Purchasing a new home can be an overwhelming and scary process. From big financial decisions and mortgage evaluations to home touring and inspections, there’s a lot that goes into buying a home.
Then, there’s the age-old debate of new home vs. existing build. While we love buildings of all shapes, sizes and ages, one of the great advantages of buying a brand new home is warranty. As you look at homes, consider the warranty carefully and make sure your new home is protected.
To protect buyers in Saskatchewan, the Saskatchewan New Home Warranty was established in May 1976 by building industry experts, to provide a comprehensive package of warranty products and promote higher performance standards in homebuilding within the province.
What is the Saskatchewan New Home Build Warranty?
Similar to its other provincial counterparts, the Saskatchewan New Home Warranty (SNHW) acts as a third party guarantee that a builder will honour their warranty, thereby protecting the rights of the buyer.
It also acts as a backstop to those obligations should the builder be unable to fulfill their obligations.
What is Covered in the New Home Warranty?
There are 3 different kinds of warranty coverage offered by the SNHW:
- Premier Coverage includes deposit coverage, one-year workmanship and materials coverage, two-year water penetration coverage and 10-year major structural defects coverage.
- Premier Plus Coverage includes deposit coverage, a one year workmanship and materials coverage, two year delivery and distribution systems coverage, five year water penetration coverage, and a ten year major structural defects coverage
- Renovations Coverage includes deposit coverage, a one-year workmanship and materials coverage, and a two-year water penetration and structural defects coverage.
So what isn’t covered by the SNHW? Here’s the comprehensive list
How Do I Know My Builder is Registered?
Membership in the program is voluntary, though most Canadian financial institutions require a third party home warranty coverage in order to qualify for a mortgage. Therefore, choosing a builder that carries a third party warranty is an excellent indication of quality service.
Search the Saskatchewan New Home Warranty’s list of registered builders to see if your builder guarantees protection.
Is a Third Party Warranty Necessary?
There are several benefits to choosing a builder that offers third party warranty coverage:
- Getting a Mortgage: by choosing a new build with a third party warranty, you are much more likely to be approved for a mortgage, and this is not only a guarantee for your investment, but theirs as well.
- Consumer Confidence: you will have peace of mind knowing your investment will be in the hands of experienced professionals who are educated in the most up-to-date building codes and practices.
- Re-Sale Value: Your home will receive a certificate of coverage. This coverage is transferable between owners, offering added confidence in your home’s quality to new buyers and gives you a competitive advantage.
Saskatchewan Building Inspection and Engineering Services
Criterium Jansen Engineers is now conducting building inspections and engineering services in Saskatchewan. Whether you need a condo performance audit, reserve fund study, cost estimating, bid solicitation, design and repair or other special engineering investigations, our engineers deliver unmatched professional service and expertise.
If you’re a construction manager, architect, or building owner in need of expert and data-driven building inspections, contact the Criterium Jansen Engineers to get started on your project.