Home Inspection Checklist: Four Questions You Need To Ask About Condo Inspections

Just like how inspection has become a necessary phase before buying any house, so it does on a condominium purchase. The top reasons are obvious – for your own peace of mind and to get the value for your money.

Home-Inspection

What You Need To Know About Condo Inspections

Learn all you can about inspections in a condo environment. Here are four questions you need to ask if you’re considering to live in a PH condo, or anywhere else for that matter.

  1. How does it differ from a regular family house? Typically, the homebuyer will own everything in the residence – this means all components from the roof to the foundation. It is quite a different story for condominiums. With condos, the homebuyer will be purchasing a living space and the rest will be shared with other residents. Needless to say, the coverage is somewhat limited in condos.
  1. Is it really necessary? Regardless of the residential type, be it a single-family home or condominium, having the PH property inspected is a primary step that every buyer should undertake. In the case of the latter, issues related to electrical or plumbing may exist. Whether the building is newly built or more than 5 years old, your future home still warrants a physical examination. After all, it is not exempted from infrastructure or damage problems. For all you know, the unit has been occupied before and the former tenant used to experience troubles in the piping or wiring. Hence, it is an essential stage before sealing the whole deal.
  1. What is usually covered in the inspections? Every structure inside the unit is basically covered during the process. This includes the heating, electrical and plumbing systems, as well as the doors, windows, walls, ceiling, and floor. There are times when major appliances are thoroughly checked too to know if it has been recalled before. Identifying the history of service issues is likewise included. However, there are instances when the HVAC is within the responsibility of the board as it is a common element and not individually-owned. Hence, it is also important to find out what you’re getting so you’ll know exactly what you are responsible for.
  1. What are not included? The coverage normally excludes the common areas such as the lobby, hallway, elevator, roof, amenities and mainly those that are in the exteriors because they are not part of the specific unit or space that you’ll be living in. These areas are jointly shared therefore they fall under the responsibility of the board or association.

Home Inspection Checklist: Six Reasons Why You Need A Home Inspection

A home inspection is basically an examination of the property being sold. The scope covers the physical structure – i.e. its condition and age, interiors and exteriors and all the systems ranging from plumbing, electrical to heating and roofing.

Home-Checklist

Regardless of the residential type, be it a PH house for sale, a condominium, duplex or apartment, it is one of the key stages for homebuyers because the result can greatly impact the whole buying process.

Why You Need A Home Inspection

Find out why a home inspection is a necessary phase for every buyer. Here are the top reasons.

  1. To make sure that you get your money’s worth. Homebuying entails huge money investment so it is only sensible to ensure that for all the time, effort and money spent, you have made a wise financial decision and have not wasted a single cent at all.
  1. To have something to negotiate with. The complete assessment of the property can give you a bargaining power especially if the report states that repairs are required in certain areas. You can either have the seller take care of these issues prior to the purchase or you can ask for a price reduction after giving the seller a full estimate of the repair costs.
  1. To put your mind at ease. It does not matter if it is a new construction or not. The bottom line is, as a future homeowner, you have to be assured that the entire house and land for sale are safe to live in. You have to be 100% guaranteed that your new residence is secure and in good shape.
  1. To avoid potential costly damage. Whether you’re planning to hire an inspector or you’re doing it yourself, fact of the matter is, you’re still saving a lot of cash in the long run. Just imagine skipping the phase and closing the deal only to find out a few months later that there are big issues with pest infestations or on the structure itself.
  1. To assess future upkeeps. A good inspector is not only trained to detect problems but he can also make an approximation of the “shell-life” of your residence’s components such as how long before you need to change the air conditioner, etc. Knowing this can help you prepare for the maintenance expenses later on.
  1. To determine if it is a go or not. You can easily opt-out if you find big deal-breakers or safety hazards after the assessment is completed. If you are not comfortable with the findings, you have every reason to back out on the offer to buy.