Top guarantee from builder to boost buyer confidence
One of New Zealand’s largest and longest established residential builders, Signature Homes, has announced the launch of the Signature Homes Home Completion Guarantee.
The Home Completion Guarantee is a unique guarantee to finish a buyer’s home in accordance with their building agreement in the event a Signature Homes franchise builder encounters financial difficulty and is unable to complete the build.
Signature Homes Guarantees Limited, a separate company, will manage the guarantee programme, which has been issued with a performance bond to protect home buyer deposits and progress payments.
Signature Homes general manager Phillip Howe says the key point of difference for the Home Completion Guarantee is the absence of deposit limits and claim maximums.
“Should there be a problem, we guarantee to fully finish your home as per your building agreement at no extra cost,” says Mr Howe.
“The key difference with the Home Completion Guarantee is that many other guarantees have limitations on loss of deposit, and in terms of completion, maximum amounts claimable. We don’t have those limits.
“Typically clients building homes are paying significant deposits, so they are potentially quite exposed should an issue arise, he says.
“With the Home Completion Guarantee, they are protected. The combination of our Home Completion Guarantee with the other guarantees we have put in place during the last 25 years provides buyers with peace of mind that no one else can match.”
Mr Howe says the other major point of difference with the Home Completion Guarantee is that Signature Homes will appoint a new builder to complete a buyer’s home in the event that becomes necessary.
“It is important to us that we can be hands on in resolving issues for our clients, rather than rely upon a third party,” says Mr Howe.
“With the Home Completion Guarantee, we are in a position to ensure our client’s home gets completed to our standards by a builder of our choosing, and that we do the right thing by them.”
National sales manager Brad Hay says the response to the Home Completion Guarantee the past week has been a mixture of interest, relief and renewed confidence.
“People have said that the guarantee is invaluable. It gives them piece of mind.
“It’s early days, but we have already had people come to us because they have been concerned about the financial stability of a building company they have been dealing with, and this guarantee has bumped us up to the top of their list, not to mention giving them the confidence to proceed with building their home,” says Mr Hay. All home buyers, who sign a new contract with Signature Homes, will be covered under the new Home Completion Guarantee. For details visit www.signaturehomes.co.nz.