3 Things To Know About Your New Home Warranty

Tuesday, January 23, 2018 - by Jay Bell, president, Home Builders Association of Greater Chattanooga

Buying a new home is one of the most important purchases you’ll ever make, but it’s also one of the most exciting. One great benefit of buying a newly built home is that it will often come with a home warranty.

You probably have a lot of questions about what to expect from a new home warranty, especially if you’re a first-time buyer. Here are answers to three common to help get you started.

What is a new home warranty?

A new home warranty gives you limited coverage on home repairs for a set amount of time, but the scope and length of coverage will vary.

Some warranties will only cover deposit insurance and protect against major structural defects, while others are more extensive, covering defects in your home’s heating and air conditioning, plumbing, windows, roofing, lighting, or even fixes to overly creaky floors.

You can often choose to upgrade from a basic package to a more comprehensive one, so if the warranty your builder is offering doesn’t put your mind at ease, inquire about increasing the coverage.

What does a warranty cover and for how long?

Coverage depends on the provider and type of warranty, but typically your new home warranty will be divided into different terms.

For example, labor and materials might be covered for one year, while plumbing, electric, heating, and air will be covered for a little longer, maybe two to three years. Structural defects will usually have the longest coverage period, extending for 10 or even 20 years.

The home warranty likely won’t cover things like appliances and swimming pools, so if you want long-term coverage for those things, you’ll want to buy a supplemental warranty from a third-party seller.

How can I make sure I’m getting a good deal?

It’s a good idea to ask your builder about the warranty before building even starts. Make sure to read through your entire warranty carefully. Mark any passages that you don’t fully understand, and go over them with your builder before signing off on anything.

Hopefully, you’re working with a builder you trust. Good builders will want to give you a solid warranty to maintain their reputation.

If you feel like you might be getting a raw deal, start by verifying your builder is registered with a warranty provider by checking out the provider’s website or calling their hotline. If you’re still feeling uneasy, take the warranty to an attorney and get their opinion.

It’s also crucial that you fully understand the process for making a claim and resolving disputes. Put all of your correspondence with your builder and warranty provider in writing whenever possible. That way you’ll have a comprehensive record if a dispute ever arises.

For more information about buying a new home, contact the Home Builders Association of Greater Chattanooga at 423-624-9992 or info@hbagc.net.

 


Affiliate Broker Elizabeth Bowden Joins Crye-Leike Downtown Chattanooga

Crye-Leike Real Estate Services announced that Elizabeth O'Mary Bowden is now affiliated with Crye­-Leike’s downtown Chattanooga branch office as a licensed realtor. She will serve the residential real estate needs of buyers and sellers in and around Hamilton, Bradley, and Jasper counties.   Ms. Bowden  is a member of the National Association of Realtors and ... (click for more)

Red Bank Commission Approves Rezoning For Bulldozer-Scarred Hedgewood Tract Despite Opposition

The Red Bank City Commission on Thursday approved rezoning for a bulldozer-scarred tract on Hedgewood Drive despite some opposition from neighbors.   Developer Tyler Smith said he owns two adjacent homes that he fixed up and he had long had his eye on the land that was once a one-and-a-third acre heavily wooded, gently sloping lot at 252 Hedgewood. The previous owner, ... (click for more)

Donaldson Tells Jury He Shot Son-In-Law After Knife Was Pulled On Him; Medical Examiner Says Fatal Shot Was From 3 Inches Away

Glen Donaldson took the witness stand Thursday in the attempt to explain how two good friends ended up with one dead and the other facing a first-degree murder charge.   On the night of Dec. 29, 2016, he texted his son-in-law, Adam Levi, and arranged to pick up bed rails for his daughter, who had left items when she moved out of their house. After loading the rails, ... (click for more)

Motorcyclist Killed After Colliding With Car On Highway 60

A motorcyclist was killed on Highway 60 on Thursday afternoon after colliding with a car.   At approximately  4:30 p.m. , Hamilton County Sheriff’s Office deputies were called to the 5100 block of Highway 60 for the report of a  motor vehicle accident involving a motorcycle vs. car.  According to preliminary reports, the motorcycle ... (click for more)

Speaking Of A Cove

Mr. Sole Commissioner Whitfield,   I live in  a cove in western most Chattanooga. My back yard is woods. My front yard is woodland too. My neighbors and I had chance to voice our disagreement in 1996 to the proposed sale of a portion of the farm that dominated this cove and we did. There weren’t very many of us. One member of the group that listened to ... (click for more)

Roy Exum: 'Don't Dare Endorse Me!'

When Joe Smith, a member of the Hamilton County School Board, met with officials of the UnifiEd political action committee on Tuesday, his instructions to his somber listeners were very specific. He told the leaders of the now-tainted education non-profit group. “Do not endorse me. I extended the courtesy of answering your questions … I am eager to do the right thing. But I am saying ... (click for more)