When everything is shiny and new, it might seem unimaginable that anything could go wrong with your new house. You hand-selected everything from the roof shingles to the flooring. Hours went into choosing the crown molding, the countertops, and the decorative tiles on the bathroom floor. For the past several months to a year, you’ve invested time and money into this build. Your house is a major investment, so make sure it’s protected.  Builder’s warranties vary greatly, so it is important that you take the time to learn what is covered.

Who Covers Your Warranty?

It’s usually backed by the builder or is purchased by the builder from an independent company. Most newly built homes come with a builder’s warranty, which is also called a limited warranty. This is usually outlined in your sales contract or in a separate document. The length of coverage varies. A homeowner may purchase coverage from a third-party warranty company to supplement the coverage by the builder. A home warranty is an annual contract between an individual and a corporation that can protect different items from failure or damage, depending on the company and your agreement. In fact, loans with the Federal Housing Authority (FHA) and the Department of Veterans Affairs (VA) require builders to purchase a third-party warranty as a way to protect buyers of newly built homes.

Understand What Is Covered

The key to any warranty is to understand what is covered, what is not covered, and how to file a claim. Having home warranty coverage undoubtedly provides you with peace of mind. From household appliances like refrigerators, dishwashers, washing machines, and dryers to home systems like plumbing, electrical systems, and HVACs, home warranties ensure you can affordably repair, maintain, and potentially replace home systems and appliances. This way, you don’t have to pay for repairs or replacements out of pocket and can hopefully save money in the long run. Before you close on your new home, ask what the warranty covers.

Items That Usually Have Limited Coverage

Warranties usually provide coverage for one or two years. Warranties also define how repairs will be made and by whom. Most warranties for newly constructed homes offer limited coverage on workmanship and materials as they relate to components of the home such as windows, siding, doors, roofs or plumbing, electrical and HVAC systems. On new home construction, you will also have a manufacturer’s warranty. This usually covers parts and labor for twelve months from the purchase date (or sometimes the date of installation) of the appliance or system. It’s important to note that a manufacturer’s warranty coverage is limited to the original purchase made by the original owner.

What Is The Process Of A Warranty Claim?

A warranty claim is a claim by a customer/product owner for a product under warranty and usually entails either repair or replacement. The process warranty includes, identifying, investigating, and processing warranty claims. While the amount of time varies based on the type of work that needs to be done, a repair under warranty should take less than 30 days. If you have a problem with a claim. you can check with your state’s Attorney General Office or contractor licensing board to make certain your builder is offering all warranties he is required to provide.

While warranties and insurance are great tools to help you protect your property, repairs and maintenance expenses are part of homeownership. Even though warranties and insurance help you protect your property, repairs, and maintenance will be necessary, even in a new home. Make sure you can cover your deductible and any out-of-pocket expenses by saving money throughout the year.

Contact Lisa (954-282-1276) for a free consultation!
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About Lisa Marie Jones, Realtor

Your hometown realtor! Lisa helps buyers and sellers of Luxury homes in Broward, Palm Beach, & Martin Counties. You need a real estate agent that will be with you every step of the way. Lisa Jones has earned a reputation for being one of the top real estate agents in South Florida.
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