Moving into a new home is an exciting time, you’ve unpacked everything and now its time to start decorating and designing your living space. Most people start with the basement but there is a great reason why its best to put your basement renovations on hold for at least a year after moving in. Almost all new homes in Ontario come with a new home warranty that last for seven years. The warranty coverage for the first year protects against defects in work and materials.
Renovations can risk voiding the warranty on certain elements in the basement which is why is best to hold those basement renovations when you move into a new house. If there are any issues in the basement, builder repairers may require moving dry wall and any other obstructions. Once repaired, the builder is not replacing for replacing any work and material you supplied when finishing your basement this would include all the renovations that you have done.
If you feel like you can not wait to renovate your basement then work in stages, after each warranty has expired, this would include the 1-year, 2-year and 7-year warranty. You can start working on the areas that the warranty has expired. Make sure to hire a professional and go through the warranty with them as well they can do the job with the least impact on the builder’s materials and will be able to offer you warranty as well on their work.Its crucial to remember that the new home warranty only covers the work and materials that the builder has provided.
You can find more information about this with us at LML Mortgages Group