Buying a condo can be one of the biggest financial decisions you will ever make. You want somewhere that will meet your long-term and immediate needs, whether you are looking to improve your quality of living, move closer to the city, or downsize to reduce maintenance. It is important to inspect the building and unit. Let’s make an inspection checklist so you can make informed decisions.
1. Verify access – Before you start an condo inspection in edmonton, verify that you have access to both the condo unit as well as the whole building. It may be necessary to arrange a meeting, collect keys and obtain permission from management to access common areas and amenities.
2. You should inspect the building. When you buy a condo you are purchasing into a whole community. You should inspect the entire building and condo complex. You should also inspect the common areas and condition of amenities before making a decision.
3. Technical audit – In addition to looking around, it is important to ask if the technical audit was done alongside the reserve fund audit. This audit can be used to assess the condition of a condo building that has FHA approval.
4. Condo documents – A personal inspection is only a starting point. You will need to examine all condo documents. You can request to see minutes of recent condo board meetings and contingency fund documents. Also, you will need proof of major structural costs, fees incurred, recent repairs, among other documents. Be sure to check historical condo fees increases, forecasts and other documents.
5. Heating and air conditioning – While you are inside the unit, take the time to inspect the heating or air conditioning units. Is it your equipment or part of a larger system? It is worth working with a professional property inspector during this process. An experienced person can check things such as filters, electrics and overall condition. Talk to the current owner for a breakdown of operating costs per season.
6. Ceilings, floors and walls – Your unit’s internal structure is your largest investment and can be your biggest cost if it fails. Cracks in ceilings and walls can indicate structural damage. Damp spots and stains may indicate leaking. Incorrect flooring could indicate previous damage. It is a good idea to work with a professional.
7. Windows and doors – Check the windows and doors for potential damage and future problems. Make sure that the window seals are in working order, the doors move smoothly, and that locks work correctly. These issues are important as they can affect your security, noise levels and quality of life.
8. Electrical and plumbing – A professional building inspector must inspect both electrical and plumbing. They can test appliances, electrical outlets and smoke detectors. Before scheduling inspections, it may be necessary for utilities to be activated.
9. Bathroom and kitchen – The kitchen and bathroom require particular attention. Before you sign a contract, it is important to address any issues in these rooms. Their condition is crucial as they are the most costly rooms to renovate. You should inspect the condition of the fixtures, appliances, storage systems, lights, and tiles. Pay particular attention to dampness, cracks, and other irregularities.