The Open Door Blog
Whether you own a new home or condo, are considering buying one, or just love to dream about it, the Open Door blog is here to share stories that can help you protect what is likely the biggest investment of your life.
The Open Door blog is published by Tarion, a non-profit corporation that administers Ontario’s New Home Warranty Plan and registers all new home builders in Ontario. Click here to learn more about us.
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- March 4, 2021
Three new (and better) ways to learn about your warranty
Buying a pre-construction home is an exciting journey. It can also be a long one. The amount of time you’ll have to wait from when you sign a purchase agreement to the moment you move in will be months or, in the case of condominiums, even years.
As a new home buyer, you’re entitled to protections under Ontario’s new home warranty program. The length of this coverage is also long, consisting of pre-possession coverage for deposits and improper delays and a seven-year defect coverage that begins on the date of possession.
You want to be informed about your warranty, but with everything else that’s going on, you don’t necessarily need to know everything all at once. We get it – you don’t want information overload. And that’s why we’ve introduced an array of learning tools that can be used as needed at various times throughout the new home buying experience.
If you’re thinking of buying or already own a new home, you’ll want to check out the following new learning tools:
1. New Print and Online Brochures
Our “Warranty Coverage for New Homes in Ontario” brochure has always been a popular item. Now, we’ve made it even better. The newly updated and expanded brochure provides an ideal introduction to the warranty coverage that comes with new homes. Available in freehold and condominium editions, it now covers additional topics such as the respective roles of the homeowner, builder and Tarion.
Each brochure is available in an online version that include links to other helpful resources, such as videos, that provide further details about warranty coverage and the warranty process.
Are you a new home builder, real estate professional or lawyer? If so, you’ll find these brochures to be an excellent way to pass on warranty information to your clients.
For PDF versions of the brochures, visit our Publications Library. For online versions, head over to our new Learning Hub.
2. Warranty Information Sheets
Beginning February 1, 2021, purchasers will notice something new when they prepare to sign the deal on a new house or condominium. This is because builders and vendors will be required to attach a Warranty Information Sheet to every new home purchase agreement and construction contract.
The Warranty Information Sheet, which is tailored to the type of home being sold, provides a basic overview of warranty coverage (including deposit protection and compensation for closing delays), highlights the importance of the pre-delivery inspection, and directs new home buyers to additional resources where they can go to learn more.
The Warranty Information Sheet will ensure that buyers are aware of the important coverage they are entitled to at the time of sale.
3. E-Learning Modules
Last, but certainly not least, we’ve launched a series of interactive online learning modules. These modules will let you drill down on a specific stage in the new home buying journey or aspect of the new home warranty. There are currently seven modules available:
• Before You Buy
• Making the Purchase: Freehold Homes
• Making the Purchase: Condominium Units
• Your Pre-Delivery Inspection
• After You Move In
• Submitting a Claim
Whether you are thinking of buying a new home or have already moved in, there’s an e-learning module that will guide you through what you need to know to make informed decisions.
And because they offer you the flexibility to learn as much as you want when you want, the online learning modules are an excellent way for you to get the right warranty information when you need it.
You can find the e-learning modules in our Learning Hub.