The purchase of a condo is for many an interesting option when it comes to making a first real estate purchase. According to Statistics Canada, 1 out of 5 condo owners is under the age of 35. Many people wonder what the differences are between buying a condo and a house? Should you have a condo inspected? Stay with us as we explore 3 options available to you when buy a condo.

Option #1 | The inspection of the private unit

Although it is an important step in the buying process, the inspection of the coveted unit is too often neglected. It allows you to learn more about the general condition of the unit: the interior finishes, the windows, the presence of GFCI outlets in appropriate locations and other accessible electrical installations, the water heater and other plumbing components, and so on.

Unfortunately, the inspector is limited to the so-called private portion and therefore cannot judge the building in its entirety. For this, it is necessary to opt for the second option.

Option #2 | Inspection of the common areas

The advantage of the inspection of the common areas is that it allows you to obtain a picture of the building as a whole: exterior siding, roofing, common areas, everything goes through it! Although it is a more complete service, it also has its shortcomings. In addition to requiring the agreement of the syndicate of co-ownership, the inspection of the rest of the building can be very costly.

Furthermore, let’s say the inspector determines that the roof needs to be replaced. He will put this as an urgent item in his report. However, if the union has the funds and the work is scheduled for this spring, this is not a real problem.
But to find out if this is the case, you have to go with option #3!

Option #3 | Analysis of the condominium documents

The option that our experts recommend when buying a condo is the analysis of the co-ownership documents. By going through all the available documents – and believe me the list is long – our condominium specialists are able to paint an accurate picture of not only the state of the building but also of its management. They can tell you if the documents are up to date, if maintenance is properly scheduled and if funds are available. They can even give you a good idea of the atmosphere within the condominium through the minutes of the meetings…

In fact, this service allows you as a buyer to avoid many unpleasant surprises by ensuring that the funds are available for the maintenance of the building for the next few years. In addition to minimizing the risks of extraordinary contributions, it also gives you the opportunity to obtain clear and understandable explanations during a telephone discussion with one of our specialists.

And all this for a fraction of the price of a complete building inspection!

For an enlightened transaction, why not take advantage of our Combine and Save program to obtain a discount on the inspection of the private portion and the analysis of documents. This way, you will get the most complete picture possible while saving money. We also invite you to download our checklist on condominium documents available in French on our website.