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 21, 2019
Four helpful tips when buying a resale home
If buying a newly built house or condo is not your first choice, you may be considering a resale home. The good news is, even if you’re not the first owner, that home may still come with warranty coverage.
The statutory warranty for a new home lasts for seven years from the date the original buyer took ownership – or in the case of a condominium unit, took occupancy. So, if you’ve recently bought a home that is less than seven years old, there’s a chance it has warranty coverage remaining.
We want to make sure you get the full benefit of the remaining warranty, so here are four helpful tips you should know to get the ball rolling on your new home journey.
1. Enrolment of the home
If a home is new that doesn’t necessarily mean it qualifies for warranty coverage. There are certain types of homes that aren’t covered – such as renovated homes, owner-built homes and seasonal homes. If you’re interested in reading the full list of the types of homes that don’t have statutory warranty coverage, you can check it out here. To learn whether your home is enrolled in the warranty program, use the Ontario Builder Directory or contact Tarion.
2. Proof of ownership changes
You’ve confirmed that your home is enrolled? Great! Now, your next step is to notify Tarion of the change in ownership. New homeowners are required to provide proof of ownership with a copy of the completed Agreement of Purchase and Sale, transfer deed and statement of adjustments. Once that has been finalized, owners will then have access to information about the home and its warranty.
3. Find out who is the builder of the home
Determine who built your new home and, once you do, keep their contact information on hand in case you require service or have inquiries. You can locate this information in the Ontario Builder Directory. So, connect with your builder if you notice any issues with an item in your home that is still covered under the warranty.
4. Learn more about your warranty
There are different warranty forms and deadlines that you need to be aware of in order to make use of the coverage you are entitled to. Discover what warranty coverage still applies and how you can submit a claim. Tarion has a great variety of useful resources to help you be better informed about your warranty.
And remember, we’re here to help! Contact us if you have questions or concerns about your new home and its warranty or visit Tarion.com for more information.