buyers
Why Home Buyers Should Insist on a Home Warranty
If you’re buying a home, you’re taking on a big investment and a big expense. Most of us try to buy as much home as we can afford, possibly leaving us with little leftover cash for a while. If an appliance or major system in the home has a problem that we didn’t foresee, it can get very expensive. For this reason, many homebuyers look to new construction so that all the appliances and systems are new and under warranty.
However, it’s not necessary to avoid buying older homes. And, in today’s market, it’s easy to get a great deal on an older home. And, if you get a home warranty that covers the home’s major systems and appliances, you don’t have to worry that you’ll have to pay for a major repair in your new home.
Home warranties can be written to cover plumbing, heating and cooling systems, some structural systems like roofs and your major appliances, like the range. Home warranties can be constructed in many different ways to fit your specific needs. You can get the home warranty for the first year, and then renew at the end of the first year if you choose.
Home warranties are not expensive, but as a home buyer, you shouldn’t worry about paying for it at all. Rather, you should request it from your seller when you are negotiating the contract. In today’s market, sellers expect such a request, and are usually more than happy to provide a home warranty as an incentive to get buyers to consider their home for purchase. And, since they are not expensive, sellers are usually willing to allow you to choose the warranty, up to a certain dollar amount, and have them pay for it at closing.
You may even find that some home sellers are offering a home warranty as part of the sale of their home. However, if they are not, you should ask for it when you make an offer.
A home warranty can provide you peace of mind about the major systems you’re purchasing in your new home. With most home warranties, you call one number for any problem that you have and they find the right professional to complete the repair. Some even offer a toll free number that is open seven days a week. So, don’t forget older homes when you’re house hunting, and when you find the right home, don’t forget the home warranty.…
Purchasing a Home Warranty – Important Things to Remember For Home Buyers
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 …