The only properties with major defects in property are ageing buildings, right? Wrong! While older structures can develop structural issues over years of neglect or direct damage, they’re not the only buildings where major defects are a concern. There are a wide range of reasons why new strata complexes can have defects, leaving owners and managers to deal with the headache and expense of a damaged scheme.
How New Strata Complexes Develop Structural Issues
Though structural issues are often mistakenly thought to arise only after years of neglect on behalf of owners or strata managers, this simply isn’t the case. No builder is perfect, and even one with the most sterling reputation can and does make mistakes. Unfortunately, a mistake made during the construction process can have far-reaching implications for the entire project after completion.
Building defects happen, and they may not be noted if builders or scheme owners haven’t invested in stage construction inspections. By the time individual buyers begin purchasing homes within the scheme, those defects may be well and truly hidden. That is, until they rear their ugly heads and become costly problems for everyone involved.
Protecting Yourself from New Strata Complex Defects
In most practical ways, purchasing within a strata complex is no different than purchasing a single-family dwelling. During the purchasing process, you should insist on a comprehensive building inspection conducted by a professional building inspector, just as you would if the home in question was a historical home. All too often, new homeowners choose to forego a building inspection out of the mistaken belief that new strata complexes are in perfect condition, and that defects are no concern. These are often the very same homeowners who end up dealing with devastating repairs, or issues which can’t be easily rectified.
The primary concern for strata owners when it comes to defects within new strata complexes lies in the difficulty of rectifying or even discovering the issue in a timely manner. Because schemes are made up of so many individual owners, defects may not be discovered for months or even years after the structure have been completed. When problems are discovered, the owner’s corporation has almost no legal recourse because the builder’s original agreement is almost always with the original developer of the strata scheme. A single discovered issue can deplete an individual owner’s savings, or the entire sinking fund, if the problem lies within a common area. Special levies, paired with repairs which may need to be addressed within an individual residence, give strata defects the potential to financially devastate the people involved.
Don’t let defects in a new strata complex cost you money. Work with an experienced, professional building inspector, and protect your major real estate investment to the best of your ability.
Houspect Building Inspections– Buy, Build, Invest and Sell with Confidence
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