Suppose you were the owner of an empty lot. But taking advantage of the real estate boom sweeping the country (Source: seekingalpha.com), you decided to convert the property into a new home. You hired a qualified builder, established a comfortable budget, and followed the building progress closely to make sure everything went according to plan. Unfortunately, with so many moving parts, there’s no guarantee that nothing will go wrong. In fact, you’re more than likely to run into unexpected building issues and incur sudden costs that you did not include in your new home budget. This is where a structural home-warranty plan can help you. This is a kind of insurance policy that offers construction-related coverage to offset some of the repairing costs. Leading home-builders across the US offer this benefit to their clients. Find out why:
1. Prevent Structural Problems
Hopefully, you will be living in your new home for the better part of a decade. So, it’s probably for the best if you select a long-term warranty plan that covers your building for more than 10 years against any manner of structural problems and provides an added level of protection. Even though sagging roof beams and leaky or cracked foundations seem like an impossible problem that can never happen to your home, such incidents do happen despite the home being solidly built. Structural defects may arise due to a variety of reasons including shifting soil or faulty workmanship. Home warranties offer coverage for all these defects for up to 10 years. Whatever the case might be, always make it a point to know the details of the warranty before signing on the dotted line.
2. Peace of Mind
New homeowners will gain some peace of mind upon realizing that their dwelling is protected against any structural deficiencies that might crop up in the future. On top of that, if you intend to sell of the house at a later date, be rest assured that certain warranties may be passed onto the new buyer. Plus, if that’s not all, an existing home warranty boosts the resale value of your home.
3. Be Part of a Select Group
Not every home falls under the purview of a warranty. It often depends on the builder you hired to do the job. A contractor must undergo a thorough screening process and their workmanship subjected to scrutiny and stringent guidelines for managing a high-quality home. The truth is, no insurance company will willingly sign off on a house that is rife with structural issues. That is why if you become eligible for warranty, it automatically becomes clear that the builders did a great job constructing the house according to your specifications and keeping the local building regulations in mind.
Building a new home is stressful enough, but when you consider the chances of structural issues down the line, it’s easy to see why a lot of future homeowners want to hire only those builders who have enrolled in home warranty programs. These insurance-backed systems allow on-your-lot builders to offer remedies in case of any structural failures. At All State Homes, we buy and pay for a 10-year structural warranty through 2-10 Home Buyers Warranty program, which offers coverage to over 5.5 million homeowners in the US. If you are on your way to building your dream home from scratch and on the lookout for a builder who offers structural warranty to protect their clients, get in touch with us here.