Bucci is officially the first multi-family developer in Calgary to offer the 2-5-10 New Home Warranty through National Home Warranty. This is why you should care:
Buying a home can be a scary decision. Especially when you see horror stories about new developments’ repairs falling on home owners, you want to make sure you have a warranty you can trust. The current standard is a 1-5 warranty. This warranty covers everything for the first year and then an additional five years on the structure of your home.
In comparison, the new 2-5-10 warranty provides the following in addition to a first year’s full coverage:
- Two years coverage on major building systems including plumbing, heating, electrical, elevators, etc.
- Five years coverage on building envelope including coverage on unintended water penetration
- Ten years on major structural items
*We have adopted the British Columbia standard for home warranty. You can compare British Columbia’s 2-5-10 warranty and the current Alberta warranty on National Home Warranty’s website.
This new warranty provides a longer and more comprehensive coverage for those needing extra “peace of mind”. This will become the new standard as new regulations are expected to be put into place this summer. New homes that stick with the old 1-5 warranty will compare unfavourably with this new coverage. Rest assured that, in the future, buyers of resale condominiums will be asking “Is this home still under warranty and, if so, how much coverage is there?” We believe that a 2-5-10 warranty will command a premium when it comes to reselling.
By now you may be wondering: if this warranty is so much better than the standard 1-5, why aren’t other Calgary developers offering the 2-5-10? Traditional developers are not as eager to offer the new coverage as it means a higher cost and risk. Bucci is partnered with Aviva plc to ensure our Tribeca development is built in the standards of a 2-5-10 warranty. We want to take away any additional stress that can come from a home purchase so we’re happy to be the first official developer to provide the added coverage.