This article profiles a number of condominium buyers in the Greater Toronto Area (GTA) who have experienced lengthy delays in the delivery of their units.

Jeanhy Shim, editor of the journal Urbanation, which analyzes Toronto’s condominium market, is quoted in the article as saying that closing dates of two to three years after a purchase are typical of condominiums in the GTA, but because of the current building boom and the resulting shortages in workers and materials, that timeframe can be extended even further.

Under the Ontario New Home Warranties Plan Act, which is administered by Tarion Warranty Corporation, there are guidelines that builders must follow in order to communicate closing delays to home buyers. Specifically, the builder must communicate major and minor construction delays in writing to the new home buyer in accordance with strict timeframes – and if these are not followed, the consumer is eligible for compensation.

Shim states that situations where the builder fails to keep their clients properly informed of delays is the exception. She notes that if it does happen, it’s more likely a result of the volume of construction that’s going on in the market.

The good news is that for many people, the wait will soon be over. It’s estimated that in 2007, 13,000 condo units will be completed in the GTA, as the construction boom of the past few years matures and leads to more finished buildings.