One B.C. development firm likes the proposed bill from the Redford government that ensures home builders stand behind their product.

The new Home Buyer Protection Act introduced Thursday in the legislature requires warranty coverage for new homes.

Under Bill 5, there would be 10-year coverage for major structural components and one year for labour and materials.

Mike Bucci with Bucci Developments explains how the changes will impact current warranty coverage:

“Currently in Calgary we have a 1 in 5 warranty, which means one year bumper to bumper and just five years on structure. The 2-5-10 warranty means one year bumper to bumper, two years on mechanical, electrical and other major items, five years on the building envelope and ten years on the structure, which means a much more comprehensive warranty,” said Bucci.

Bucci notes bumper to bumper can count for any deficiencies that have to do with the home.

Bucci adds the changes are already in place in his province.

“We’ve been doing it in British Columbia for years! It’s been standard practice here, and we’ve been building to those standards in Calgary but we couldn’t find a warranty provider that would do it in Calgary. Lately a couple of groups have stepped up and said “yes we’ll offer this product if you’re willing to pay”. Buyers didn’t really appreciate it, they weren’t paying for it”, said Bucci.

Bucci says this is the best thing that could happen, noting it’ll really level the playing field on new projects.

The Bill has not yet been passed.