Major repairs – like lift replacements, waterproofing, repainting or structural work – cost money. In many societies or buildings, those costs are shared through special charges or increased maintenance fees.
If big repairs are already planned or overdue, it’s good to know before you buy. You can then factor potential extra payments into your budget, or at least not be shocked when a large bill appears soon after you move in.
On the positive side, planned repairs and improvements can increase comfort and property value, so they’re not always bad news. But going in blind is risky.
A quick chat with the association, manager or existing owners about upcoming works gives you a clearer picture of what the next few years might bring financially.
