When you build a brand new home in the province of Alberta, your new home is covered by a standard structural coverage plan offered by Alberta New Home Warranty (ANHW) for the first five years. Your builder, of course, doesn't intend for anything to go wrong with the construction of your home, but with the possibility of faulty product or installation, this coverage provides great peace of mind knowing that you and your home are protected.
Alberta New Home Warranty is the leader in the industry when it comes to protecting your investment, and includes a selection of enhanced protections specifically for single family homes. This program is in place to protect the interests of the customer and ensure your investment is safe. This is, of course, why your Augusta custom home will be backed by an ANHW custom home warranty. Below, you'll learn more about the enhancements available to give you as much coverage as you feel you'll need.
Deposit Protection
When you make a deposit on the construction of your new home, your investment is protected in the event of default by your builder. In this very rare instance, this protection ensures the return of your deposits up to 20% of the purchase price to a maximum of $100,000. When a corporation is dealing with litigation, creditor protection, or bankruptcy protection, often times the customers are the last to receive any funds if any at all. This protection ensures you won't walk away with nothing.
Builder Performance Protection
In the unlikely event your home builder has failed to complete your home as contracted, you are protected for up to $50,000 toward the completion costs. This also covers the discharge of builder's liens on the property as well as up to $3,000 in legal fees. Alberta New Home Warranty provides the administration, coordination, and supervision of issues for the completion of your home.
First Year Workmanship and Materials Protection
First Year Workmanship and Materials Protection Once you take possession, a one-year bumper-to-bumper style protection plan begins and is in effect for 364 days from your possession date. In addition to this coverage, Alberta New Home Warranty covers up to $100,000 toward repairing defects in workmanship and materials should your builder not meet its warranty obligations.
Five Year Structural Integrity Protection
For the first five years of your home's life, you will benefit from the protection of any structural defects affecting load bearing components. The unused portion of the First Year Materials and Workmanship coverage can also be applied toward the costs of repairs related to structural integrity for the first five years.
Ten Year Structural Integrity Protection
This warranty coverage portion is optional and can be purchased at the time of possession to extend the warranty coverage on any structural integrity issues that may arise in your home for an additional five years, up to ten years after your possession date. At a nominal cost of $200 + GST, this extended coverage is a worthwhile investment to have peace of mind post-possession. When you build an Augusta home, this coverage comes standard.
Additional Living Expenses Protection
At any point during the warranty period in your home, should you incur any additional living expenses while work is being completed, you will be reimbursed for up to $6,000 in pre-approved, verifiable living expenses. This ensures that even if you're inconvenienced by the repairs on your home, you won't have to worry about covering additional costs which can lead to unnecessary extra stress.
Home Smart Advantage
Alberta New Home Warranty ensures you're well informed about your new home's construction and any issues that may arise post-possession. As such, ANHW offers a comprehensive website in which homeowners can register for an account to stay informed about their home's warranty coverage. Additionally, this website offers a full resource centre of information on how to better communicate with your builder and have a more rewarding home building experience.
Free Publications
Alberta New Home Warranty offers a selection of free publications to help you with the home buying process in an easy-to-read manner. These publications include comprehensive information relating to the full journey of purchase to possession, as well as a complete workmanship and materials guide to explain the different parts and services related to your home. These guides also inform you about how your builder meets industry codes and standards for a quality home you'll feel good about investing in.
When you purchase a home from Augusta Fine Homes, your investment is protected both by us as your home builder, but also by a third-party organization such as Alberta New Home Warranty. Together we work diligently to provide you with a new home and solid investment for many years to come.
