2-5-10 Home Warranty

2-5-10 Home Warranty

As a Nanaimo Realtor I often do open houses at strata, new construction projects.  One of the questions I often get is what is the 2-5-10 Home Warranty programme and what does it cover?

The 2-5-10 Home Warranty is run through the Homeowner Protection office.  As this is a question that I often get I thought it would be a good idea to share some information with you through a blog post.  I checked the HPO website and this is what they have regarding the 2-5-10 Home Warranty as it pertains to strata new construction.

Home warranty insurance on new homes includes a

Minimum of 2 years on labour and materials, 5 years on the

building envelope, including water penetration, and 10

years on structure. The 2-year labour and materials

Coverage is broken down as follows:

 

Any defect in materials and labour:

• 12 months on detached homes and on non-common

property in strata units (includes fee simple homes)

 

• 15 months on common property of strata buildings

Defects in materials and labour related to the delivery and

distribution systems (electrical, plumbing, heating

ventilation, air conditioning, etc.):

 

• 24 months for all buildings.

Strata homes:

 

• Strata unit: Begins at the earliest of date of first occupancy or date of

transfer of legal title to first owner.

 

• Common property: Begins at the earliest of date of first-unit

occupancy in strata building or date of transfer of legal

title to first owner in building.

If you require additional information on 2-5-10 Home Warranty please give me a call.