Moving into a New Home? Alberta Introduces New Home Buyer Protection Act
February 14th, 2014 3:38 pm by admin
For the very first time, as of February 1, 2014, the province of Alberta has endorsed a New Home Buyer Protection Act, which will ensure all new homes built in the province will be protected under warranty. By doing so, this will provide homeowners peace of mind, guaranteeing all new homes will be constructed with even higher quality standards than ever before.
The new home warranty will cover labor and materials for 1 year, delivery and distribution systems for 2 years, building envelope protection for 5 years, and major structural components for 10 years.
There are warranty providers in Alberta that builders might choose to collaborate with for coverage. The best option would be to do some research on your own or speak to your builder about the warranty provider of their choice before making any sudden decisions and moving into your new home.
Are you moving into a home that you happen to be the owner-builder of or constructing your own home to reside in? Well then you have a couple different options. Your first option would simply be to get the home warranty coverage for your home; your second option would be to apply for an owner-builder authorization, this would give you consent to build your home without a warranty. If you end up selling your home within 10 years of the date it was built, you will need to obtain the remaining warranty coverage for your buyer.
The Government of Alberta will enforce penalties against warranty providers, builders and anyone else who chooses not to comply with the Act in order to make sure the legislation is obeyed. Alberta Municipal Affairs will also provide tools to municipalities to make sure warranty coverage is in place before new construction permits are issued.
Alberta’s new warranty program also includes an online Public Registry (http://homewarranty.alberta.ca/public-registry/) which is very easy to use. Builders will be required to enter warranty information for every new home built after February 1, 2014. If your home is warranted under the new Act, you’ll be able to access your warranty information by simply entering your address. This tool can help you track important dates and locate any necessary contact information for your warranty provider. Anyone shopping for a new home will also be able to access the registry in order to determine whether the home has a warranty and what coverage remains.
Once you’ve familiarized yourself with the New Home Buyer Protection Act in Alberta give Highland Moving and Storage a call to learn more about how we can assist you and your family into moving to your new home.