The importance of your building maintenance plan - a buyer's perspective

Great advice regarding your building maintenance plan and the impact it has on your new or older condo's resale value!

For new buildings:
Most buyers think that they don't have to be concerned about properties built in the past few years. Think again. ... the coverage will be limited if your strata does not adequately maintain the building as specified by the warranty. ... lots of stratas don't do this because they don't want to incur the cost of the warranty inspection."

And for older buildings:
...even if they've been well maintained, there may be worn-out roofs, window systems, water piping and boilers that have to be replaced. ... Ask to see the long-term maintenance plan. If there isn't one, that's a concern.

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