19 | O akville B eaver | T hursday,S eptem ber 9,2021 insidehalton.com OF THE WEEK Wilma Fournier, SaleS repreSentative Sutton Group Quantum realty 905-399-9544 Boats! shops! and automoBiles! 901-100 lakeshore rd, east $1,399,777 The ultimate Oakville destination. Prestigious-The Granary.The only condoon thewater in downtown Oakville. Rare corner unit ( almost 1800sq ft) 2 beds, 2 baths,2 balconies, 2 parking spots Amazing views of the harbour, and lake can be enjoyed whilst watching the fireworks from your privatebalcony.Large livingareawithcozyfireplace and lots of custom cabinetry. Modern kitchen with quartz counter tops. The Granary offers all amenities a luxury condo should have including a wonderful swimming pool and gym. Absolute prime location. Seconds walk todowntownOakville and harbour. Mins drive to QEW and Go station. This unit will sell very fast! Home Real Estate Advertorial Questions often asked by new condo buyers Purchasing a brand-new condo is an ex- citing time. But while you're getting ready to settle into your new home, there are likely a few questions you'll have along the way. Here are answers to a few of the most common ones: What is interim occupancy and how might it affect me? Although you may be able to take occu- pancy of your unit, you do not officially own it until the entire project is registered with the local municipality. Interim occupancy is the period between when you get the keys to your unit (when you move in) and when you can officially take title (when you own your property). During this time, you pay a monthly fee to your builder that covers three things: in- terest on the unpaid balance of your unit, estimated municipal taxes, and mainte- nance expenses. The interim occupancy comes to an end once the builder has completed the condominium building and the condo corporation is registered with the land registry office. It is at this time your builder will set your final closing date, when you take full ownership. How do I know my unit boundaries? When you purchase a condo, you are buy- ing a "unit" in a condominium project -- and knowing the difference between what you own and what you share is key to un- derstanding your personal responsibilities. To determine your unit boundaries, refer to the declaration for the condominium proj- ect, a document which you should have received when you bought your unit. The declaration will outline the boundaries be- tween your unit and the shared areas, or "common elements." How does the warranty work? For newly built condos, there is a builder- provided warranty on individual units and the common elements. Both warranties are divided into one-, two- and seven-year coverages, and they are backed by Tarion, the organization that administers Ontario's new home warranty program. Your unit warranty begins on the same day you take occupancy. You can make your first claim during the first 30 days of occupancy, and the easiest way to do so is by using the MyHome tool on the Tarion website. The warranty on common elements be- gins when the condominium project is reg- istered with the municipality. As the owner of the common elements, your condomin- ium corporation is responsible for making these types of claims, so be sure to bring any issues you notice outside your unit to their attention. (NC)