A recent NSW government decision to abolish Home Warranty Insurance is already biting many owner builders trying to sell their homes.
Owner builders presenting a contract of sale to prospective purchasers without Home Warranty is raising ‘buyer beware’ concerns as to the integrity of a home’s building quality and guarantees.
On 15th January 2015, NSW Government abolished Home Warranty Insurance, which had been in place for decades, was designed to protect home buyers from building works structural defects. The whole purpose of Home Warranty is consumer (the purchaser in this example) protection against structural building defects. The idea that government abolishes a consumer protection device is just astounding, particularly when it’s sole purpose was protecting the largest investment most Australians will ever make; their home.
Over 40,000 Australians choose to owner build or renovate each year. The NSW decision and subsequent blow back from concerned owner builders and prospective home buyers has germinated into commercial (non-government) firms now filling the Home Warranty gap.
Are there any owner builders who have a view or comment regarding Home Warranty?
User
Related Discussions
Owner builder worth the headache?
Q
facade of north west facing house we are renovating
Q
Where do we start with house renovation?
Q
Best design and layout for extensive renovations
Q