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.

 


Many Agents Join Keller Williams

The Keller Williams Market Center, under the leadership of Jay Craig and Jennie Brockman, has added an unprecedented number of new agents to the rosters of the East Brainerd, Hixson and Ooltewah offices in the first half of 2018.   Some agents are just beginning their careers and there are agents that have decided to join Keller Williams from other companies in town. ... (click for more)

CDOT Announces Extended Road Closure On W 3rd Street

The closure on W 3rd Street between Market Street and Broad Street has been extended until Aug.15 due to weather delays. W 3rd will be closed daily between 9 a.m. and 3 p.m. until Aug 15 for storm drain pipe installations. View CDOT's map of event and road closures for full details of projects underway in the public space.   (click for more)

Authorities Say Hixson Man Shot And Killed His 15-Year-Old Son On Saturday Night; Also Killed Family Dog

Authorities said a Hixson man shot and killed his 15-year-old son on Saturday night. A report says Mike McElrath, 46, who was found naked at a neighbor's house, also killed the family dog. McElrath was a former Hamilton County corrections officer from 1996-1999. County deputies responded at 10:24 p.m. to 1846 Cotter Road. The residents said there was a man on their front ... (click for more)

Gary Douglas, 25, Shot Early Sunday Morning; Dewayne Stanley, 24, Is Arrested

Gary Douglas, 25, was shot early Sunday morning, and Dewayne Stanley, 24, was arrested.   The Chattanooga Police Department responded at approximately  3 a.m.   to a person shot on the 4700 block of Murray Lake Lane. Upon arrival, officers were able to locate Douglas, who was suffering from a non-life threatening gunshot wound.   Investigators ... (click for more)

Use Purse Building For Chattanooga Museum Of History And Industry

I was caught off-guard and pleasantly stoked by Eric Atkins' editorial on Chattanoogan.com last week suggesting that one of the soon-to-be surplused city buildings could be turned into a history museum.   I didn't think anyone other than myself that I didn't know cared, or at least would turn their thoughts into the topic of an editorial.  I believe that most of the ... (click for more)

Roy Exum: Many Math-Tragic Replies

The reaction to my Sunday story, “90% Can’t Do Math,” was fast and furious yesterday. A surprising number of the replies were from teachers, confirming the fact that only nine percent of the pupils in our Hamilton County Public Schools are getting the education that every taxpayer know will actually shape the lives these students will live. Because my stories are shared on the ... (click for more)