When you purchase a resale home, it is wise to purchase a home warranty. You would like to think that nothing in the home will break, but just as soon as you say something like that – it happens. A home warranty is like an insurance policy that covers different types of household items and major appliances in case they break down in your home. Usually the built in appliances are the ones that are covered, but by paying a little extra you can add coverage for additional appliances like washing machines, dryers, swimming pools or jacuzzi’s.
When you purchase your resale home, a lot of times you are short on cash and you think you cannot purchase a home warranty. This is exactly why you do want to get a home warranty. If you are short on cash, it would be difficult to pay the service fee and the cost for the repair or replacement of an item. Having a home warranty, you would pay the fee for the service call on the items that are covered. There are times when a seller of a home will purchase the home warranty for the buyer. Having a home warranty on the home at the time of sale would actually be attractive to many buyers and you would not have to pay for the home warranty until close of escrow, thus keeping the seller from shelling out money.
Standard warranties usually cost about $350 - $450 per year (and then additional coverage/costs may apply). With the rising costs of service calls and appliance repair, it would be beneficial to buyers and sellers to purchase the home warranty.
Comments (1)Subscribe to CommentsComment