The Tarion New Home Warranty Program
The Tarion warranty is a protection plan for your new home. It ensures coverage for defects in workmanship and materials. It includes a one-year warranty for general issues, a two-year warranty for systems, and a seven-year warranty for major structural defects, providing peace of mind for homeowners.
When does your home’s Tarion warranty start?
Your warranty starts on the date you take possession of your new home am it indicated on the Certificate of Completion of Possession and Possession/Warranty Certificate as provided by ArchStone.
Details of the Tarion Warranty coverage
The coverage provides warranty on work and materials lasts for seven years from the date you take possession of your new home and provides up to a maximum of $300,000 in coverage.
The warranty is divided into three coverages as follows:
1 year
- Requires that your home be built properly and free from defects in materials
- Ensures your home is fit for habitation
- Protects against Ontario Building Code violations
2 years
- Protects against water penetration through the basement or foundation walls.
- Protects against defects in materials, including windows, doors and caulking, or defects in work that result in water penetration into the building envelope.
- Covers defects in work or materials in the electrical, plumbing, and heating delivery and distribution systems.
- Covers defects in work or materials that result in the detachment, displacement, or deterioration of exterior cladding (such as brick work, aluminum, or vinyl siding).
- Protects against Ontario Building Code violations that affect health and safety.
7 Years
- Defects in work or materials that affect a structural load- bearing element of the home, resulting in a structural failure, or that could materially and adversely compromise the home’s structural integrity
- Defects in work or materials that materially and adversely affect the use of a significant portion of the home.
Home Deposit Protection
The deposit you provide to ArchStone is protected up 10% of purchase price to a maximum of $100,000 if:
- Fundamental breaches of the purchase agreement.
- You exercise your right to terminate the agreement.
- Builder declares bankruptcy.
This protection includes the money you put down towards upgrades and other extras.
Delayed Closing Coverage
- ArchStone guarantees that your home will be ready for you to move into either by a date specified in the purchase agreement or by the date that has been properly extended if circumstances occur that delay the home’s completion, to which you and ArchStone have agreed upon.
- The Statement of Critical Dates in the Addendum to your agreement contains all the information about your closing date and any extensions that are applicable.
If your home’s closing or occupancy date is delayed beyond the allowable limits, you may be able to claim compensation of $150 per day up to a maximum of $7,500.
