Purchasing an Allen, TX new construction home is an exciting event. Everything is brand new, untouched, and waiting for you to make it yours. But even with new homes, things can go wrong, making builder warranties important. They’re essential for protecting your investment and giving you peace of mind. Every new homebuyer in Allen should know what these warranties cover and how they work.
Allen, TX Real Estate Market Watch
As of July 2024, the average home sales price in Allen was $540,000, a decrease of 2.8% from the previous year. However, real estate data is constantly changing. Contact a North Point Agent for help buying and selling new and pre-owned homes in Allen, TX.
Builder Warranties for Your Allen, TX, New Construction Home
What is a Builder Warranty?
A builder warranty is an agreement provided by the home builder that guarantees the repair or replacement of specific components of the home within a set time frame. This warranty protects homeowners from costs associated with defects or issues in the home’s construction. If something goes wrong, the builder will take responsibility for fixing it.
Types of Builder Warranties
Builder warranties typically fall into two main categories:
- Materials and Workmanship Warranty: This warranty covers defects in materials and workmanship for one to two years. It includes coverage for doors, windows, and plumbing systems, among many others.
- Structural Warranty: This usually lasts five to ten years and covers significant structural elements of the home, such as the foundation and framing.
What to Watch Out for with TX New Construction Builder Warranties
Understanding the specifics of a builder warranty is essential. Here’s what you need to know:
Warranty Coverage and Exclusions
Builder warranties are helpful, but they don’t cover everything. Normal wear and tear, damage from natural disasters, or issues caused by neglect aren’t usually covered. For example, you could be responsible for the repairs if you build a custom deck and accidentally hit a water line while digging. Even if the builder’s warranty covers plumbing issues, this damage may not be included.
Make sure the warranty clearly states what is covered and what is not covered by the builder to avoid confusion and unnecessary expenses.
Warranty Transfer to New Owners
If you ever decide to sell your home, some warranties can be passed on to the new owner, which is an excellent selling point when you sell your house.
Reviewing and Understanding the Warranty Terms
To ensure coverage under a home builder’s warranty, file a claim correctly and on time. If a problem occurs while the warranty is active but you delay reporting it, you might miss out on the coverage.
Difference Between Builder Warranty and Home Warranty
A builder’s warranty, paid for by the builder, covers new construction or remodels, addressing issues with materials, major systems, and structural components. In contrast, a home warranty that the homeowner purchases covers essential appliances and systems.
Are Builders Required to Provide a Home Warranty in Texas?
In Texas, builders are not legally required to provide a home warranty. However, many reputable builders offer warranties as a standard part of their service to provide buyers with peace of mind.
Are you prepared to protect your investment in a TX new construction home?
Understanding builder warranties is key to ensuring that your new home in Allen, TX, stands the test of time. As you explore your options for new construction homes in Allen, take the time to review and understand the warranty terms offered by each builder. This knowledge will empower you to make an informed decision and give you confidence in your new home purchase.
Own Your Dream Home in Allen, TX
Contact Norma Wall, Broker at North Point Realty, at 214-212-6770, or visit our contact us page to reach us. Let us help you make your new construction home purchase a smooth and successful experience.
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