Tuesday, October 23, 2007

We're walking away.

Hardwood and I had an inspection on all the common areas of the condo building this past Saturday. The results were not good.

The roof is in terrible condition and it isn't a matter of if but rather when it will need to be replaced (a job that is incredibly expensive and intrusive). In fact, the roof violated a city code. Per code, only 2 layers are allowed. On our roof there were 4 layers in most places and, in some spots, up to 6! That's a lot of weight!! There was water trapped under the roof already as well. The chimney was in bad shape, which our inspector told us, concerned him just as much as the roof. The masonry around the exterior also wasn't in too great shape. And the list goes on! The building received an overall rating of below average. Yikes!! Not good folks, not good!

So we've decided to walk away.

We were depressed on Saturday but now we feel very, very relieved that we found all this out now instead of after we moved in. My advice to anyone buying is to spend an extra $100 or so and get an entire building inspection in addition to your unit inspection. Apparently, the vast majority of people out there do not do this. That money could seriously save you thousands of dollars!!! So please do not skimp on it!

Our mood now has turned to anger. We're pissed at the developers. They made the interior of the unit and the building gorgeous, but skimped on essentials. After talking to several friends who have bought and sold many places and who have worked in construction, I guess this is a rather common practice.

So remember, get an entire building inspection! You'll be glad you did. And if you want a bad-ass inspector, email me.


Mama Cardboard said...

Bummer. Will you keep looking or take a break?

Porcelain said...

We're going to take a break for the holidays and then start up sometime in the new year.

JaGoFF said...

Better safe than sorry!

The really scary thing is that if you did decide to take a chance thinking that a future special assessment would be covered by homeowner insurance, Think again! the problem would be considered a preexisting condition that you were already aware of and you can bet your sorry ass that your claim would be denied!



Anonymous said...

just keep in mind that no place is perfect and more importantly whether it's new construction, gut rehab, or "vintage", there are always going to be unknowns. and what seemed like a huge problem at the time (new roof) and was a pain and expense but we moved on. i'm afraid that uncertainty and expense are a part of home ownership.
good luck.

pvedesign said...

Chinese Proverb, Money can buy a house, but not make a home. Now, act like an adult and keep on looking, the perfect "cardboard" house must be out there!
Inspections are a must. We looked at over 150 homes and the inspector said, "This house was built like nothing I have ever seen, it will be here a long time" Stop your crying, get over it and move on!
check out my site, I'd love to illustrate the home you finally make! (or buy)

Porcelain said...

Oh believe me we never cried!!! We maybe wallowed in it for about a day, but we quickly got over it. And now feel super duper relieved. We're only taking a break now because we want to enjoy the holidays and my birthday. Wheee!!!

But we're still looking, online at least. And are feeling very exciting again.

And that would be lovely to have an illustration of our new home. My parents used to know an artist who did something similar and give neighbors and friends that as gifts. Such a great idea!