When you purchase a cellular phone, you get a 1-year warranty which usually covers manufacturing defects and hardware malfunctions but not damage from accidents and misuse of products. This warranty is a guarantee for repair and replacement within a specific period of time. In a real estate transaction, most builders offer a 1-Year or 11th Month Builder’s Warranty.
Most new home buyers do not realize the importance of a builder’s warranty inspection only until it’s close to expiring. The big deal about a warranty inspection near the end of the year is that it’s your final opportunity to give your builder the responsibility for the items that need repair or replacement. During the warranty inspection, repairs including safety hazards should be fully documented before the builder is relieved of his responsibility.
What is inspected during a Warranty Inspection?
The goal of a warranty inspection is to identify items that are safety hazards or those that are not performing or functioning well. The licensed professional home inspector will check the systems and major components of the home including:
- Heating & Central Air Conditioning System
- Plumbing Connections & Fittings
- Electrical Outlets, Wiring & Panels
- Windows & Doors
- Drywall, Walls & Ceilings
- Fireplace & Chimneys
- Gutters & Downspouts
- Decks & Wood Structures
What are the Advantages of a Warranty Inspection?
Like any other warranties, a builder’s warranty is supposed to protect the homeowners from unforeseen expenses and repair bills. It can also act as a buffer especially for homeowners who don’t have emergency funds.
One of the myths surrounding a new home is that it’s perfect and that nothing can go wrong. This is an absolute misconception. That is why there are new homeowners who don’t realize the immense benefits of a builder’s warranty inspection only until the warranty period is over. During the first couple of months of occupancy, there might be obvious but easy to repair issues. Unfortunately, there are still many hidden defects that an average homeowner might be unaware of. Most construction can go unnoticed until 3 to 5 years unless a trained eye thoroughly inspects the property.
Furthermore, even if a home inspection was conducted before moving in, it may not guarantee that all systems will still be in optimal condition after a year of occupancy. Building materials may expand and contract due to weather conditions during the time of construction. By the time you’re settled in the home, these construction issues may start to become apparent.
Is it Worth It?
Of course, it is! Let’s narrow down the reasons why it’s more than worth it.
- The builder is responsible for repairs within the first year.
- The purchase price of the home has already included the cost of warranty repairs so, in essence, you’ve already paid for it so you need to go for it!
- Think of the amount of money you can save down the road even if you spend extra money for inspection now. Imagine not having to pick out for money in the future.
Remember, a home warranty reassures the buyer and also provides the seller with a measure of protection against complaints regarding home issues and defects after closing.