We recently returned from a business trip to the very Northern part of China. And, I tell you we had the BEST FOOD EVER. Fantastic hospitality too.
Since then I’ve been reflecting on the honesty and integrity displayed by our host in his personal and business dealings. Can these values really still exist today? Business deals honoured on just a handshake? Up there, they did.
Bring back that world! I like to think that there are still lots of good people here in NZ, don’t get me wrong! But we all know sometimes things don’t go to plan, people aren’t who they purport to be, or don’t do what they say they will or for reasons out of their control they aren’t able to honour their commitments.
Our latest poll has been about building guarantees. Is it worth paying for one and how will it protect me? Or should I just sign the waiver and save the money?
I mean, products all carry some kind of manufacturers warranty and the building code has all kinds of checks and balances to ensure that homes are constructed of quality materials.
Builders themselves (LBP’s) must personally guarantee their workmanship for 10 years. Other tradesmen must be registered and make guarantees in their fields too. On top of that, insurance is taken out to cover the build itself. So surely there is enough coverage there? Right?…
I would argue, Wrong. The purpose of a guarantee is to plug a hole that exists between these areas so that should reparations need to be made, you are protected.
While business owners don’t like to think it, no one is sure that their business will be around for the next 10 years. If something does go wrong, and the business isn’t around anymore, you won’t be able to seek reparations.
The guarantee will step in and protect your deposit if something were to happen to your builder. Guarantees provide you surety that after trying to resolve things with your builder, if they can’t fulfil the obligations themselves, you will be able to finish your build, as well as cover any extra costs that may result from that. It also covers correction of defects in workmanship, materials and structure for up to 10 years.
Generally Guarantees work out at approx. half a percent of the total build cost. So in a $400k build you would only expect to pay about $2k.
In the end it’s about your peace of mind and protection of your biggest investment, in our opinion, it’s worth it.
Our next poll is a bit more fun and imaginative. It’s a design challenge: You have one area of your home where you can go crazy! Tell us which room and what you would do! Better still, find us some pictures!
We have a gift voucher up for grabs to get your dream started!
Respond at: www.facebook.com/nickbosanacbuilder/
or, Call Now to talk shop about your build queries: 09 236 8413