I think the first question a new home owner should ask -What is a home warranty?
A home warranty is typically a one-year service contract designed to protect the family budget from unexpected, costly repairs on home systems and appliances.
What is covered in the plans?
There are several plans and options to choose from to best suit the home's specific requirements. Basic plans typically include coverage for: kitchen appliances, water heaters, plumbing, plumbing stoppages, electrical, heating system, ductwork, instant hot water dispenser, whirlpool bath motor and pump assemblies and more. Optional covered items can range from pool/spa equipment, washer/dryer, kitchen refrigerator, air conditioning, well pump and more. Plans and optional covered items vary in geographic areas.
What is the cost?
The contract annual cost can range from $350 to $550 and this cost is normally paid by the Seller at closing. In the event there is a repair needed the home owner will need to call the home warranty company and they will send out a local service technician. Most warranties have a minimum service charge of $60.00. At the end of the first year the home owner will have the option to renew at their expense.
Who are the Companies?
There are many home warranty companies in Central Ohio that Realtors can refer. I refer First American Home Buyer Protection because they have a good service record, as to, sending out repairman quickly and standing behind their warranty. As broker I strongly recommend my home buyer clients to have one because stuff brakes, even new stuff, and it’s great to have that warranty just in case. https://homewarranty.firstam.com/
Susan Buhr, Owner and Broker
PDS Real Estate
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