How will the Alberta New Home Warranty provide you security when you purchase your multi-family home?
As of February 1, 2014 every new home built in Alberta is protected under warranty.
Alberta’s New Home Buyer Protection Act encourages even higher quality standards from builders and reflects the Government’s desire to ensure all new homebuyers receive even more protection for the single most expensive purchase they may ever make. This act gives buyers a clear idea of what to expect when buying a home, as well as protect them when things do not go as planned. The warranty is an assurance from a builder that the new home is reliable, and that the builder will repair or replace any defects that arise within a given period and under specified conditions. The Government says the act is the strongest consumer home warranty protection plan in Canada.
How does the coverage work?
The warranty covers one year for labour and materials, two years for delivery and distribution systems, five years for building protection and ten years for major structural components.
• The first year includes items such as flooring and fixtures, starting on the warranty commencement date.
• The first two years covers defects in labour and materials related to heating, plumbing and electrical systems.
• The first five years covers the exterior shell of the home, including the roof and walls. It’s possible to purchase two additional years of coverage in this area.
• The first ten years covers the key structural components of your home, including its frame and foundation.
What is your role in the new warranty process?
Before purchasing a multi-family home with a builder, do your research. You want to find out how long your builder has been in business and what others have to say about the builder. Research the warranty provider as well and make sure you know key warranty dates and what process to go through if you do need to make a claim.
Remember that once your home has been built, you are responsible for the basic maintenance and upkeep.
What does this mean for you?
The Alberta New Home Warranty Program establishes a consistent approach to new home warranty, providing common understandings between all builders and buyers. The legislation is all about providing clear information and consistent protection, allowing builders to establish their reputation by fulfilling their promises. Overall, this warranty will give you peace of mind if something does go wrong in your home.
We believe in the work we do which is why we’re more than happy to stand by it while providing our homeowners with peace of mind. For more information visit http://www.anhwp.com/.