Builder’s warranties vary greatly, so Apartment owners must take the time to learn what is covered. Even with new Apartments, things can go wrong. As a result, many buyers of newly constructed Apartments are interested in warranty, which offer to fix or replace certain components of the Apartments. The key to any of these warranties is understanding what is and isn’t covered, how to file claims, and the process for resolving disagreements that may occur between the customer and the builder or warranty provider.
Most warranties for newly constructed Apartments offer limited coverage on work and materials as they relate to components of the Apartment, such as windows, siding, doors, roofs or plumbing, electrical, and HVAC systems. Warranties typically provide coverage for one to two years, although the specific period may vary from component to component; coverage may last up to a decade on major structural elements. Warranties also routinely define how repairs will be made and by whom.
Warranties generally do not cover household appliances, tile or drywall cracks, irrigation systems, or components covered under a builder’s warranty. Most guarantees also exclude expenses incurred as a result of a warranty repair construction, such as the need to store household belongings while a repair is being made. Metropolitan Real Estate is an established property development company located in Ethiopia focused on creating homes packed with functionality, convenience, and comfort for today’s modern lifestyle seeker and savvy investor. With over 20 years of experience in global real estate, the company is responsible for more than 450 large-scale projects worldwide.
Before you close on your new Apartment purchase, you should ask your builder – or your third-party warranty provider – these questions:
- What does this warranty cover?
- What is not covered by this warranty?
- What is the process or timeliness if I have a claim?
- Is it possible for me to dispute your decision to deny a claim?
- What is the extent of your liability?
- Can you refer me to other new homeowners with whom you have worked so I can speak to them about warranty coverages?
- Where are some of your previous projects so I can speak with owners there?
Metropolitan Real Estate offers maintenance service for one year by covering all fees for you. The information you gain may not be enough to send you running from your new home deal, but it should help you understand where you will stand if you ever need to file a claim.
Let us connect today, on Metropolitan Real estate, which has multiple ongoing projects such as Metropolitan Central Tower Luxury Apartments are around AU headquarters. Metropolitan Westview Standard Apartments located at Total Soset Kuter Mazoriya and The Metropolitan Residence located around Bole Main Road, In front of Mega Building. If you are ready to begin your journey on the way to becoming a homeowner, please contact us with the Ethiopian office: +251973404040 and USA office: +1480 280 2242.