If you enter into a contract with a builder for the construction of a new home on property that you own, the money you give your builder under that contract is protected up to a maximum of $40,000.
If your builder fails to substantially perform the contract, you may be entitled to the difference between the amount you paid the builder and the value of the work and materials that were supplied.
To make a claim for financial loss protection, please contact Tarion.
A custom or contract home is not always eligible for statutory warranty coverage. For example if a homeowner, rather than a contractor, exercises significant control over the construction of the home, or contributes essential elements to it, the home may no longer be characterized as a contract home and thus not eligible for the statutory warranties. Learn more about other Types of Homes not Covered.