Читать книгу Buy & Sell Recreational Property in Canada - Geraldine Santiago - Страница 40

There are pros and cons to consider when deciding whether to buy a new recreational home or a resale. Buying a new recreational home means that you may be able to choose or upgrade the finishing materials, flooring, cabinets, and electrical features. As well, the building will comply with the latest building and electrical codes and energy-efficiency standards, which will result in lower maintenance costs.

But more important, recreational home-buyers may want the security of new-home warranty programs that are available in most provinces. Contact a new-home warranty office or visit its website for a list of registered builders in the area where you are considering purchasing. Although warranty coverage varies from one province to another, typically the programs guarantee labour and materials for your new home for at least one year after completion. The warranty also ensures that major structural defects will be corrected for a minimum of five years (and up to ten years in some provinces).

At present, warranties are required by law in Ontario, Quebec, and British Columbia, and are voluntary in most other provinces. In British Columbia, the law requires consumer coverage to be provided in the form of home warranty insurance, which is a bona fide insurance product that can only be sold by government-approved insurance companies.

Comprehensive warranties on newly built recreational homes are readily available and easily obtained. Even in provinces where the warranty is not mandatory, many lenders will not grant you a mortgage unless you obtain a warranty. Clearly, a warranty is a good thing to get, as it offers you peace of mind.