“Should I get a home warranty?”
We thought you’d never ask.
There are many advantages to home warranty protection. This policy often protects the Seller by reducing repairs costs required as part of the sale, It protects the Buyer by paying for certain repairs and costs of major mechanical systems and appliances in the home such as heating and air conditioning systems. Often before closing on a house, the issue of a home warranty comes up. The new home buyer has fears and rightfully so. This is why home warranty protection is offered, to ease the mind. The last thing anyone wants after a major purchase is to acquire another large bill for repairs unexpectedly. Here are basic elements to keep in mind when you ask yourself, “Should I get a home warranty?”
Benefits of Home Warranty Coverage to the Seller
- Home may sell faster and at a higher price,
- Optional coverage during the listing period of the home for sale,
- Protection from legal disputes that occur after the sale,
- Increases the marketability of your home,
Benefits of Home Warranty Coverage to the Buyer
- Warranty coverage for major systems and built-in appliances.
- Protects cash-flow.
- Puts a complete network of qualified service technicians at your service.
- Low deductible for each occurrence saves more than cost of the policy over its life.
Check your home warranty policy to see which of the following items are covered:
- Electrical Systems
- Water Heater
- Heating Ducts
- Water Pump
- Swimming Pool (may be optional)
Also check to see if the policy covers the full replacement cost of an item. Keep in mind that there are a variety of plans available in the marketplace, so you can choose what makes you most comfortable.