Warranty Coverage
New home owners benefit from One Year Warranty Protection and Two Year Warranty Protection against defects in work and materials, and Seven Year Warranty Protection
against major structural defects (MSD).
Warranty coverage begins on the date of possession of a home or condominium unit, and remains in effect until the end of the warranty period, even if the home is sold before the warranty expires.
For condominiums, warranty coverage also includes the shared areas of the building, referred to as the common elements.
Coverage for common elements begins on the day the condominium corporation is registered. However, there is no warranty coverage for common elements condominiums* or the common elements of vacant land condominiums**.
Warranty Enrolment Fees
For freehold homes, the builder pays the warranty enrolment fee to Tarion on or before the date the building permit for the home is issued. Condominiums are enrolled at least 30 days before construction begins. Tarion then gives the builder an enrolment number for the home. Some builders will include the warranty enrolment fee in the purchase price of the home, while others show it as an item on the Statement of Adjustments.
The cost of the warranty is based on a scale related to the sale price of homes and condominiums
For properties with a purchase price between $250,000.00 - $300,000.00 prepare to pay approximately $900.00 including taxes
Do not rely on these figures as programs often change without notice. This is for general information only. If you choose to purchase a new home, contact your realtor to help you calculate the exact warranty costs and coverage.
For more information visit the Tarion Warranty Corporation Web Site http://www.tarion.com/
152 Bayfield St.
Barrie ON L4M-3B5
(705)722-7100
