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Statutory Warranty Information
Your warranty coverage includes protection both before and after you take possession of your new home.
Before Possession
As a new homebuyer, you get financial protection before you take possession. The four main types of coverage under financial protection include the following.
- Deposit Protection
Your deposit is secured against the breach of the agreement. - Custom Finishings
Selected items of construction or finishing cannot be substituted without the buyer’s written consent. - Financial Loss Compensation
Money given to the builder under the construction agreement to build a freehold home on your property is protected. - Delayed Closing and Cancellation
The warranty protects you against project delays or cancellations, offering various resolutions in the form of compensation, or agreement cancellation.
After Possession
After you take possession of your new home, the warranty coverage is divided into three different periods, each offering protection against specific items.
- One-Year Warranty
The coverage begins on the date of possession and lasts one year from that date and includes items such as defects in work and material and unauthorized substitutions. You have two formal opportunities to request for the warranty service in your first year of occupancy:- During the first 30 days of occupancy
- During the last 30 days of the first year of occupancy
- Two-Year Warranty
The warranty continues to provide coverage into year two and includes items such as water penetration through exterior walls, heating system, plumbing system, electrical system, and exterior cladding.
- Seven-Year Major Structural Defect Warranty
Major structural defects in your home, as defined under the Ontario New Home Warranties Plan Act, are covered for up to 7 years and include any defect in the materials or work failing a structural load-bearing element of the building.
* The details provided above are specific to freehold homes and serve as a summary of coverage. For a comprehensive understanding of coverage, please visit Tarion’s official website.