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10 year garentee

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  • 30-10-2009 11:06am
    #1
    rodred
    Registered Users Posts: 144 ✭✭


    Hi,

    we are doing a self build, direct labour, we have our own build insurance
    for the job. should we, or do we need to get a homebond 10 year garentee? as we are going direct labout, family menbers in the trade so will be doing alot of work pro bono.

    cheers
    Rob


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    #2
    gman2k
    Registered Users Posts: 4,076 ✭✭✭gman2k


    In a word - No.


  • Options
    #3
    rodred
    Registered Users Posts: 144 ✭✭rodred


    cheers, would it be recommended though?
    what if there was structrual problems down the line?


  • Options
    #4
    gman2k
    Registered Users Posts: 4,076 ✭✭✭gman2k


    I may be wrong, but as a direct labour project with no main contractor involved Homebond is not even open to you!
    Even if it was, the fees are not justifiable. there is a fee to be paid for the contractor, a fee for the developer, and a fee per square foot/metre of the scheme.
    And finally, I don't think these insurance schemes are worthwhile, trying to make a valid claim is extremely difficult.
    I think you would be better off putting the same money into a sink fund for future maintenance.


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