Purchasing a home is a very important investment especially for first-time home buyers who are new in the real estate industry. Making sure that you undergo legal and proper processes in buying your house is essentially important. One of the vital components you need to consider during home purchase is securing a home warranty. Home sellers and home buyers alike need to learn and understand the mechanics of home warranty in order to get the most out of it for their advantage.
What is home warranty?
It provides protection for new home owners against any maintenance or repair problems which may occur during the first year of occupancy. It is quite a nightmare for home owners to realize that even if they have just moved in, they are already dealing with various breaks or malfunctions in their new home. Repairs and fixtures certainly cover myriads of systems and items in the house, therefore to have a total peace of mind and worry-free living, it is a sound idea to invest on home warranty. This is an important notion to consider especially for first-time home buyers who basically do not have any home maintenance experience.
How much is it?
When purchasing home warranty, you need to prepare approximately $250 to $400 depending on your preferred coverage. Most companies offer home warranty with special discount rates and policies. The policy may expire or can be renewed since it is paid in advance for one year.
In buying a home warranty, make sure that you have substantial knowledge about it since most home warranties are mistaken with home insurance. Home warranty covers house repairs and replacements of appliances which are not functioning like refrigerator, stove and air conditioning among others. It also deals with roofing or plumbing issues inside the house. Home insurance on the other hand deals with protecting your house from fire or theft and is also liable for injuries incurred in your property or by a member of your family.
How does it work?
Here are some of the things you benefit from for purchasing one.
o Any home system or appliance that breaks or malfunctions are taken cared by the company.
o Home warranty company calls a qualified service provider to cater to the problem covered by the policy.
o The service provider fixes the problem of the policy owner and if an appliance seized to work or functions and is beyond repair, the company pays for the replacement and installation of the appliance. It is important to note that replacement of appliances depends on the policy bought by the home owner.
It is an indispensable tool you can always access especially during hassles inside the house. It is important to ensure that your home systems are functioning well in order to conveniently do your daily chores and activities in the house without worries and delay. With the right warranty company to provide you with your personal and distinct needs, you are sure that you are protected from the maintenance anxieties and financial losses due to your house repair and appliance malfunctions.