Yes, There is warranty on your condo.

The Ontario New Home Warranty Program (ONHWP) provides protection for condominium buyers of newly constructed residential units. However, ONHWP does not apply currently to properties, which are renovated or built on existing foundations. There are two ways in which the ONHWP provides protection.

  1. It guarantees the buyer that any deposit or down payment made by the purchaser of a new condominium unit up to a maximum of $20,000 will be returned if the developer is unable to complete the transaction.
  2. It warranties construction of the units from the date of occupancy, and the common elements from the date of registration, for one year against most defects . . . for two years for the mechanical and electrical systems the building envelope and water penetration . . . and for seven years against major structural defects.

In addition, there is a warranty for substitutions of key elements in the unit made by the developer without the consent of the purchaser. For further information on what rights you have under the Warranty Program you can contact them at (416) 229-9200 or www.tarion.com