What is Atlantic Home Warranty?

January 13, 2008 · Filed Under First Time Buyers, New Home Construction and St. John's Real Estate · Comment 

With all the new subdivisions in St. John’s and surrounding areas, it’s becoming a common question: “is this property covered under the Atlantic Home Warranty?” A follow up question is”what does it cover?” People hear about the Atlantic Home Warranty but it’s apparent they are unaware of the details.

Atlantic Home Warranty offers a 7-year limited home warranty. This is automatically transferable and increases the value of your home. The warranty stays with the house, not the owner.

The coverage details are listed below.

  1. Optional Deposit Protection, up to a maximum of $20,000.
  2. A guarantee that the Builder will repair eligible defects in workmanship or materials supplied by the Builder during the first year of ownership.
  3. Protection against major structural defects during the remainder of the warranty period.
  4. A conciliation service to handle any disagreements between you and your builder during the first year.
  5. A total aggregate limit of liability of $50,000.

To determine if a specific builder is a member of the Atlantic Home Warranty program, they are listed on their web site by province and area. Simply click here and follow the directions. You may also contact AHW directly to verify if the Builder is a Member.

It is important when looking to buy a new construction home that you find a builder that is a member of the Atlantic Home Warranty program.

Your home will be one of the biggest investments in your life, make sure you have the peace of mind….make sure your home is covered.

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Confidence in Newfoundland sets off home buying binge

December 19, 2007 · Filed Under First Time Buyers, Market Trends and St. John's Real Estate · 1 Comment 

The Globe and Mail printed an article on December 17, describing the recent boom in the Newfoundland Real Estate market. Dubbed “The Danny Williams Effect” after the recent Hebron offshore oil project, homes in St. John’s and surrounding areas (including Mount Pearl, Paradise, CBS, and Torbay) surged 68% from October to November. While it hasn’t been classified as a sellers market yet, the activity noticed from reduced inventory, multiple offers on homes and at times over asking prices in recent weeks, are clearly pointing in this direction. Inventory is down with pre-existing homes which leads buyers to the decision of building. The new construction market, which once had a 3 - 4 month start-to-finish time frame are booming and are quoting 6 - 8 months for a move in date.

For buyers, this means paying close attention to the market. (Email me and I will send you daily listings as they appear on the market) and make sure you get to a bank or financial institution of your choice and get pre-approved. Having both these tasks completed and working with an experienced Realtor will certainly help you in the 2008 real estate market.

Read Lori McLeod’s article in the Globe and Mail here

Let Fraser and Stephen Winters help you with buying or selling your home in 2008.

Call us today - 709-682-9245 or 709-682-9045


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