Whether you’re buying or selling a home, a home warranty should be on your “to do” list immediately. There are a number of reasons why new home buyers or current sellers should consider the various residential home warranty pricing and plans available to them today. With the motto of the Boy Scouts in mind, it is always good to be prepared.
New Buyers
One of the best pieces of advice experts give to new home buyers is to set up a budget as soon as you purchase a house. However, the problem so many people face is the unexpected problems that shoot the budget out of the water. They come home after work to find the dishwasher started this morning before leaving has broken and leaked all over the floor. Or, maybe it’s time to fix dinner and they open up the refrigerator to find it’s no longer cooling anything. These are problems that need immediate repair or replacement and can wreak havoc in a budget. If the homeowner had purchased a home warranty (and worked it into the budget) they’d be sitting in a much better position about now, as appliance repairs are covered under most plans. Another important thing is to use special warranty deed forms to confirm the seller transfers ownership of legal property.
Home Sellers
It’s a common, not to mention smart, practice for home sellers to purchase a year warranty to entice buyers to buy their home. Nothing provides peace of mind and assurance they’re purchasing a good home than knowing that if something does go wrong, it’s covered under the warranty plan. It’s just one more feature of the house that makes it stand out from the competition. It’s a very small investment in return for the sale of a $400k house.
So, you’ve decided that you definitely do need a home warranty plan, but the thought that comes to mind is which one should I get. A quality company will offer several options from which to choose and one should definitely fit in your budget. For the home seller, there’s a simple appliances warranty that you may want to consider that covers only the kitchen appliances. This is the bare minimum any homeowner or seller should consider. It will cover the dishwasher, microwave oven, refrigerator/freezer and ice maker, range and oven. And lets face it. These are the most common problems in a new home. But, there are other, more comprehensive plans that you may want to consider, too.
The middle of the road plan is likely to include all the appliances mentioned above, heating and cooling, plumbing and electrical. This is an amazing plan to subscribe to and will cover so much of the house. Lastly is the supreme package of them all and it will cover everything mentioned including the washing machine and dryer as well as the structure of the house. Yes, it’s the priciest of them all, but so worth it if you ever have a major incident occur.
Take a look at the options available and pick the one that best fits your budget. This will bring you the peace of mind you want and the assurance your home buyer needs.