3 important reasons to secure a warranty for your new construction home
Owning a house is a long-term commitment. The financial responsibility does not stop with saving up for a down payment and paying off a mortgage. Homeowners must also plan for recurring payments like maintenance and repair expenses.
If you are setting your sights on buying new construction, getting a home warranty is an excellent way to ease your financial burden. Home warranties justify the premium price you are expected to pay for a brand new house because it protects you from unexpected upkeep costs during the early stages of your homeownership.
Here are three essential reasons to secure a home warranty when you buy a new construction home:
- Your home warranty will protect you from issues that may not be immediately obvious or observable before you move in
Even if the house was thoroughly inspected and approved by a professional before you closed the deal, some problems may not appear until you spend time living in it and using its features. These issues are common in houses that are absolutely brand new after settling in.
Brand new does not always mean problem-free. Even properties built by the most successful and trusted home builders can have minor issues that are hardly noticeable until their buyers move into them.
Whatever the reason for the defects, fixing them will be the builder’s responsibility if you are covered by a home warranty. You will not have to worry about any unplanned expenses to keep your house in top condition.
- Home warranty terms cover a variety of problems
The types of defects and issues covered by a home warranty vary among builders. In most cases, you can count on your warranty to cover repair needs that involve:
- Heating, ventilation, and air conditioning (HVAC) systems
- Plumbing, drainage, and septic systems
- Electrical wiring systems
- Cover siding and stucco
- Doors, windows, and trim
- Drywall and paint finishes
- Other defective materials used in construction
These systems and components are typically covered for the first year or two years.
In many cases, more established builders extend their home warranty coverage to include major structural problems. These cover a generous period of up to 10 years because newly built houses take a few years to heave and settle.
What home warranties typically do not cover are your household appliances, cosmetic damage caused by normal wear and tear, and other individual components already covered by a manufacturer’s warranty.
- Having a home warranty will give you much-needed peace of mind about your purchase
The importance of securing a home warranty for your newly constructed house simply boils down to making you feel at ease with your investment. While any dream home may reveal hidden flaws or issues after some time, you can rest assured that your repair or replacement needs are adequately covered when you have a warranty.
With greater peace of mind, the level of comfort and enjoyment that you experience in your brand new house will also increase. That alone is worth the price you pay for a home warranty.
How to ensure you get good warranty terms for your new construction home
Remember to ask your builder about a home warranty before you commit to buying. Warranties are offered for free for the first year, but if you are dealing with an established and dependable building company, you might have room to negotiate toward better, longer warranty terms that can save you hundreds of dollars.
Read through the terms before you sign into any agreement. Understand your responsibilities as the property owner, as well as the obligations of the builder (labor and materials) in case you need to make a claim. Find out whether a third party insurance provider is involved and what that would mean for your claims.
If you have any questions, requests, or any points of contention in the warranty, discuss them with the builder and make sure that everything is resolved before you commit to a deal. Most warranties include provisions on mandatory binding arbitration as a means to settle disputes between the homeowner and the builder. However, you will be better off if you can iron out your concerns before you finalize your purchase.
Need more advice about your home warranty? Looking for experts who can guide you through the process of buying a new construction home? The real estate specialists at Warner Robins Home Search can answer all of your questions today. Send your inquiries here to get started.