There are a lot of benefits of buying a brand-new house, but one of the key benefits is that everything in the home will be new. This typically means that everything will work properly and that there will not be any problems. To ensure that you are satisfied with your new home, the builder might offer a warranty to you. If so, here are several important questions you may want to ask about this warranty.
Does the home have a structural warranty?
Depending on the state you live in, there might be several different types of warranties on the new home you just purchased. The longest type of warranty a new home will typically come with is a structural warranty, which commonly lasts for 10 years. This is a state-mandated warranty designed to hold builders accountable for the integrity of the homes they build. If something is wrong with the structure of your home, the builder will have to make all the necessary repairs to the home if the problem is discovered within the time frame of the warranty.
Does the home have a contractor warranty?
A contractor warranty is typically a different type of warranty, and it is common for builders to offer one-year contractor warranties on new home. A one-year contractor warranty typically covers all types of problems with a home, unless they are caused by the homeowner.
If your new home comes with a one-year warranty, you may want to wait until the one-year time period is almost up, and then create a list of problems. By doing this, you can call the contractor to your home just before the year is up, and he will then address all the problems you have written on your list. This could include cracks in drywall or popped screws in your drywall. It could also include trim that came loose or gaps in your hardwood flooring.
Are there exclusions with these warranties?
The other important question to ask your contractor involves exclusions. In other words, you should find out exactly what types of repairs and problems are covered under the warranties, and it is often easier to understand the coverage of a warranty by finding out what is not covered.
A good example of something that might not be covered is your appliances. Appliance manufacturers often have their own warranties on their products. Because of this, your contractor would not be responsible to fix an appliance that is broken.
Having a warranty on your new home can make you feel more confident with your purchase. If you would like additional info about new homes for sale or the warranties they come with, talk to a mortgage lender or real estate agent today.