Your Brand New Home is Protected!
When it comes to the decision of buying a brand new home or used home, both have their advantages and disadvantages. Price point, location, and aesthetics are some decisions first time home buyers take into account when it comes to buying a used home. If taken care of correctly they can become a dream come true for families.
Unfortunately, they usually require much more care and maintenance. In February of 2014 the Alberta Government made it mandatory for new homes to be under protected warranty. Alberta’s New Home Buyer Protection Act, was made to protect home buyers from purchasing a brand new home and having to worry about any aftermarket repairs or defects. This act is government enforced meaning all builders in Alberta must comply. You can breathe easy and enjoy your brand new home knowing you are protected.
Some of those warranties include:
- Finish’s in the home such as flooring, paint or trim (1 YRS)
- Cover defects and labor costs for related to heating, plumbing, and electrical systems (2 YRS)
- Home exteriors such as the shell of the home, roof and walls. Additional warranty is available (5 YRS)
- Frames and foundation have the longest warranty (10 YRS)
Visit https://residentialprotection.alberta.ca/ for more information. This website is a great resource of which type of homes qualify for warranty, which parts of your house is under warranty, and information first time home buyers can take advantage.
Remember to share this with friends or families that are in the market to purchase a new homes.