Purchasing a property might be one of the most significant decisions you’ll ever make. And protecting the investment would be a top priority for anyone as the Australian real estate market is dynamic. While many Australian homeowners are familiar with home insurance, a home warranty is a different type of protection.
Home insurance typically covers unexpected losses due to natural disasters or fires to protect homeownership. However, a house warranty scheme, such as the QBCC home Warranty Scheme in Queensland, provides coverage for incomplete construction or any flaws seen during renovation.
Usually, the contractor buys the home warranty scheme on behalf of the homeowner for all residential construction work valued at more than $3,300 (including materials, labour and GST).
Protection Against Unexpected Losses
Home warranties act as a layer of protection for deficiencies in the structural integrity of the property such as plumbing, lighting, walls and many more. Because of this, you can effectively budget and save you from out-of-pocket expenses.
Peace of Mind
Having a home warranty gives you the assurance that you are safe in the times of necessary breaks down. This scheme can be more beneficial for the new homeowners who are not aware of their home’s systems. Homeownership is less stressful when you know you have a safety net for expensive repairs.
Reduces Long-Term Maintenance Costs
Some of the warranties may cover routine maintenance services like system inspections or HVAC tune-ups. These timely services help to extend the lifespan and lower the chances of malfunction allowing you to save bucks for a long time.
Addresses Issues with Incomplete Construction
In some cases, incomplete construction can leave hidden issues such as improper insulation, water leaks foundation shifts etc. A home warranty can provide coverage for these problems, even if they aren’t immediately noticeable after moving into the home.
Home Warranty in Australia is essential for safeguarding the property and ensuring that the investment remains safe. Not only does it help to recover the losses but also provides you peace of mind. So whether you’re building a new home or renovating it, a home warranty can be a smart choice.
