A new home warranty provides protection and coverage for certain aspects of a newly constructed home. It offers assurance to homeowners that the builder will rectify defects or issues that may arise during the warranty period. New home warranties are offered by homebuilders to provide peace of mind and also to address concerns related to construction quality.
Homeowners Protection Act
All new homes built in beautiful BC by licensed residential builders MUST be covered by mandatory, third-party home warranty insurance. This is one of the strongest construction defect insurance coverages in Canada.
The Mandatory Details:
- 2 years on materials and labour
- 5 years on defects in the building envelope, including defects resulting in water penetration
- 10 years on structural defects
It’s essential for homebuyers to carefully review the terms and coverage of the new home warranty before purchasing a newly constructed home and also before hiring a professional builder to bring their dream home to fruition!
Different builders and regions may have varying warranty provisions, so make sure you understand the specifics of what is covered, the duration of coverage, and the process for making warranty claims – this is crucial. If something happens to your home as a result of a defect, make sure you’re protected. At LUX Homes, we tend to all warranty claims promptly. It’s rare but things do happen.
New home warranties provide valuable protection for homeowners, giving them confidence in the quality of their new investment. If issues arise within the warranty period, homeowners can typically rely on the builder to address and correct them. Building a home is one of the biggest investments you will ever make in life and you need to ensure you protect your investment. Contact us today for all your questions on Home Warranty in B.C. or to learn more visit BC Housing Warranty On New Homes.
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