What is new home warranty Ontario?

For individuals who own newly constructed residential properties in Ontario, there exists a safeguard in the form of a non-profit organization known as the Tarion Warranty Corporation. This entity provides protection through a new home warranty program, which ensures that homeowners are adequately covered in the event of any unforeseen issues or defects with their property. With Tarion’s assistance, new homeowners can rest easy knowing that their investment is secure.

In the province of Ontario, it is mandatory for builders to register new residential construction projects with Tarion. This is to ensure that homebuyers receive adequate warranty coverage. Under the warranty, any structural defects, building code violations, and unauthorized substitutions will be covered. This measure is put in place to protect the interests of homebuyers and ensure that they receive a quality home that meets all necessary standards and regulations.

The new home warranty in Ontario typically consists of three separate warranty coverage periods:

1. The One-Year New Home Warranty Ontario: This period covers defects in workmanship and materials that may arise within the first year after possession of the new home. It includes issues such as drywall cracks, plumbing or electrical problems, and other minor deficiencies.
2. The Two-Year New Home Warranty Ontario: During the second year of ownership, the warranty protects against defects in the electrical, plumbing, and heating systems of the home. It also covers water penetration through the basement or foundation walls and defects that affect the weather protection of the home.
3. The Seven-Year New Home Warranty Ontario: The seven-year warranty period applies to major structural defects, which include issues that impair the load-bearing functions of the home or pose a significant risk of structural failure. This coverage extends for seven years from the date of possession.

In the province of Ontario, it is customary for builders to offer new home warranties to homeowners. If there are any defects found in the newly constructed home, it is the responsibility of the homeowner to report them to Tarion within a specific timeframe. Tarion then works alongside the parties involved to ensure that the warranty program is adhered to and that all necessary repairs are carried out in a timely and satisfactory manner. This process helps to provide peace of mind to homeowners and ensures that builders are held accountable for any issues that may arise during the construction process.

In summary, it is mandatory for all newly constructed residential properties to be covered by a comprehensive home warranty. This warranty offers protection to homebuyers by providing coverage for various types of defects and issues that may arise within specific timeframes after possession. This ensures that homeowners are protected and have recourse should any problems occur. The coverage provided by the home warranty usually includes protection against structural defects, defects in workmanship or materials, as well as issues pertaining to electrical, plumbing, or heating and cooling systems. This mandatory coverage is designed to give homebuyers peace of mind and to help ensure that their investment is protected for years to come.