As a homebuyer, understanding the Defect Liability Period (DLP) is crucial to ensuring that you’re protected against any defects or issues that may arise in your new home. However, there are several common misunderstandings about the DLP that can leave homeowners confused and frustrated.
The DLP is the Same as the Warranty Period
Many homeowners assume that the DLP and warranty period are one and the same. However, this is not the case. The DLP is a specific period during which the builder is liable for any defects or issues that arise in the property, whereas the warranty period refers to the timeframe during which the builder is responsible for repairing or replacing defective materials or workmanship.
The DLP Covers All Defects and Issues
While the DLP does provide protection against defects and issues, it’s not a blanket guarantee. The DLP typically only covers defects related to structural integrity, waterproofing, electrical and plumbing, and finishing work. Issues related to normal wear and tear, maintenance, or natural disasters are usually excluded.
The DLP is Only Applicable to New Homes
This is another common misconception. The DLP can apply to both new and existing homes, although the duration and scope of the DLP may vary depending on the circumstances.
Homeowners Are Not Required to Maintain Their Property During the DLP
While the DLP does provide protection against defects and issues, homeowners are still required to maintain their property and report any defects or issues promptly. Failure to do so can void the DLP or limit the builder’s liability.
The DLP is a One-Time Guarantee
Finally, some homeowners assume that the DLP is a one-time guarantee that covers all defects and issues that may arise during the specified period. However, the DLP is typically a renewable guarantee that requires homeowners to inspect their property regularly and report any defects or issues promptly.
The Defect Liability Period is an essential protection for homeowners, but it’s often misunderstood. By understanding what the DLP covers, what it doesn’t, and what’s required of homeowners, you can ensure that you’re protected against defects and issues that may arise in your new home. Remember to always inspect your property regularly, report any defects or issues promptly, and maintain your property to ensure that you get the most out of your DLP.
