Home Warranty
Home Warranty Benefits
Home warranty policies are available to both homebuyers and sellers. What are the advantages of purchasing one?
As the buyer, a home warranty can save you money and offer you some budget protection, which gives you some peace of mind against unexpected repair bills. If the refrigerator stops working during a hot spell shortly after you move in, it will be fixed or replaced under the warranty at a fraction of the cost of buying a new refrigerator. If you are buying an older home, you might ask the seller to provide a one-year warranty as an incentive. The warranty will protect you from major expense if the plumbing suddenly fails or the roof starts leaking.
The benefits of a warranty include:
- Budget/cash flow protection on unexpected repairs
- Convenience of one call, one small service fee and prompt response
- Most major systems and appliances covered under the Standard Plan
- Provides added home protection from costly repairs or replacement
- Provides ongoing home protection – renewable year after year!
- Full replacement of covered items -generally if they can't fix it, it will be replaced.
As the seller of an older home, you can understand how the warranty can make your home more attractive if you put yourself in the buyer's shoes. The warranty relieves the buyer of concern that they will have to spend thousands to repair a major system that breaks down unexpectedly. Research from Home Warranty companies has shown that a warranty on a home tends to sell faster and at a closer to list price ratio. Warranty's usually offer a protection when your home is listed with a Realtor, with the premium not due until the closing of the house. The after sale worries are placed on the warranty company rather than the previous owner. If problems or repairs are needed after the closing, the warranty company will get the phone call.
I can arrange the placement of the reliable home warranty for your home with a number of companies. Two names that come to mind are:
