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 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.