, a mid-sized home, a flat or a condominium unit.