BC Listings

Some important considerations in selecting a home for sale from the Real Estate for sale BC

If the home for sale is less than 10 years old, you should check the Home Warranty!

Third-party home warranty insurance should cover homes less than 10 years old.    In fact, the Homeowner Protection Act makes warranty coverage mandatory for new homes built by licensed residential builders.

The warranty coverage can be accessed here:   BC housing – New home registry.

Home warranty insurance may not be provided if the builder qualifies for an exemption.   For instance,  purchasing third party insurance is optional for an ‘Owner Builder’, where the owner builds the house for his personal use.   However,  If third party insurance isn’t purchased,  the owner-builder is personally responsible for any defects in labour and materials for 10 years after occupancy.

Make Note of Coverage Expiry Dates

The home warranty insurance provided on new single-family and multi-family homes built for sale in BC protects against different construction defects for specific periods of time.
Better known as 2-5-10 home warranty insurance, it includes:

2 years coverage on materials and labour

Some limits may apply, including:
12 months coverage for defects in materials and labour for detached homes and strata units (including fee-simple homes).
15 months coverage for defects in materials and labour for the common property of multi-unit strata buildings.
24 months coverage for defects in materials and labour for major systems (electrical, plumbing, heating, air conditioning etc.).

5 years coverage on the building envelope

Covers components that separate the indoors from the outdoors, such as exterior walls, foundation, and roof.
Includes unintended water penetration.

10 years coverage on building structural defects

Covers defects in materials and labour that result in the failure of a load-bearing part of the home.
Covers any defect that causes structural damage and affects the use of the home for residential occupancy.
Read your policy thoroughly and make note of what’s covered, the expiry dates and your responsibilities. Before each expiry date, inspect your home to identify any problems. Strata properties may have different expiry dates for individual units and common property.

Know what’s covered:
Review your policy and make sure you understand the extent and limitations of your coverage.
Certain aspects of a new home may not be covered by the warranty, including:

• Normal wear and tear, acts of nature, landscaping, fencing, patios, detached structures such as sheds, carports or garages, or failure to carry out proper maintenance.
• Design, materials or labour supplied by the owner or someone other than the builder, their workers or sub trades.

Buying a resale home

Because the warranty applies to the home and not the owner, it automatically transfers to the new owner if the house or unit is sold within the warranty period.

Our BC Properties for Sale pages are a great way  to get to know different communities.   Begin with the photo presentations highlighting each community. Then review detailed information  and real estate Market statistics specific to that community. Always check the Sold Real Estate prices!

Each community page also allows you to quickly access Homes for Sale in that area, broken out by property type (houses for sale, condos for sale, townhouses for sale, rowhouse for sale, duplex for sale, land for sale). Contact us with any questions you may have in regards to the Real Estate BC listings.