What Everyone Ought To Know Before Buying a Display Home
Buying a display home as an investment property and leasing it back to the builder for a premium rent for the life of the display village may seem like a great investment. However, a commonly overlooked aspect of this type of transaction is whether the house is covered by the Queensland Building and Construction Commission (QBCC) Home Warranty Scheme. QBCC Home Warranty Scheme The Queensland Home Warranty Scheme is a compulsory statutory insurance scheme for residential construction work carried out in Queensland. The scheme provides a degree of protection for homeowners (or future homeowners) from faulty or defective construction work completed by a licensed builder for a period of 6 years and 6 months. Should you discover any faulty or defective structural work in this period and the builder fails to rectify this work, you are entitled to make a claim through QBCC. The Home Warranty Scheme attaches to the construction work and can also be relied on by future o...