| Home inspection and condo inspection require many of the same home inspection procedures. A condo appraisal involves an inspection of the inside of a condominium unit as well as an inspection of the condominium complex it is in. Whether you’re buying a new or older condo, market values can vary greatly depending on location, amenities, monthly condo maintenance fees, size of yard if there is one, the property taxes, and more. Also, many condominium developments have strict guidelines regarding home improvements and how the condo can be used which will have an effect on market value. All of these need to be considered in a condo appraisal. Condo appraisal must take into account the costs of common property maintenance. That includes the upkeep of the grounds, painting of common area walls or hallways, repairs of siding and roofing, and more. Condominiums and townhouses are similar to a house, so you must inspect the condo unit you’re considering buying since it will be your future home. A home inspections should check everything, including the unit heating system, interior bathrooms, tubs, sinks, showers, plumbing, electrical, water heating, air conditioning, windows, walls, ceilings, attics, doors, cabinets, fireplace, stoves, dishwasher, washer/dryer, refrigerator, and more. Some condo problems may be hard to spot at first, such as a water heater that runs hot water when you’re doing you’re check, but won’t work after you’re run a bath due to an inadequate tank capacity. By testing appliances at the same time, you can determine if the electrical wiring and system is adequate and see if there are any blown fuses or tripped circuit breakers. Don’t assume that a condo inspection isn’t necessary if it is brand new unit. Even new bathrooms may have leaky plumbing joints, so be sure to test all the sinks, tubs, and faucet fixtures. Check the windows and doors well since they may have been installed in haste and don’t open or close properly. The fireplace may have a problem with backsmoking or may be just a decorative fireplace without a working chimney stack. If you have an attic in the condominium or townhouse, then take a look at the home insulation. Look at the ceiling of the rooms below to ensure it is a proper thickness and has an adequate r-rating for energy conservation. Don’t wait until you get your heating bill to discover something’s wrong. Don’t buy a condo without learning all the techniques of good condo inspection described in detail in Nemmar’s home inspection and real estate appraisal books and DVDs. With thousands of dollars of your hard earned money on the line, it simply a very smart investment. |
