No homebond - red flag?

fullerand

My parents are initiating the process of buying a new build house in a small estate (~6 houses) in Dublin.

They're starting to get cold feet because there is no Homebond on the property.

From searching the forums I get the impression that most people here would say Homebond's not worth the paper it's written on (anyone disagree?), but I'm trying to figure out if it's not uncommon for new builds to come without Homebond (or similar structural insurance), does anyone have any insight here?

Basically I'd like to figure out if it's a red flag (i.e. is it strange that the builder didn't opt in for it), or if it's perfectly normal and they shouldn't expect it. The developer is [snip]

Any help or advice appreciated, thanks!

Mod Note: Removed name of developer.

muffler

I'm in Donegal and retired now so can't really offer any worthwhile opinion especially concerning development in Dublin. Homebond is a waste of time and money by all accounts. Over the years I'd estimate that less than 20% of houses built here in this county were covered by Homebond. In saying that all new builds have to comply with building regulations and building control regulations so there will be certification available.

fullerand

https://www.boards.ie/discussion/comment/121196212#Comment_121196212

Thanks muffler, that's very helpful. As low as 20%, interesting - I'll pass that on to my parents to help ease their jitters.

If you were in their situation is there some alternative you'd be asking for? Architect's certificate of compliance, or the builder's indemnity insurance cover, or something like that?

muffler

Building Control regulations were amended back in 2014 so all new builds now have a paper trail and certification from BCMS (building control management system). Your/your parents solicitor should be able to request all necessary paperwork including certificates from the developer.