Boston condos for sale: Are home inspections necessary?
There are many reasons to buy a Midtown condo in Downtown Boston. Many are beautifully designed, centrally located, and are within condo buildings with fantastic amenities. However, before buying a Downtown Boston condo, you should know what a condo inspection is and how it can help you.
A Boston Beacon Hill condo inspection is very similar to a home inspection or the inspection of any other building that is for sale. It is ordered either by the buyer or the seller of the condo, and it consists of a thorough examination of the unit that will be purchased. The inspection will cover:
- Plumbing, including toilets and all drains
- Interior structure, such as the windows, walls, floors, and doors
- Ducts and vents
The short answer to the question of “Should I get a Boston condo inspection?” is a resounding yes. A thorough Boston condo inspection will provide you with recommendations as to what you will need to update and approximately when. This will give you insight as to what condition your potential new home is in. Identifying any current or potential issues through an inspection will provide you with an opportunity to determine if you would like to move forward with the purchase or ask for certain contingencies from the seller.
Many Downtown Boston condos, especially those that are up for sale, are made to look glamorous and inviting. It is worth the small hassle of calling in an expert who can look past the appearance to the functionality and safety of the building.
The vast majority of existing homes sold in the U.S. need one or two things to be patched up, with 86% of all home inspections turning up some kind of problem, according to a study by the home improvement website Porch.com.
The average home inspection can cost from $300 to $500 depending on where the home is and how big it is, but Porch.com’s study indicates that this is an investment that will save the average buyer around $14,000 in renovation costs.
A home inspection involves assessing the condition of things such as the roof, ceilings, walls, floors, foundations, windows, doors, major appliances, heating and air conditioning, plumbing and electrical systems. Most real estate agents agree that it’s essential their clients pay for a home inspection to ensure the home they’re buying is on a solid footing and won’t cause them headaches later.
But worryingly, the low inventory of existing homes for sale today has led to intense competition among buyers, and many are faced with bidding wars and have to offer well above a home’s listing price to clinch the deal. Besides making a higher offer, some buyers are also waiving the home inspection to make their offer stand out. Redfin said last year that almost 20% of the offers submitted by its agents waived the inspection contingency.
Any buyer who makes that decision needs to be aware of the risk, and just as importantly, the most common issues that home inspections can turn up.
Porch.com’s study shows that just over 19% of home inspections uncover problems with the roof. Home inspectors typically check roofs for things such as leaks, venting, the material condition, proper installation and any other visible issues.
Another common problem is issues with the electrical wiring, which turn up in 18% of all inspections. The most common electrical issues are reversed polarity, frayed insulation, DIY wiring, over-fusing, and mismatched wiring. About 51,000 fires each year are caused in homes by improper electrical wiring.
Another 18% of inspections discover problems with windows that can hamper energy efficiency and cause issues with indoor air quality, Porch.com said.
In addition, Porch.com said almost 17% of inspections turn up issues with gutters, 14% discover problems with the plumbing, and more than 12% find issues with the water heating system and air conditioning.
If you have other questions about condo inspections or you’re interested in viewing new luxury real estate in Downtown Boston, call 617-720-5454 and schedule an appointment with one of the experienced agents from Ford Realty. We only buy and sell real estate in Midtown Boston, so you can trust our agents to be experts in the local community.
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Updated: Boston Real Estate 2021