The initial deposit for the purchase of the new home is protected up to a maximum of $50,000 in the event the deposit becomes legally refundable and cannot be recovered due to bankruptcy, default, insolvency or fraud on the part of the builder. Deposit coverage does not cover reimbursement because of a contractual dispute between the parties.
ONE YEAR WORKMANSHIP AND MATERIALS COVERAGE
All Registered Builders are required to warrant that the home is constructed in accordance with the building standards prescribed by the National Building Code of Canada as amended by the Province of Saskatchewan, Saskatchewan New Home Warranty’s “Construction Performance Guidelines” and that the house is free from defects in workmanship and materials for a period of one year from the original date of possession.
TWO YEAR WATER PENETRATION COVERAGE
All Registered Builders warrant that the building envelope (roof, exterior cladding, windows and doors) and the basement foundation walls will be free of exterior water penetration for two years from original date of possession.
10 YEAR MAJOR STRUCTURAL DEFECTS COVERAGE
All Registered Builders warrant that the home will be covered against Major Structural Defects for ten years from the original date of possession. Major Structural Defects mean defects in workmanship or material used in the construction of a new home that results in the failure of a load bearing component. Basement floor slabs, driveways, and walkways are not considered load bearing components.
*See Limited Home Warranty Certificate for additional details