Finding the perfect home comes with decisions to make. It is time to think about a home warranty and if it is right for you. A home warranty protects you against expensive repairs.
Home warranties vary per company, but most cover appliances, HVAC, hot water heaters, ductwork, electrical systems and some plumbing. A lot of companies allow you to pick and choose what you want covered by adding or removing things from your coverage. Whatever company you go with, it is important to know exactly what you are getting.
The main question to ask yourself is whether the home is old or new. If you are getting a new home, it may already have a builder’s warranty built in. If it is not a new home, you need to weigh the pros and cons of getting a home warranty.
The cost of a home warranty can range anywhere from $250 to $400 depending on the company and the coverage. Who pays for it depends on what you ask for. You can ask for it to be paid for by the seller or you can pay for it at closing. Most are paid for 6 months or a year in advance.
Home warranties cover a variety of things. When something breaks the company will set up an appointment or give you contact information for the repairman to come out. Most companies have a specific set of repairmen they work with. The repairman will come out and verify if the repair will be covered and you will pay them a small fee, called a service fee. A repair can be denied for regular maintenance not being done or misuse. It is important to clarify everything with the home warranty company so you know what to expect and what is expected of you.
If you need help deciding if a home warranty is right for you, give me a call!