Often after a sale my clients have contacted me to tell me something has broke in their new home and they have thanked me for encouraging them to buy a home warranty or insisting that the seller give a credit during negotiations towards the purchase. While it is not always possible to predict if a heater will stop functioning it has always been my experience that something will go. It is not because you purchased a lemon, it just that you a bought a home. Even if the previous home owner was fastidious which they are usually not it is best to provide yourself with protection until you have set up your own schedule for maintenance.
When your offer is accepted you should always do an inspection even if you have waived the option this way you know what you are getting. These are not always foolproof and sometimes the inspectors fears are unfounded. But at least you know what to expect and they teach you how and what to look for after you have bought a home.
My own personal experience was probably the best teaching experience a Realtor could receive. I was downsizing and buying in 2007 with very little on the market at the time in my price range. I found a cute little home that had the older kitchen and bath rooms and I thought "Great now I can do it the way I want”. The problem with older homes is that they are old, and anything that could go wrong did in this particular home. I had no one to complain to but myself and it was a little over the top. My first month there we had an incredible rain storm and my basement flooded and to my dismay I had a foundation leak. Fortunately my home owners insurance covered that one. Next my Air Conditioner went and the home warranty did not cover that because my lines were below ground, chalk that up to an expensive learning experience. One day after a long day of showing houses I came home to another wet basement, my water heater was gushing like a volcano!! Then the shower pan went in the master bath which I planning on redoing, now just a little earlier than planned. As the year continued I had various clogged pipes and leaks in the basement and I was starting to know the people at the home warranty call center by first name. The last claim was a winner when my garage door opener started to spew smoke. Needless to say the home warranty company kicked me out when it was time to renew. Don't worry I found another and yes I did have a home inspection