Buyers are protected in numerous ways

If you are new condominium shopping in Ontario, congratulations – and rest assured that you will enjoy ownership of one of the finest residences in the world when it comes to design, quality and service. There are many programs in place to ensure top quality and protect your rights.
The following are just a few.

Ontario Building Code (OBC) – one of the best things about buying a new home or condominium in Ontario is knowing that you are receiving the latest and greatest in quality and craftsmanship as required by governmental regulations. OBC is also amended every few years to keep up with advancements and improvements in technology, materials and construction techniques. There are building code exams registered practitioners must pass, as well as specifications on elements such as accessibility requirements. Updates to code are posted online. Learn more at https://www.ontario.ca/page/ontarios-building-code

Tarion Warranty Corporation – another great thing about purchasing new is being protected by this warranty, which administers the Ontario New Home Warranties Plan Act passed in 1976. This warranty includes protection for deposits, against financial loss for contract homes and against unauthorized substitutions; compensation for delays in closing or occupancy; one- and two-year warranties for certain defects in work and materials; a seven-year warranty for major structural defects; and coverage for condominium common elements. Each year, thousands of vendors and builders, as well as new homes and condos are enrolled in the program. Last year, Tarion underwent changes to strengthen the program by requiring even more transparency. For more information, visit www.tarion.com

CHBA, OHBA, BILD – the Canadian, Ontario and GTA new home builders’ associations (www.bildgta.ca, www.ohba.ca, www.chba.ca) represent the voice of the residential construction industry on local, provincial and national levels. These organizations work hard to maintain a strong, positive role for our housing industry and to ensure that the interests of homeowners and home buyers are understood and respected by all levels of government.

LPAT – anyone in Ontario who has an unsettled issue with a builder or developer can turn to the Local Planning Appeal Tribunal (LPAT) to plead their case. This might include disputes over development charges or other municipal governance, heritage conservation, land use, minor variances, the height of proposed condo towers, etc. This tribunal is part of the Environment and Land Division of Tribunals Ontario, which was established on January 1, 2019 and reports to the Ministry of the Attorney General. LPAT is yet another example of the ongoing work the government and the new home industry engage in to ensure best practices are in place for home buyers. The Ontario Government’s website https://elto.gov.on.ca/tribunals/lpat/about-lpat contains extensive information on the process.

These are just some of the programs new condo buyers should be aware of. An educated buyer will always feel more confident with the decision to buy new. Considering how much condos have increased in value over the last few years, my other advice is to BUY NOW, while we still have incredibly low mortgage interest rates!