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Why Buy a Home Warranty
Not to be confused with homeowner’s insurance, which covers the structure and contents of your Magnolia TX home, a warranty service contract is designed to cover systems and appliances that stop working due to normal usage. Basic coverage generally includes the repair and replacement of major appliances such as heating/cooling system, water heater, refrigerator, dishwasher, stove, etc. Plumbing and electrical systems are also usually covered, and some companies include washer, drier, microwave, and roof maintenance in the basic tier. Gaining in popularity with both buyers and sellersof Magnolia TX homes, warranty service contracts serve to reassure owners that they won’t face major repair/replacement costs. Sellers use them to protect the home while it’s on the market and as an incentive to attract buyers. Buyers rely on them to protect them from unexpected and expensive repairs. Even Freddie Mac will offer a $500 home warranty credit to home buyers who purchase a qualified, foreclosed single-family home, townhouse, or condominium through their HomeSteps® division. A warranty plan for your Magnolia TX home is fairly inexpensive, typically ranging from $250 to $400, depending on coverage. The policy is prepaid for a year in advance, at which time it expires or can be renewed. The usual procedure for service needs is as follows: ... more
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