Quick answer
Tarion covers one year for defects in work and materials, two years for water penetration and major systems, and seven years for major structural defects on new Ontario homes. Budget separately for land transfer tax, legal fees, Tarion enrolment, utility hook-ups, levies and closing adjustments.
Coverage periods
Tarion provides one-year coverage for defects in work and materials, two-year coverage for water penetration and major systems, and seven-year coverage for major structural defects on new Ontario homes. It also covers deposit protection and compensation for unreasonable delays.
Closing costs to budget
Land transfer tax, legal fees and disbursements, the Tarion enrolment fee, utility connection and meter charges, development and education levies where not capped, HST adjustments, and prepaid property tax and interest adjustments.
The cap that matters
Confirming whether your agreement caps development charges is one of the largest controllable closing-cost variables on a new freehold home. Ask for the answer in writing before you sign.
Pricing referenced above is preliminary VIP pricing and subject to change without notice. We do not represent the builder. Register below for the official Lackner Ridge Townhomes price list and floor plans.
More in Smart Buyer Guides
Townhome vs Detached in Waterloo Region: Which Fits Your Budget?
An honest look at the trade-offs between a new townhome and a detached home across Kitchener-Waterloo.
Buying Pre-Construction in Kitchener: A Smart-Buyer Checklist
Deposits, cooling-off periods, Tarion and closing costs — the essentials before you sign on a new townhome.
Deposit Structures for Ontario Pre-Construction Homes, Explained
How staged deposits generally work in Ontario, what Tarion protects, and how to plan your cash flow.