Consumer protection legislation to protect homeowners
Las Ventanas has been building homes for 10 years, and our reputation is incredibly important to us. The integrity of our company is based on providing quality homes and ensuring our customers are well taken care of long after the purchase of their new home.
As a result, we provide a one-year, “bumper-to-bumper” warranty, in addition to providing a third-party warranty that covers all systems in the home for two years from purchase and the structure of the home for 10 years. So in the unlikely instance there is a problem, our customers can rest assured that it will be taken care of. However, many homebuilders don’t offer this level of protection for their buyers. In fact, builders are not required to provide a warranty of any kind to their buyers.
This legislative session, that could change for the better. Legislation has been introduced — House Bill 632, the Home Warranty Act — that will ensure mandatory warranties for construction of new homes to protect consumers. This legislation mandates all homebuilders to protect homebuyers with a third-party warranty covering major systems for two years and the structure of the home for 10 years.
The bill is clear-cut and well defined, offering protection to homebuyers and alleviating litigation costs that can be burdensome, as well as freeing up the courts from litigation cases that could easily be handled if warranties were required. In addition, the bill benefits everyone in New Mexico, as it keeps the cost of insurance and housing affordable and, importantly, provides homeowners with solutions to any construction defects — all while protecting those in the construction industry from unnecessary lawsuits.
As a homebuilder dedicated to ensuring customer satisfaction and quality building, I encourage lawmakers to support this legislation to create the needed layers of protection for homebuyers.
For most people, their home is their single largest investment. People have enough to worry about. Worrying about paying for an issue with their home shouldn’t be one of them.
T. Scott Ashcraft is the founder and owner of Las Ventanas Homes. With four generations of homebuilding experience, Las Ventanas Homes takes pride in offering homes that are comfortable, earth-friendly and built to last. He lives in Albuquerque.