A leaked report reveals that condo owners in Nova Scotia are being left with large repair bills due to poor workmanship. CBC News reports that the document calls some builders “unscrupulous” and highlights a lack of accountability. The report dates back to 2013 and cites costs to condo owners of up to $60,000 for repairs. The report did not name individual buildings but questioned whether experts such as architects were sticking to their professional standards and points to a blame game being played between certain developers and others involved in the construction process. In all, 79 per cent of units were found to have some form of defect while 17 per cent suffered from a near-total building envelope failure. Nova Scotia does not have a multi-year warranty requirement to protect condo owners.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: