If a project is not completed, Builtin New Zealand Ltd will encourage the builder to remedy the problem and, if necessary, appoint a Certified Builder to do so, and the written guarantee will cover or contribute significantly to the cost.

Where the builder is the head contractor, the guarantee covers materials and work completed by the builder and the sub-contractors engaged by him, subject to the limitations and exclusions in the guarantee agreement.

Loss of deposit, not exceeding twenty per cent (20%) of the Contract Price, or $50,000, whichever is the less.

Extra cost of completion of the dwelling, not exceeding twenty per cent (20%) of the Contract Price, or $100,000, whichever is the less.

Structural defects for 10 years if you use a Certified Builder, 7 years for other Builtin approved builders.

Non-structural defects for 2 years.

Alternative accommodation for up to 30 days while the work is being completed.

The Homefirst Builders Guarantee is backed by an independent, Standard & Poor’s rated insurance company.  It's not just a bank account, which could be wiped out if too many claims are made, or no new income is generated.

The guarantee can generally be transferred to a new owner when you sell the house.  And because having a guarantee gives the buyer peace of mind it can help sell your home faster.