The Pros of Home Warranties

So many of my clients have a hard time deciding on whether or not they should buy a home warranty. I am a big supporter of home warranties. Being a homeowner is both rewarding and at times expensive. Warranties are a good way to make those unexpected expenses much less painful!

What is a home warranty?
A home warranty is a one year residential service contract that provides repair or replacement coverage for the major operating systems and appliances in a home that fail due to normal wear and tear.

Home Buyers’ Benefits
*Move in with assurance knowing your home is covered.
*You are covered for unexpected home repair or replacement costs on many of your home’s major systems and appliances.
*Coverage is regardless of the appliances’ age, make or model.
*If it can’t be fixed, it will be replaced.
*It only takes a phone call and a small service fee to fix the problem.
*Service is available 24 hours a day, 365 days a year.
*You’ll have budget protection knowing you only have to pay a nominal service fee per trade call.

Home Sellers’ Benefits
*Sell with confidence.
*Having a home warranty as an additional feature will give you a competitive edge over other homes on the market.
*Buyers have more confidence in your home and there is usually less negotiating in getting closer to your asking price.
*If something breaks after the sale, there is limited liability for you. Buyers will contact the warranty company rather than calling you.
*Protect your budget, one major breakdown before or during the sale of your home can be very costly and delay things.

One of the few times a home warranty may be unnecessary is if you have bought a new home. A new home will be under the builder's warranty and all of the appliances should have the manufacturer's warranty for at least the first year. A warranty is essential when you appliances hit the eight year mark.

If you have any questions about this post or want to continue this discussion beyond the customary comment, email me at lizgermanos@yahoo.com. If you are interested in real estate in Hampton Roads and need an agent to guide, please feel free to also email me.