Even when you are building a brand-new house that is completely custom, that doesn’t make your house totally immune to possible defects. Getting a builder warranty for a custom home can cover certain damage or defects before it expires.
Builder warranties for custom homes may cover workmanship and materials for about a year, electrical and mechanical systems for about 2 years, and structural defects for 10 years or more, depending on the warranties you choose. Builder warranties don’t cover damage from normal wear and tear, natural disasters and severe weather, DIY alterations, and homeowner neglect. Custom home warranties are often a very small percentage of the total budget for a custom home, making them well worth it for many new homeowners.
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Custom home warranties can cover defects discovered after construction for as long as they are in effect, between 1 and 10 years.
Builder warranties cover workmanship issues and defects in materials after construction concludes, typically up to 1 year. Problems with settling cracks, paint, siding, flooring, cabinetry, drywall, and other work due to poor installation are generally covered, so that you don’t have to cover the cost of poor installation yourself soon after construction is finished on your custom home.
Builder warranties for electrical and mechanical systems may last 2 years or longer, depending on the warranty. Defects with your home’s electrical or mechanical systems can be addressed at no added cost to you so that you no longer experience electricity or HVAC issues in your brand-new home.
Custom home warranties for structural problems are typically the longest, and may last for 10 years or more. This kind of warranty covers major structural problems that compromise the structural integrity of a home and make it unsafe for you and your family.
Common structural issues covered by builder warranties include cracks in the foundation, framing problems, and problems with load-bearing walls. Even in newly constructed homes, structural problems might appear that need immediate attention.
Custom home warranties are limited, and they don’t cover every possible kind of damage you might experience as a homeowner.
Household appliances are typically not covered by builder warranties, and are instead covered by manufacturer warranties. These include washers, dryers, refrigerators, ovens, and other freestanding appliances with their own warranties.
Defects due to normal wear and tear are also not covered by custom home warranties; neither are defects due to homeowner neglect or DIY home alterations that have structural or other consequences.
Builder warranties also do not cover exterior home damage from extreme weather, which is why having homeowners’ and flood insurance is important, especially if you live in a high-risk area for hurricanes or other bad storms.
Custom home warranties can vary in cost, and homeowners need to consider this expense when deciding which systems to cover and for how long.
Builder warranties may cost 0.1 to 0.5% of a new custom home’s total market value, making them relatively affordable and easy to work into the total target budget for your new home build.
Some homeowners choose not to get builder warranties for new home builds, thinking they are not worth the cost. In reality, the financial protection, peace of mind, and higher home value you get from a builder warranty are typically worth it for homeowners.
For as long as a builder warranty is in effect, homeowners don’t have to worry about covering the costs of workmanship defects, electrical and mechanical system repairs or replacement, and sudden structural problems themselves, provided defects do not happen because of extreme weather or homeowner neglect.
Homeowners should know exactly when warranties expire to know how long they have this financial protection.
Building a custom home is a major investment, and getting a custom home warranty can give you the peace of mind you need as a homeowner to know that you will have help from your builder should any workmanship, mechanical, or structural issues arise soon after you move into your new home.
Houses with transferable custom home warranties might have higher home values. Potential buyers may be even more interested in buying your house after learning that your current warranty transfers to them once the sale is final, offering them financial protection under the warranty until it expires.
Make the most of your custom home warranty by knowing what it does and doesn’t cover, when it expires, and how to report defects to your builder.
Carefully read a custom home warranty before signing so you know exactly what it does and does not cover, and so you are not surprised later if certain defects are not included in the warranty.
You also need to know when warranties end. Workmanship warranties are typically the shortest, while structural warranties are typically the longest, often lasting 10 years or more.
If you need repairs for defects covered by your custom home warranty, you should seek them right away. Don’t wait to report defects to your builder and request repairs.
Custom home warranties generally do not cover defects due to homeowner neglect, which makes performing preventative maintenance around your home highly important.
Contact Blythe Custom Homes to start the custom home planning process today.
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