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Inside New Construction
July 23rd, 2014 10:06 AM

With new home construction once again booming, there is sometimes a false sense of security for the buyers who think that a brand-new house will have no problems whatsoever.  Buyer's remorse can take on a whole new meaning when a new foundation cracks or water is coming through a new roof.

Homeowners of new construction should ask for the insurance information for the general contractor.  The biggest risk owners face is running out of time to address any problems.  The statute of limitations on claims for defects in new-home construction is set at the state level, with 10 years being the most common time period.  There are also time limits for filing a suit after an owner discovers a structural defect. 

Homeowners often don't understand their rights.  Some believe they can do nothing because the one-year warranty on their home has already expired.  But this warranty from the builder does not affect the right to sue under the state statutes.

If there is a problem with construction, it is a good idea to hire a licensed reputable inspector, who has no financial stake in the home.  He can then advise whether or not one should seek the help of a qualified contractor or an architectural engineer.

Whether buying brand new or resale, buyers have the right to own a home free of defects and free of stress.  Building a new home has its own kind of stress, but should never have the defects. 

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Posted by Barbara Doeringer on July 23rd, 2014 10:06 AMPost a Comment

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