What’s
so special about the guarantee we are able to offer?
Our Homefirst guarantee
is underwritten by an insurance company, which is rated by Standard and
Poor’s. Certified Builders Association
is the only building association in New Zealand who can offer you this!
This guarantee can be
passed on to new owners if you sell your house.
If you are getting finance from your bank be sure to let them know about
the guarantee because some banks are more likely to lend when there’s the
safety of the insurance.
Please note this
guarantee is for the building work. If
you’re having an alteration or addition you still need to take out contract
works insurance for the current dwelling. For new builds we will take out contract works
insurance to cover the house until it is handed over to you and then your own
home and contents insurance takes over.
The Homefirst guarantee
is in addition to meeting our obligations under the Consumer Guarantees Act and
because it’s a form of insurance it covers you for a range of things. As it is a form of insurance the guarantee has
to be applied for so we can’t automatically offer it, but unless you are
literally building a house out of mud there shouldn’t’ be a problem having it
approved!
Benefits of the
Homefirst Builders Guarantee
1.
Reimbursement
of any deposit paid to the builder where the builder is unable to continue
beyond site preparation, not exceeding twenty per cent (20%) of the Contract
Price, or $50,000, whichever is the less.
2.
Completion
of the dwelling where the builder is unable to complete, not exceeding twenty
per cent (20%) of the Contract Price, or $100,000, whichever is the less.
3.
Rectification
of structural defects that the builder is unable to rectify, for 10 years.
4.
Rectification
of non-structural defects that the builder is unable to rectify, for 2 years.
5.
Alternative
accommodation and removal and storage costs.
6.
If
a non-completion or defect claim is submitted, Builtin New Zealand Ltd will
encourage the builder to remedy the problem and, if necessary, it will appoint
another Certified Builder to do so, and the guarantee will cover the whole or a
significant portion of the cost.
7.
The
guarantee covers not only the Certified Builder’s work and materials but also
the acts and omissions of any sub-contractors engaged by him.
8.
These
rights are of course subject to the specific wording, limitations and
exclusions in the guarantee agreement.
9.
The
Homefirst Builders Guarantee is backed by CBL Insurance Ltd, an independent,
internationally financed insurance company that is rated by Standard &
Poor’s.
10. The guarantee can generally be
transferred to a new owner when you sell the house. And because having a guarantee gives the buyer
peace of mind it can help sell your home up to 50% faster.
Yes, there are four different types of Homefirst Builders
Guarantee, depending on what your project is:
1.
Full
Contract – where we manage the whole project for you.
2.
Carpentry
Labour Only – where you act as project manager and organise all the materials
and sub contractors directly, so the guarantee applies only to our work.
3.
Alterations
& Additions – where work is being done on an existing building.
4.
Kitset
Loss of Deposit – covers you when you’ve paid your deposit but something
happens, such as the death, disappearance, legal incapacity, or insolvency of us
or the kitset provider, and you don’t receive the materials you’ve paid for.
We believe this is an
awesome guarantee – please give us a call on 021 443 129 if you’d like to talk
through how it could benefit you.
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