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Home Contractors

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 maintenance anxieties and financial losses due to your house repair and appliance malfunctions.…

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Basement Remodeling

Home Warranty Plans For Home Sellers

The uncertainty of purchasing a home that isn’t new can be a bit unsettling. Is everything working? Will it all keep working? Even with a thorough home inspection, you don’t know how long the appliances or systems will last. More and more home sellers are turning to home warranty plans to persuade buyers to buy, and this is why:
To Avoid Disputes
Once in a while, after the sale of a home from seller to buyer, something will break soon after. This may or may not be the fault of the seller, but often times, the buyer assumes it is. It then turns into a dispute over who has to pay for it. Purchasing a warranty plan helps avoid this because the plan covers the costs of most repairs and replacements.
To Reassure Buyers
Buyers don’t know if they can trust the seller. They don’t know the history of the home or what’s inside it. Home inspections can help with this, but there’s still the uncertainty of how long everything is going to last and if the buyer will be able to afford the cost of maintenance for the home-which can be expensive. Warranty plans can resolve all of this and give the buyer peace of mind, knowing they’re covered in the event of maintenance problems.
To Protect the Seller
It’s not too common, but sometimes things break during the listing and escrow period. Then what? The seller then has unexpected and unwanted extra costs-on top of the costs of selling a home. It’s an unnecessary stress that can easily be avoided by getting a warranty plan. Do yourself a favor.
To Give Buyers Confidence in Buying a Previously Owned Home
When buying a new home, everything is new, and buyers aren’t so worried about breakdowns and maintenance. This is an extra appeal for new homes. But what about homes that aren’t new? For a seller with a previously owned home, you want to give buyers every added confidence you can give them that your home is the right home for them. Home warranty plans are the way to do that. That way, buyers can trust that even if something does break, it will be okay. Home warranty plans are a great option for sellers and buyers.…

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Renovation Contractor

How to Negotiate With Home Warranty Companies

After you have purchased a home warranty, at some point in the future, there is no doubt that you will file a claim with the company in question. Negotiating with the different companies can be a hassle, but most of the reputable ones will deal with you professionally, but the outcome concerning your claim may not make you happy. What I am talking about here is claim denial and this is where I am going to give you a few pointers.
One thing that you should remember is that any type of insurance company has to deal with a great deal of fraud, so they have many protections put in place to roadblock fraudulent claims or frivolous complaints. But these policies sometimes frustrate homeowners with legitimate claims.
Here is the first thing that you should remember.
When you call in to report your claim, you must remember that the person that you are talking to is just doing their job. You should make sure not to exaggerate your situation or have an unnecessary attitude with the representative. You will catch more flies with honey. Always remember that.
After you have calmly reported your claim, you need to consider the fine print on your policy. If your problem is due to neglect or improper installation, you may just be out of luck, but if you feel like your claim is legitimate and you feel like you are being dealt with unfairly or in an unprofessional manner, then you have another option that many people don’t think about.
If you purchased your home warranty at the closing of your new home, then you probably bought it from your real estate agent. And chances are, he or she has made a commission off of its sale. And that means that the real estate agent has a relationship with the company and you can use this to your advantage. Call them up and see if they can offer you some assistance. Mostly likely they will be a little reluctant but willing.…

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Home Improvement Contractors

How Do I Benefit From Home Warranty Plan?

What is a home warranty plan?
Where to start from is to know what a home warranty plan is; this will help you to determine the necessity of it. A home warranty plan is a service contract made by the warranty company or an insurance company to fix any home appliance default irrespective of the age of the appliances. This contract offers protection through repairs or replacement of the appliance.
Benefits of home warranty policy:
Adequate coverage:
Most times covers essential appliances in a home, leaving the less important ones. This coverage actually prevents any home owner to fall short during emergency default of those appliances. You are basically secure that the company will definitely cater for the repairs and sometimes the replacement of the appliance irrespective of the age of the appliance.
Availability of technical aid:
If any of your appliances is having problem, you don’t have to have your mind bog about who to call, the company has many technical providers that can handle and repair your appliances without you losing your sleep.
It improves the sale value of the house: if you are desirous to sell your home, having a home warranty will do a lot to boost the value of your home. Buyer tends to respond better to this better than if the home is not on warranties.
Your home appliances are protected:
Having the assurance that when you run into trouble with your home appliances in an odd period of the month, you don’t have to seek an emergency loan is a solace to all homeowners having this policy. The company will assist in the repair and probably the replacement of such appliances.
Who pays for the plan?
This varies from locality to another. Any party can pay, that is, either the buyer or the seller or even both. However it would be advantageous for the seller to pay for the plan to prevent the buyer’s constant call to the seller to fix one thing or the other. For then, the company will take full responsibility of repairing any appliances required by the buyer after the closing. Both parties can cut a percentage of the cost of a home warranty.
Who pays for the plan?
This varies from locality to another. Any party can pay, that is, either the buyer or the seller or even both. However it would be advantageous for the seller to pay for the plan to prevent the buyer’s constant call for the seller to fix one thing or the other. For then, the company will take full responsibility of any repairs required by the buyer after the closing. Both parties can cut a percentage of the cost of a home warranty.
The cost of the plan:
Home warranty plan could cost less than $500 per year but they have to be paid in advance and they are renewable after a year. Some warranty companies inspect the property ahead of time to determine what exactly to charge for the coverage.…

