Modern Designs and Floor Plans in a New Construction Home

Tampa Bay New Home Finders

Understanding Builder Warranties on a New Construction Home

Welcome to our series on the advantages and disadvantages of buying a new construction home.  Over the course of the next two weeks we will share thoughts you may not have considered.  (Excerpted portions from my new book coming out late June 2024).


ADVANTAGE:  Warranties in a New Construction Home


When you buy a home, you want to ensure your investment is protected. One of the best ways to achieve this is by choosing a new construction home. New homes often come with extensive warranties that cover a range of issues, giving you peace of mind and protecting your investment. Let's explore the benefits of warranties in new construction homes and why they are a significant advantage for homeowners.


Understanding Builder Warranties


Most new construction homes come with builder warranties that cover various aspects of the home. These warranties typically include coverage for structural components, systems like plumbing and electrical, and sometimes even appliances. The duration and extent of coverage can vary, but many warranties last for several years, providing long-term protection for your home.


Protection Against Structural Issues


One of the most important aspects of a builder warranty is coverage for structural issues. This includes the foundation, framing, and other critical components of the home. If any structural problems arise within the warranty period, the builder is responsible for repairing them. This protection can save you from costly repairs and ensure your home remains safe and stable.

Coverage for Systems and Appliances


In addition to structural coverage, many builder warranties include protection for major systems and appliances. This can include plumbing, electrical, heating and cooling systems, and built-in appliances like ovens and dishwashers. If any of these components fail or malfunction, the warranty will cover the repair or replacement costs, saving you money and hassle.


Peace of Mind


Knowing that your new construction home is covered by a warranty provides significant peace of mind. You can move in with confidence, knowing that any unexpected issues will be addressed without additional financial burden. This assurance allows you to enjoy your new home without worrying about potential problems or repair costs.


Increased Home Value


A home with a warranty is often more attractive to buyers if you decide to sell in the future. Potential buyers will appreciate the added protection and may be more willing to purchase a home that comes with a builder warranty. This can increase the resale value of your home and make it easier to sell when the time comes.


Warranty Transferability


Many builder warranties are transferable to new owners if you sell your home within the warranty period. This transferability adds value to your home and provides the new owners with the same peace of mind you enjoyed. It also demonstrates the builder's confidence in the quality of their work, further enhancing your home's appeal.


Steps to Take When Using a Warranty


If you need to use your builder warranty, it's essential to follow the proper steps to ensure coverage. First, review the warranty documentation to understand what is covered and the duration of coverage. If an issue arises, contact the builder or warranty provider promptly and provide detailed information about the problem. Keep records of all communications and repairs to ensure a smooth resolution process.


Regular Maintenance and Warranty Coverage

 

While builder warranties provide significant protection, it's essential to perform regular maintenance to keep your home in good condition. Proper maintenance can prevent minor issues from becoming major problems and ensure that warranty claims are valid. Simple tasks like changing air filters, checking for leaks, and inspecting appliances can help maintain your home's systems and prolong their lifespan.


The benefits of warranties in new construction homes are numerous. They provide protection against structural issues, systems and appliance failures, and offer peace of mind for homeowners. With increased home value and potential warranty transferability, investing in a new construction home with a builder warranty is a wise choice. This added protection ensures your home remains a safe and sound investment for years to come.


Be sure to visit each day to continue reading the advantages and disadvantages of purchasing a new construction home.


If you are considering purchasing a new construction home and would like to ask questions, schedule a discovery call today with one of us or our designated New Home Specialists.


Book a discovery call today!


Carla Goddard | East Pasco Living Team Lead | Operations Director Builder Services


Graduate, REALTOR® Institute | Residential Specialist | BHHS-Certified New Home Specialist | Certified National Home Specialist – Residential Construction Certified (CNHS-RCC) | NHCB Certified New Homes Co-Broker |BHHS-Certified eCertified® Specialist | BHHS-Certified rCertifiedSM Referral and Relocation Specialist | Tampa Bay Builder Services Manager

📧email: carla@eastpascoliving.com

📲text/call 813.716.4498





If you are considering purchasing a new construction home and would like to ask questions, schedule a discovery call today with one of us or our designated New Home Specialists.


Carla Goddard | East Pasco Living Team Lead | Operations Director Builder Services


Graduate, REALTOR® Institute | Residential Specialist | BHHS-Certified New Home Specialist | Certified National Home Specialist – Residential Construction Certified (CNHS-RCC) | NHCB Certified New Homes Co-Broker |BHHS-Certified eCertified® Specialist | BHHS-Certified rCertifiedSM Referral and Relocation Specialist | Tampa Bay Builder Services Manager

📧email: carla@eastpascoliving.com

📲text/call 813.716.4498

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The Renting vs Buying Debate

By CARLA GODDARD • October 28, 2024
We have all heard the great “renting vs buying” debate for years. Some people love renting because, if something in the home breaks, they’re not responsible for fixing it. And I get it. I own property and have had some particularly bad experiences when something went wrong (at the worst possible time). And it’s true, when you rent, you have fewer responsibilities. However, renting isn’t as hands off as many people think, and to be honest, you’ve probably already been paying for those costly repairs without even knowing it. In fact, you’ll probably pay more as a renter than you would as an owner. Let me explain… #1 Owning Will Yield A Return On Your Investment When you own a home, you get tax deductions, which is a big incentive. And unlike renting, your mortgage can’t go up due to inflation or deflation. You’re also building up tons of equity, which means that, when you sell, you’ll have more cash for retirement or more cash to put down on your next home. #2 Renting Makes Your Landlord Rich (Not You) People who own homes are essentially paying into a huge investment every month, so although they have a house payment, it’s going to their mortgage - not to their landlord’s pocket. Additionally, most landlords raise the rent every year, to adjust for the cost of appreciation, which means that the renter is actually the one who’s paying for the depreciation (and future repairs) on all of the appliances of the home. If you’re going to pay that cost anyway, it’s probably better for you to pay them on a home you actually own. #3 Rent Costs are Up Generally speaking, rent in sought-after areas can be massive. Right now, most rent costs are up 5% or more - But while interest rates are in flux. It still means that, for about the same price as renting, you can have more space, freedom, and peace of mind in a home you own. #4 Owning Has More Stability The tenant landlord relationship is notoriously tricky. Landlords write the contract, name their price, and control pretty much everything about the place you call home. They can enter your home, hire their own repairmen (however sketchy and DELAYED they may be), or even sell the home... and there’s very little you can do about it. When you own, you have greater control over all of these things. #5 You can’t make it your own One of the worst things about renting is that you can’t personalize, decorate, or improve the space. So renters are typically stuck with the paint, flooring, hardware, and appliances as the day they moved in… And sometimes, decades before they moved in! (Hello shag carpets!) The sad thing is, most renters rent because they don’t even know that they can comfortably afford a home. They just need a great team who can help calculate the math behind renting vs. owning. If that sounds like you (or someone you know), we can help. No pressure, no sales tactics, just helpful advice and the guidance you need! Our team includes no pressure mortgage brokers who will work with you to see what makes sense for YOU! And finally, if you’re not thinking about making a move just yet, feel free to save this blog for future reference, so you can come back to it! Have a great week!
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