The Contract

Once you've found the community of your dreams and selected Rivendell to build your custom dream home, the hard part is over. Now, you'll simply finish up the details that will make your dream a reality:

1. Signing the Contract - We will guide you through the process of completing your construction agreement. All questions and concerns will be discussed at this time.
2. Construction Loan - We would be happy to arrange financing for your new home, however, Rivendell does not at this time provide financing.

The Building Process

Most home buyers have a lot of questions about the construction of their home: How long will it take to build? What happens when? What does each step involve? When can we visit the site and see our home in progress? When do we have to make final decisions about cabinets, fixtures, flooring and so on? When do building inspections take place? Will we have a chance to inspect it ourselves before we take possession?

Below is an outline of the typical construction process. For mrroe details, please ask us for an information sheet.

Phase One: Design
The design phase requires a unique balance of the client's personal needs, desires and goals with the experience and knowledge of our design professionals. Due to the personal nature of this process, our goal is to work with you to design a unique residence that reflects your personal tastes, incorporates design expertise and responds to the demands of the site.

Phase Two: Pre-Construction
During this phase, a number of site tests may be conducted to examine the water table, the soil and the bearing capacity of the ground and to conduct environmental tests.

Phase Three: Foundation & Framing - Lock-up
At this time, Rivendell will ask you to start making your selections about flooring, tiles, cabinets and other finishing options. While it will be weeks before these items are installed, they must be ordered and thought out early to prevent delays later.

Phase Four: Interior & Exterior Selections
For the next several weeks, a great deal of work will happen inside and out, much of it at the same time, or overlapping. Proper scheduling is key to a smooth progress.

Phase Five: Finishing
At this point, Rivendell is busy completing the final touches and cleaning up. On the date of possession, we will complete all home warranty information to be submitted and the home is now yours!

Home Warranty Insurance

One of the great advantages of building a new home is getting a warranty. Building a home is a significant investment, and you'll want to make sure it is well protected.

Is a new home warranty mandatory? In British Columbia, Ontario and Quebec, builders have to provide homebuyers with a third-party warranty. In the rest of Canada, the decision is left up to the individual builder. With Rivendell, the choice is easy, you'll have a professional builder with a solid reputation, excellent after-sales service and a third-party warranty.

New homes built in British Columbia are covered by the strongest home warranty insurance protection in the country.

Private sector home warranty insurance companies offer these warranties based on the requirements and conditions established by the government and coordinated through the Homeowner's Protection Office (HPO).

The Homeowner Protection Act requires all home warranty insurance companies to be authorized under the Financial Institutions Act to carry out home warranty insurance business, as such home warranty insurance companies fall under the jurisdiction of the Financial Institutions Commission (FICom).

Pre-qualifying for home warranty insurance is required as a condition of the HPO Residential Builder Licence and renewal. This helps to ensure that the builder has met certain business and financial tests that satisfy the risk management requirements of the insurance industry.

Rivendell has met or exceeded all requirements and is a licensed residential builder.

Standards of Coverage - The 2 - 5 - 10 New Home Warranty

The regulations set out the minimum standards of home warranty insurance coverage as follows:

* 2 years for labour and materials

• For other than common property, in the first 12 months any defect or violation of the building code *
• For strata common property, in the first 15 months any defects or violation of the building code *
• For the remainder of the first 24 months, major systems, detachment of or material damage to exterior materials or violation of the building code *

NB: Violation of the building code must constitute an unreasonable health risk or material damage.

* 5 years for the building envelope

Defects in the building envelope including those that allow unintended water penetration such that it causes or is likely to cause material damage.

* 10 years for structural defects

Material and labour defects that result in the failure of a load bearing part of the home or any defects materially that adversely affecting use.

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