There are two major building-trade organisations in New Zealand: the Certified Builders Association of New Zealand and the Registered Master Builders Federation.
Both organisations accredit builders, based on certain criteria (see www.consumerbuild.org.nz for details), and offer building guarantee schemes.
- The Certified Builders' guarantee is run by Builtin New Zealand (it's called the "Homefirst 10 year Guarantee") and covers the work of a certified builder who belongs to the scheme.
- The Master Build (MB) Guarantee is run by Master Build Services. You can apply for an MB Guarantee only if you've hired a registered Master Builder for the building project.
The cost of a guarantee varies, depending on the cost of your house and type of coverage you opt for (labour-only, three-year guarantee, five-year guarantee, and so on). We checked with both organisations and found that the most complete guarantees usually cost around $700 to $1000 (including GST).
Building guarantees - limitations and exclusions
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