WHAT IS HOME WARRANTY?
A new home warranty is an assurance from a builder that the new home is reliable and free from known defects and that the builder will, without charge, repair or replace any defects which arise within a given period and under certain conditions. In the unlikely event that a builder who is a member of The Alberta New Home Warranty Program does not comply, the Program ensures the homeowner is similarly protected.The mandate of the Program is to provide a suite of warranty products that offer a fair level of protection and provide builder members and their homeowners with the tools they need to resolve issues, honour specific industry standards and become better educated about the new home construction process.
THE ACT IS GREAT NEWS FOR NEW HOMEBUYERS IN ALBERTA!
By establishing a consistent, province-wide approach to new home warranty, the legislation will nurture common understandings between all builders and buyers. Many purchasers of new homes in the past assumed home warranty was a given. Now it is. No more confusion or surprises.In fact, clarifying service standards and bolstering professional promises is what The Alberta New Home Warranty Program is all about. We were founded in 1974 by Alberta homebuilders to provide a package of warranty protections and promote higher standards in their industry.
COVERED FOR DECADES:
If you are a homebuyer purchasing from one of the of the 700-plus builder members, you already enjoy comprehensive warranty protection, along with clear expectations and an ownership experience protected from unpleasant surprises. In fact, we have had Alberta homeowners covered for almost four decades.
The Alberta New Home Warranty Program is all about providing clear information and consistent protection. Our builder members have established their reputation by fulfilling their promises. In addition, a warranty from The Alberta New Home Warranty Program provides proof to discerning homebuyers that their builder’s commitment is more than words.
New home warranty ensures all new homeowners have peace of mind if there is an unfortunate instance of a claim – from labour or material defects to major structural issues. Previously, such protection was available only to homebuyers whose builders opted for the coverage – now it is mandated for every builder to carry it – benefitting all Alberta homebuyers.While the majority of credible builders offer warranty as standard business practice, the Government of Alberta has estimated that prior to the legislation, about 20% of new homes constructed in Alberta were not covered by warranty.
About the Author
Samantha Clement is an Okotoks based Realtor who specializes in helping people buy and sell real estate in the Okotoks, Calgary and surrounding areas. Samantha is an accredited buyers representative, certified condominium specialist and a certified home stager. If you are considering selling or buying Samantha would love to help. You can contact Samantha through her website.