10 things you need to know about your 10-year Structural Warranty
What is the very BEST thing about buying a brand-new home? Is it the chance to move into a beautiful new build home that nobody else has ever lived in? Or the fact that your new home is finished to perfection, with no annoying DIY jobs to worry about? And no need to redecorate over the previous owner’s dodgy choice in wallpaper?
Yes, Yes, and YES!
But there is something even better than all those things about buying a new property. The 10-year Structural Warranty that comes with it! This 10-year guarantee is a big attraction to new home buyers because it offers that peace of mind that you will be covered if something is not right with the construction of your new house.
But what does a Structural Warranty cover? And is there anything you should look out for when you are buying your home?
1. What is a Structural Warranty?
Simply put, a Structural Warranty is an insurance policy for your newly built home. The warranty is taken out by the property developer who builds your home, and its purpose is to protect you, the buyer
2. How long does a Structural Warranty last?
Standard Structural Warranties usually last for 10 years.
3. 10 years? Why so long?
10 years is considered to be the standard length of time that any structural issues will become apparent.
4. What does a Structural Warranty cover you for?
All policies are unique, and you should always check what your developer’s warranty will cover. Kingslea MIA provides a 10-year Structural Warranty which covers the following:
- 10 years of protection for your new build home to include:
- 1 year builder’s warranty against any defects (also referred to as snagging).
- An additional 8 years of structural protection.
- Protection against land contamination.
- Cover for your deposit in the event the property developer becomes insolvent before your home is completed.
A Structural Warranty is an excellent marker for upholding the quality of building work too. Insurers appoint a dedicated inspector who comes out at every stage of construction from the foundation up to roof and completion of the build. So not only is the work checked by a building control officer. It is double-checked by the warranty providers building inspector too! How great is that?!
5. What is classed as Structural?
Structural cover is exactly what it sounds like – it covers anything that affects the main structure of your home, including:
- All main structural walls (external walls and internal supporting/load bearing walls)
6. What is not covered by a Structural Warranty?
Your Structural Warranty will not cover:
- Interior furnishings such as carpets, decoration, bathroom suites etc.
A Structural Warranty would not cover you against general wear and tear to the property, or any repairs needed due to poor maintenance on your part. Similarly, damage caused by the weather or a natural disaster would not be covered.
The clue is in the name, the purpose of this kind of warranty is to protect everything that relates to the structural integrity of your property!
7. When could a Structural Warranty be important?
All new properties are built to last, but on very rare occasions there may be an issue relating to the structure of your home. For example, a structural wall could shift and cause a window to crack. If this damage was linked to a problem with the foundations of the property, your Structural Warranty should cover the costs of repairing the foundations and the subsequent damage caused.
8. How is a Structural Warranty different to home insurance?
A home insurance policy is completely different to a Structural Warranty. A home insurance policy will protect you against issues that are not related to the structure of your home or due to the fault of the developer such as flooding or fire.
It is important to know that your home insurance provider, and mortgage lender will require details of your Structural Warranty before making you an offer. But any reputable developer – like us! – will provide you with all the information you need as soon as you need it!
9. What happens to the Structural Warranty if I move to a new house?
If you sell your house before the 10-year Structural Warranty period is up, the policy will be transferred to the new homeowner. It will not cover any additional work you have had done to the property since it was built such as an extension or loft conversion.
10. Do Kingslea MIA provide a 10-year Structural Warranty?
Of course we do! Kingslea MIA guarantees a 10-year Structural Warranty with all of our new homes! Have you seen our new homes by the way? They’re pretty fantastic!
Click here for details on all of our current new homes in Birmingham, Shirley and Warwickshire, and feel free to contact us if you have any questions at all!