What You Need to Know About a Home Warranty
Whether you are buying or selling a home, a home warranty can make your real estate experience more secure. A home warranty is a product offered by independent home warranty companies who work with specific contractors to offer repairs for unforeseen expenses of home ownership. As the seller of a house, a home warranty can expedite the sale of your home, bring you closer to asking price, and prevent future repair costs. As a buyer, especially a home buyer with a limited or coveted emergency funds, who isn’t particularly handy, or a first time home buyer who is concerned about their investment, a home warranty can help cover the costs of home ownership, such as unforeseen breaks in major systems and appliances. A home warranty may cover things like heating and air conditioning units and water heaters. A home warranty company pre-selects qualified contractors, so you don’t have to do the legwork. When something breaks, you call your home warranty provider.
Information for Home Buyers
Buying a home can be a daunting experience. If you’ve owned a home before, you know what the potential is for unforeseen expenses. If this is your first time purchasing a house, you’re likely dipping into life-long savings and emptying your emergency fund to buy your dream home. Even the dreamiest of houses, old or new, have the potential for breakdowns. Hot water heaters, pool-pumps, furnaces, air conditioners, roofing, plumbing, electrical, and even some appliances can go haywire when you least expect.
If you’re not skilled, trained, or even a little bit handy with home fix-it and DIY projects, you need a plan and someone you can trust to call for repairs. No one wants to cancel the Saturday they’d planned for relaxing by the pool tied up in letting their fingers do the walking through the yellow pages (or search engines) for contractors to fix the pool pump.
Shopping for contractors to hire can be an intimidating process and a costly mistake if the contractor isn’t honest or experienced in their work. Having a home warranty takes the risk out of an emergency situation by allowing you to make one call to your home warranty company, and let them do the rest. Your home warranty company will send a contractor they trust to determine whether or not the item in question is covered by your home warranty. There may still be some cost to you on top of what you invest in your warranty and potential deductibles, but those costs can’t compare to what you’d pay out of pocket if your home were unprotected and faced an unplanned emergency.
Information for Home Sellers
As a seller, having a residential warranty can help eliminate customer complaints and costly, timely delays in the closing of the sale of your home. You’re ready to move on to your new residence without looking back! By having a home warranty in place and available to your potential buyers, faulty items discovered in home inspections or that break and need repairs shortly after the sale of your home, you can avoid added costs in time and money.
Offering the security of a home warranty will make potential buyers feel more comfortable with their investment, knowing you have their best interest, and yours, in mind. By providing a home warranty in the sale of your home, you’re providing a safety net for inexperienced homebuyers who may have concerns making such a large purchase. You can also avoid buyers’ remorse with a residential warranty included in your home’s contract.
A home warranty need not be offered by the seller in order for the buyer to take full advantage of the savings and comfort of security offered by home warranty companies.
Ask The Laura Castillo Group for more information about home warranty companies, what they offer, the costs involved, and how you can benefit from including a home warranty in the purchase of your home. Give them a call at 806-401-4217.