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Remodel Kitchen

Tarion New Home Warranty – Do I Need an Inspection?

Every new home in Ontario is protected by a mandatory Warranty that is provided by the Builder and guaranteed by the Tarion Home Warranty Programme. The Warranty covers deposit insurance, protection against defects in work and materials, unauthorized substitutions, delayed closings or delayed occupancy. The most common claims relate to defects in work and materials, which require homeowners to submit a list of deficiencies at 30 day and one-year deadlines.
While Builders provide a pre-delivery inspection (PDI) for buyers just before closing, these are more related to cosmetic issues such as whether the chosen flooring, cabinets, countertops, etc. are installed. Although the PDI serves a purpose it really does not cover all the systems of the house.
While a typical PDI is basically a walk through inspection and generally takes about one hour, an independent thorough inspection should take about three hours and should include such items as foundation, roofing, grading, structure, insulation, plumbing, heating and ventilation.
While most people think that buying a new house will mean everything will be perfect, it’s not uncommon to find missing insulation in the attic, poor ventilation systems or even structural issues. An example of this may be something as simple as a bathroom fan venting into the attic. This can cause serious damage when moist air meets the cold attic. If caught quickly little damage will result but a year down the road, mould, mildew and even rot may be visible on the attic sheathing and rafters.
Although buyers may believe that the Builder and the City Inspectors will have thoroughly inspected everything, this is rarely the case. The problem generally stems from the fact that there are many tradesmen following each other during construction, each with a very tight schedule. On a large site with multiple trades and many house designs in different stages of construction it’s not unusual for some things to get moved or damaged or just plain forgotten.
The average home owner can not be expected to be familiar with the complex systems of a home.
A professional Home Inspection by a Registered Home Inspector (RHI) is your best defence when it comes to protecting your investment and receiving the full benefit of the New Home Warranty program.
When choosing an inspector, those with RHI designation have extensive training and are required to conform to a strict Code of Ethics and the Standards of Practice as set out by the Ontario Association of Home Inspectors.…

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Kitchen Remodel

Home Warranty Programs – Home Appliance Insurance That Meets Your Needs

When looking for a good home warranty program, which benefits and details are important to you? One of the first things that many people think about is how much the premium will be. Although this is very important, you should be careful to make sure that you are considering all of your options. I have held home appliance insurance for many years now and hopefully I will be able to give you a few pointers on choosing the best one for you.
The first thing that you should consider is how much coverage you need. The basic question that you need to ask yourself is how much risk you are willing to take. If you have a brand new home, you are probably willing to take a lot more risk than someone living in a 25 year old house with an aging heat pump or furnace. The level risk that you feel comfortable with is the basis for deciding on any insurance policy.
For example, if you feel comfortable with fixing small things around the house like leaky faucets or even a broken garbage disposal, then you would probably feel okay with having a policy that does not include small appliances and the like. But many homeowners want the peace of mind knowing that they don’t have to worry about how and when their appliances will get repaired if they have a breakdown.
Another thing to consider is the cost of a repair of a particular appliance. Many of the insurance policies will cover small things like microwaves. If you have a small stand alone microwave, then the replacement cost will be very minimal these days. But on the other hand if you have a built in microwave that functions as a ventilation hood and lighting for your cook top, then the replacement costs could be substantial.
Believe it or not, there are so many appliances and systems in your home that you can repair or replace yourself with very little know how. If I have a problem with something, I always Google it to see if I can fix it myself. Many of the mega home improvement warehouses are also a wealth of knowledge for the do it yourself repair person.
Here is the main reason why people feel that they need to buy a home warranty; the fear of having to replace or repair their HVAC system. Replacement of your heat pump or air conditioner could cost several thousand dollars. The risk of having this type of failure is more than people want to deal with. That is where these types of home warranty programs offer peace of mind and will serve you well.…