Condos are highly attractive for those who don’t want to purchase single-family homes. Not everyone out there likes to have the burden of dealing with home maintenance procedures, which is why buying a condominium makes the ideal sense.
However, there’s often this misconception that condos don’t need home inspections because they’re not complex structures by any means. It should be realized that even though a condominium home inspection is a limited inspection process compared to a regular home inspection procedure, it’s still necessary regardless. Therefore, we have rounded up some of the major reasons why you should opt for a condominium home inspection process.
Top Reasons To Opt For A Condo Inspection
- Having The Condo Certificate Isn’t Enough
According to a professional service provider for a home inspection in Highlands Ranch, a condo certificate will contain details regarding the current condition of the condo along with the homeowner’s association.
The buyer’s lender (in this case banks or any other financial institutions) requires the condo certificate because it helps in assessing the financial & health status of the homeowner’s association.
For example, a bank might use the condo certificate to know whether a condo complex is occupied by renters or homeowners. Knowing such a crucial fact is critical for the bank because renters will not put much effort into maintaining the condo compared to homeowners.
Thus, even though the condo certificate can turn out to be helpful, a proper home inspection process will examine all the interior systems, which will help in unearthing any deficiencies or issues with the condominium.
- Building’s Warranty Is Over
If the building in which the condo is present is either more than ten years old or has already passed its warranty status, then the condo must be inspected for any potential problems.
The home inspector will also be checking the building status certificate to make sure that there are necessary funds in the condo reserve so that any common area issues can be addressed immediately.
- Checking Shared Walls
Since walls, ceilings, and floors will be shared with the other residents staying in the same building, the home inspector should always pay close attention to the same.
Any damage from water or other sources will be included in the inspection report and attic inspection will also be carried out to ensure that proper firewalls have been installed between the condo units.
- Assistance In Negotiation
During the inspection of the condo, in case the inspector comes across any flaws, then you’ll have three options before you:
- Ignore the issues and purchase the property.
- Ask the condo seller to amend the issues.
- Ask the condo seller to reduce the purchase price because of the deficiencies.
Thus, you get the option to negotiate with the seller and thus obtain a much better price than what you were being offered beforehand. As a result, you can make a proper investment decision.
- Feel Confident About Your Purchase
When you opt for a thorough home inspection process for your condo and it results in a successful one, then you can be happy & confident about the decision that you’ve undertaken. A proper home inspection will protect you from making a bad decision and thereby will not let your hard-earned money go down the drain.
Moreover, you’ll be happy to know that all your expectations have been fulfilled and finally you can enjoy your dream condo that you’ve always wanted.
Hence, even though condos are typically low on maintenance and are convenient to use, it’s always necessary to consider everything before moving in. With the help of a reliable and well-trained home inspector, you can make your purchase worthwhile.