New construction in Oakville

Ontario builders must enrol each new home with Tarion, whose warranty starts on the first possession date and covers different items for one, two or seven years. When you buy a resale within that window, the unexpired portion follows the house, so ask the seller for the certificate of completion and possession, any outstanding claims and the pre-delivery inspection. A purchase straight from the builder attracts HST; the figure quoted on the MLS® normally has the tax built in, with the federal and provincial rebates signed over to the builder provided the home becomes your or a family member's residence. Purchasers who intend to rent the home out usually fund those rebates at closing and recover them through a separate application later. Resales of lived-in houses, even ones only a few years old, generally carry no HST.

Builder agreements in North Oakville carry adjustments on closing that resale purchases do not: increases in development charges, boulevard trees, the driveway's asphalt, meter hookups, Tarion enrolment and a park levy, often capped in the agreement if your lawyer asks. Grading and sod may not be finished for a year, and the driveway may stay gravel until the builder's paving cycle. In new condominiums at the Uptown Core, budget for interim occupancy before the building registers and for the first-year budget correction. Also check what the subdivision agreement holds: the town has plans for the streets and schools in Glenorchy and Joshua Meadows that are still being built, and the boards reportedly assign students to holding schools until new ones open.