(NC) When you buy a pre-construction house or condominium unit, you and your builder agree to a date by which you’ll be able to move in. For most homes, this date is referred to as the closing date. For others such as high-rise condominiums, it is known as the occupancy date.
Your closing or occupancy date may change for several reasons, including weather conditions during construction, the availability of tradespeople and materials, and financing.
Under Ontario’s new home warranty, your builder is allowed to extend your closing or occupancy date, provided they follow certain rules. The warranty also ensures that you are compensated if your builder does not provide enough advance notice or if they delay completion of your home beyond a certain date.
Construction delays can have a huge impact on your life. Here are four things you can do that will help to make the experience a lot less stressful:
Find more information at tarion.com
Gil Strachan is a professional home inspector, representing Electrospec Home Inspection Services in east-central Ontario since 1994.