BostonHerald
Getting a condo inspected
Friday, June 29, 2007 - Updated: 01:23 AM EST
A condo’s warranty inspection is far less comprehensive (and thus less expensive) than a house inspection is.
With a house, an inspector will evaluate all of a home’s components and systems, comparing them to code requirements and industry standards.
Smart house buyers have such inspections done before their builder’s warranties expire.
That way, purchasers can make sure their homes measure up to quality expectations. A comprehensive house inspection will also call a builder’s attention to any deficiencies that might lead to future problems.
Condo-warranty inspections are a little different.
These reviews only cover systems inside a particular unit - not the complex’s shared hallways, facades and mechanical systems.
After all, it’s the condo association’s responsibility - not yours - to keep shared facilities maintained.
Still, a good inspector will note obvious problems in shared systems. You can also pay extra for a little more in-depth inspection of these systems, provided that there’s easy access to them.
Regardless of what type of inspection you get, make sure you ask the condo association for a copy of what’s called the “reserve study.”
Condo associations usually have engineers and architects do these studies every five years to help determine how much money to set aside in so-called “reserve accounts” for repairs.
Reserve studies assess the age, condition and likely maintenance needs of a complex’s key structural and mechanical elements.
You should compare the reserve study’s findings with the condo association’s budget, which should spell out how much funds are in reserve for expected repairs.
If the budget doesn’t accurately account for anticipated work, you and other unit owners could face so-called “special assessments” down the road to pay for such projects.
Ask the condo board plenty of questions about this before finalizing your decision to buy a unit in the complex.
Two other tips:
Although an inspector will probably briefly switch on your unit’s appliances to make sure they work, give them a good test run yourself.
Schedule your warranty inspection at least one month before your condo’s warranty expires.
