New Home Buyer Protection
Maybe you’ve heard, maybe you haven’t, but as of February 1st, 2014 every new home, condo or otherwise must be covered by a warranty from an approved 3rd party provider. This legislation has been introduced by the PC Government mostly in response to a very ugly situation experienced in the northern part of the province involving a poorly built condominium.
First, what is a 3rd party warranty provider? In Alberta, we have 5 approved warranty companies. Of the 5, Brost uses Progressive Home Warranty (www.progressivehomewarranty.com). These companies act as a back-up in the case something major goes wrong with your home and your builder is unable, or unwilling, to correct the issue.
Under the new legislation, these warranty providers are required to cover the home for the following items:
1 Year – “Bumper to Bumper” warranty on any item not deemed to fall under the responsibility of homeowner maintenance.
2 Year –Distribution systems. Distribution systems are the wiring, drains, water lines, ductwork etc. in the home but does not include fixtures (i.e. faucets, sinks, etc.)
5 Year – Building envelope. This is every product on the outside of the home involved in keeping moisture out of the house. Siding/stucco, windows and roofing are the major components.
10 Year – Structural components. Foundation, structural framing, whatever is required to hold the structure of the home.
For Brost Developments, this new legislation doesn’t change anything. Throughout our history, we have maintained coverage from a major warranty provider. More importantly, we have always taken pride in looking after our customers regardless of the warranty requirements.
At Brost, we are hopeful that this new legislation has the desired effect of weeding out the “bad” builders out there and provides a level of assurance to anyone looking at purchasing a new home. If you would like to know more about Brost Developments and how we look after our customers, please feel free to give us a call at (403) 526-5004, email me at email@example.com or visit our website at www.brostdevelopments.com.