Real luxury and quality are often being compromised when developers think the best approach to beating competitors and generating sales is by waging a price war. Most don’t really care about
keeping standards.
Unfortunately, this results to homeowners experiencing latent defects overtime. Latent defect is a fault in the property that could not have been discovered by a reasonably thorough inspection before the sale. In other words, material latent defect is a physical defect that is not discernible through a reasonable inspection, and sometimes makes a property dangerous or potentially dangerous to the occupants, unfit to live in, and unfit for a buyer’s purpose.
Construction defects are not always immediately apparent and frequently the damage from a negligent act that occurs during construction does not manifest until years after construction is completed and the project is turned over to the owner. For example, water intrusion causing rot in a wall cavity. These defects are usually very expensive to be fixed, sometimes result to other damages and when factored into the cost of purchasing the property then you’ll realize it was never a good deal…
