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The warranty question becoming more important for new-home buyers
Buyers are scrutinizing what warranties cover and how long they last as repair costs rise, builders and advisers say.
- With rising home prices, new-home buyers are increasingly scrutinizing builder warranties. Google Kathleen Plunkett, a representative for Triple Crown Homes, noted that buyers are prioritizing these documents, which often serve as liability shields rather than comprehensive protection.
- Unlike standard homeowners insurance, builder warranties define rigid mechanical and structural standards that builders must meet. These contracts function as a guarantee of quality and durability, ensuring a home is habitable for the owner.
- Most builder warranties explicitly exclude cosmetic repairs or damage resulting from owner neglect. Experts warn that builders often use these terms to limit legal liability, potentially preventing homeowners from suing over specific construction defects.
- Before signing binding agreements, buyers should consult an attorney to review warranty terms. Understanding obligations and exclusions is essential, as some states provide implied warranties that offer additional protections beyond the builder's written offer.
- Buyers utilizing government-backed loans should pay close attention to warranty terms. Proper due diligence ensures that warranties provide meaningful protection rather than just vague, non-binding guarantees of quality for the property and its components.
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49 Articles
Omaha World-Herald+48 Reposted by 48 other sources
The warranty question becoming more important for new-home buyers
Triple Crown Homes reports that as U.S. housing prices rise, new-home buyers increasingly seek builder warranties for protection against defects and maintenance surprises.
·Omaha, United States
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Total News Sources49
Leaning Left6Leaning Right1Center42Last UpdatedBias Distribution86% Center
Bias Distribution
- 86% of the sources are Center
86% Center
12%
C 86%
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