29 Mar Mandatory Protection for New Homes
Buying new has its advantages, particularly in Alberta. Last year, the provincial government implemented the New Home Buyer Protection Act. This act is intended to improve the standard of residential construction and offers consumers a higher level of security. Single-family homes, condos and multi-family dwellings are all covered. This program provides the most comprehensive protection plan in Canada.
So which components of your new home are covered under the statute? The first year offers coverage for the cosmetic finishes in the home including defects in the paint, flooring, and trim. The second year safeguards against defects caused by labour, and materials relating to heating, plumbing and electrical systems. The final component applies to structural components of the home, including the framing and foundation. The scope spans all the way up to 10 years.
Although the act is mandated by the Albertan government, it is implemented by a number of approved independent providers only. To make the process more user-friendly, home owners can input their addresses on homewarranty.alberta.ca. They would be able to access information regarding their coverage provider, keep track of deadline dates, and find important contact numbers.
Should you need to make a claim, call your warranty provider first. They will instruct you on how to comply and assist you from start to finish.
Consumers are encouraged to ask the right questions when purchasing a newly constructed home. Find out about the builder’s track record, and pay a visit to recently completed subdivisions to get a first-hand look at the final product. If possible, speak to other people who have purchased from the builder to find out what their experience was like. An adept Realtor can assist you with choosing a reputable builder and negotiate a great deal on your behalf.