What You Need to Know About the New Home Warranty.
Buying a new home is an exciting experience, but sometimes things can go wrong. This is why the New Home Warranty for homeowners in Alberta and BC is vital to understand. The New Home Warranty protects new homeowners against defects in materials, labour, and design, and it can help provide peace of mind for those investing in a new home. Whether you’re a new homeowner or a prospective buyer, understanding the New Home Warranty will help you to make an informed decision when purchasing a new home and ensure that you’re protected in the event of any defects or issues with your property.
What is the New Home Warranty?
The New Home Warranty is a protection plan that covers new homeowners against defects in their newly constructed homes. In Alberta and BC, the New Home Warranty is provided by third-party organizations licensed and regulated by the provincial government. The warranty coverage can vary depending on the level of protection purchased by the homeowner, with most plans offering coverage for up to 10 years after the completion of construction.
The New Home Warranty typically covers the following:
- Major structural defects, including foundation, roof, and home framing issues.
- Defects in materials and labour include plumbing, electrical, and HVAC system issues.
- Home exterior issues, including siding, windows, and doors.
Homeowners who purchase a new home with a New Home Warranty should receive a written copy of the warranty document from the builder. This document outlines the warranty’s specific coverage and exclusions and the steps homeowners should take to make a claim.
Important Things to Know About the New Home Warranty
When purchasing a new home with a New Home Warranty, you must know several vital things to ensure you’re fully protected:
Understand what the warranty covers – Review the document carefully to understand what is covered and what is not. Different levels of coverage may have different exclusions and limitations.
Know the timelines for making a claim – Claims under the New Home Warranty must typically be completed within a specific timeframe after the completion of construction. Ensure you’re aware of these timelines to ensure you can make a claim if necessary.
Keep documentation and evidence – If you need to make a claim under the warranty, you must provide documentation and evidence to support your claim. Keep all documentation related to the construction of your home, including contracts, invoices, receipts, and any photos or videos that may help demonstrate the issue.
Follow the claims process – Each New Home Warranty provider may have a slightly different process. Follow the instructions in the warranty document carefully to ensure your claim is processed as smoothly as possible.
Read the warranty document carefully – The New Home Warranty can be a legal document, and it’s essential to read it thoroughly to understand your rights and responsibilities as a homeowner.
How to Make a Claim Under the New Home Warranty
If you need to make a claim under the New Home Warranty, there are several steps you can take to ensure that your claim is processed as smoothly as possible:
- Review the warranty document – Review the warranty document carefully to understand the coverage and exclusions for your specific level of coverage.
- Gather documentation – Collect all relevant documentation related to the construction of your home, including contracts, invoices, receipts, and any photos or videos that may help demonstrate the issue.
- Notify the builder or warranty provider – Contact the builder or warranty provider to notify them of the issue and begin the claims process. Some warranty providers may have specific forms or procedures for filing a claim.
- Allow for inspections – The builder or warranty provider may need to conduct inspections of your home to assess the issue and determine if it is covered under the warranty.
- Follow up regularly – Follow up regularly with the builder or warranty provider to ensure your claim is being processed and provide any additional information or documentation as needed.
- Consider mediation or arbitration – If your claim is not resolved to your satisfaction, you may be able to pursue mediation or arbitration to resolve the issue.
The New Home Warranty in Alberta and BC protects homeowners against defects and issues with their new properties. Whether you’re a new homeowner or a prospective buyer, taking the time to understand the New Home Warranty is a wise investment in your property and your future. By staying informed and aware of your rights and protections as a homeowner, you can ensure that your new home is a safe and secure place to live for many years.
