What Can You Expect With New Home Maintenance
One of the best parts about buying a new home is you’ll spend considerably less on maintenance than a resale. Generally, pre-owned home maintenance costs owners an additional 3- 5% of their home’s total value every year. Being a new homeowner gives you the benefit of knowing you won’t have to budget nearly as much for repairs and upkeep. Let’s look into why that is.
1-2-5-10 Home Warranty
Every every new home builder in Alberta must provide a 1-2-5-10 home warranty. This covers all types of new homes including single family, multi-family and multi-family common property. As a new homeowner, here is the coverage you can look forward to:
With new homes, you will have one year’s worth of coverage on materials and labour. This means, within the first twelve months, you may have coverage on anything from nail pops and faulty flooring to paint defects and trim repairs. One thing to keep in mind, though, is if you yourself damage your home, the item may not be covered.
You can also look forward to two years worth of coverage on defects relating to distribution systems such as plumbing, electrical and heating. Although rare with a good, reputable builder, should you have a faulty furnace or weak wiring, this may be covered.
For five years, the warranty on your home will cover the building’s envelope. The envelope can be defined as the components that keep the interior and exterior air separate. Your wall framing, roof, cladding and windows are considered envelope components and may be covered if damaged.
Lastly, you can look forward to ten years worth of coverage on the structural components of your home. This means that you’re protected for any load bearing damage that may occur, as well as any of the labour or material costs on the structure.
The 1-2-5-10 warranty is a huge benefit to new home buyers because it gives you the security of knowing your investment will be protected. Unlike a previously owned home, new homeowners have peace of mind knowing their builder is required to work to a certain standard.
Appliances have come a long way when it comes to energy efficiency and technology.
New homes come with brand new energy efficient appliances, can often be tailored to your own specifications (i.e. a gas stove as opposed to an electric one), and come with a manufacturer’s warranty. While this is separate from your home warranty, a manufacturer’s warranty ensures you won’t have to worry about repairs or maintenance for several years.
Newer appliances also mean you’re likely to save more on your utility bills. With a resale home, appliances can be worn, outdated and less cost-effective.
With a new build, you can have peace of mind knowing you’ll have little to no maintenance to worry about. This way, you can focus on enjoying your new home instead of repairing it!