With the increase in new condominium construction in Albany and Saratoga, buyers need to consider whether to purchase in an established building or new construction.
As a buyer it’s important to not only look at the finances, governing documents, offering plan, bylaws, and rules for the condo, but in the case of new construction hire a home inspector. The challenge with new construction, whether you’re in Albany or Saratoga real estate markets, is finding the latent defects.
According to the New York Times, if you’re buying new construction you should inspect the following:
Joseph Pasaturo, the founder of AVT Engineering and the chairman of the New York State Home Inspection Council, said that in this market, developers sometimes have to sell units for less than they had planned, so corners may be cut to make up the difference. For example, he said, in many of the buildings he inspects, builders have left out return vents in bedrooms. That means that a central heater or air-conditioner will not work well when the doors are closed because the air in the room cannot escape to make room for the new hotter or cooler air that your system is trying to pump in.
In other instances, he has seen developers save money by installing low-quality windows, and has found problems with wood floors, tile and even exterior stucco. “The building may meet the building code,” Mr. Pasaturo said, “but the shortcuts the developer took can affect your overall quality of life.”
Read the full New York Times article here.
Perhaps the most noticeable pre-war neighborhood in the Albany real estate market, is Center Square (12210). Center Square is less than a half mile from the state Capitol, and it’s home to many buildings built in the early 1900s, some as early as the late 1800s. While most of the buildings are townhouses and brownstones, there are a few well established condominium buildings that date back to 1905. Capital Hill Condominiums in one of the most recognized pre-war condo buildings in Center Square, Albany.