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Do New Construction Homes Come With A Warranty?

new construction home warranty

Do New Construction Homes Come With A Warranty?

One of the biggest advantages of a new construction home is that pretty much everything from top to bottom is brand new.  Being brand new does not mean picture perfect though as there still can be problems/issues lurking in a new construction home.  Buyers of new construction home have the option to have a home inspection performed and the inspection usually is done in multiple stages as the progress of the home is completed.  In this article new construction home buyers can learn what sorts of warranties and guarantees they may get after they close on the home.

New Construction Home Warranty

The warranty coverage and warranty time frames will vary builder by builder and buyers need to understand what type of warranty they are getting before they sign on the dotted line.  By working with a real estate agent or real estate attorney the buyer can have someone in their corner representing their best interests.  Warranties for things like appliances installed in the house will be passed onto the buyer by the builder after closing on the house.  So if for example the refrigerator goes bad the buyer will need to contact the refrigerator manufacturer to get service for it.  On the other hand, if the issue is related to the warrantyinstallation of the appliance then the builder should be taking care of any defects related to the appliance installation.

Many builders offer a one-year general warranty on the home which covers defects outside of normal wear and tear.  Some...

What To Know About Capital Gains Tax When Selling A Home

capital gains and selling a home

What To Know About Capital Gains Tax When Selling A Home

Capital gains tax is a tax homeowners and real estate investors will pay to the government after selling their home or investment property and they have made a profit.  Depending on the level of profit and whether the homeowners are married or not the tax can be zero or some other amount more than zero.  Real estate investors have different rules to work under and that will have an impact on what taxes they pay.  This article looks at the capital gains tax at the federal level and what homeowners and investors need to know about it.

Note on Tax Advice

The numbers in this blog article are general and with the tax laws being complicated, this article is intended to help homeowners and real estate investors better understand the capital gains tax process when it comes to selling a home or investment real estate.  As with anything tax related things could be different based on individual circumstances and both homeowners and real estate investors are advised to consult with a Certified Public Accountant (CPA) or a Tax Attorney for advice related to their particular situation.  By utilizing a tax expert money can be saved in the form of avoiding penalties for getting things wrong or by learning about other tax breaks that may be available based on an individual’s personal situation.

Home selling expert Bill Gassett of Maximum Real Estate Exposure provided sage advice on real estate taxes.

Paul, I have owned and sold several homes and have been a Realtor for three decades. So,...

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