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Should You Consider Getting a Home Warranty?

Jul 11, 2023 (0) comment

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Are you nervous about buying? Worried about any and all repairs being your responsibility? It’s not as bad as you think. If you implemented some of the tips I’ve been sending out, you should have budgeted correctly and built out your reserve account. That is those rainy-day funds so that you will be prepared for unexpected costly repairs that come along with owning a home. But who wants to spend their reserves though, right? Well, have you ever heard of or considered getting a home warranty when you purchase your home? You make sure you get a Car Warranty. You get a warranty on your smartphone or android, don’t you in case it gets damaged. So, why not get a Warranty on your home?

What is a Home Warranty?
A home warranty is a policy a homeowner pays for that covers the cost of repairing many home appliances if they break down. Home warranties provide financial protection from a service provider for homeowners who might be faced with unexpected problems with their appliances. Many homebuyers purchase a one-year home warranty plan right when they close on a home, since such protections can provide some much-needed peace of mind that you won’t get hit with unexpected, out-of-pocket expenses soon after moving in. Home Warranties can be very inexpensive, close to as low as $30 a month. That is about the same amount you were paying for renters’ insurance. 

What do basic home warranties cover?

  • Basic home systems such as plumbing and electrical
  • Heating and cooling systems, including the water heater.
  • Appliances such as the washer and dryer
  • Kitchen appliances such as the oven, range, built-in microwave, and garbage disposal

****Can you add on coverage for the swimming pool, external wells and various appliances? Of course, you can! The home warranty offered at the time of the real estate transaction typically offers the most comprehensive coverage and price points, so that’s why it’s the ideal time to lock it in.Β 

Many Buyers and Sellers negotiate a Home Warranty in their offer at the time of contract. The seller does have to agree to cover the expense of the policy however if they do not, you, the buyer, can always purchase one for yourself, OR if you are in a competitive situation, why not throw in a home warranty up to $X.xx for the seller on their next home. This could definitely put eyes on your offer a little more closely. Be sure to talk with your real estate agent first as they will be the ones to draw up the request.

Presenting Customized Mortgage Solutions with Competitive Rates. I have been in the mortgage industry for over 17 years. Through my career I have perfected all aspects of the process including but not limited to processing, underwriting, and closing of residential loans. I am a performance-driven person. My team and I pride ourselves on transparency and communication throughout the process to all parties involved. We close on time and create raving fans one loan at a time through consistent A Class Customer Service and stress free experiences. Let me create a raving fan of you. Call me today and work with a true professional and my team of professionals dedicated on making the home buying experience an exciting and pleasurable one for everyone.

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