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New Home Buyer Protection Act , introduced in the legislature Thursday, requires builders to provide warranty coverage for all new homes built in the province, starting in the fall of 2013.
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Under the legislation, all new homes would come with a minimum one-year warranty on labour and materials, two years of protection for plumbing and electrical systems, five years of protection from water damage, and 10 years of coverage for major structural components. New single-family houses, condominiums, modular homes, mobile homes and dwellings on recreational properties are covered.
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' a2 O& ?" q2 ?1 s. h* eThe warranty is expected to cost $1,700 to $2,000 on a typical home, in most cases less than one per cent of the selling price. |
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