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Home Warranty

By
Real Estate Broker/Owner with MBA Broker Consultants CalBRE Broker #00983670

“It’s better to have it and not need it, than to need it, but not have it.”  Your home warranty is like an insurance policy.  The home warranty company will send a repairman to fix things when they break, so you do not have to pay out of pocket with a lot of cash.  A home warranty will keep unexpected bills low, and help keep your monthly expenses predictable and manageable.

Just remember Murphy’s Law:  If you have the home warranty, you probably will not need it, but if you do not have a home warranty, that is when something will break!

Read your home warranty

If you followed our recommendation, you received a free home warranty at the close of escrow courtesy of the seller.  Be sure to read the policy thoroughly.  It covers most things, but not everything.

You can continue renewing the policy each year if you like the service.  Since it is a 1 year policy, plan to pay for the next year’s policy before it expires.

Put the phone number to the warranty company on the fridge

Keep your policy information and phone number handy by sticking it to the side of your refrigerator.  “Who you gonna call?” they say in the movies.  One call to your home warranty company does it all.  They already have a rolodex of screened, licensed contractors who are ready to fix your leaky pipe or the refrigerator that just stopped working.

Remember there is a small co-payment

Home warranty co-payments range may be approximately $60 for a service call.  That is much more affordable than coughing up $3,000 for a new furnace in the middle of a cold winter, isn’t it?

Read more in our book, "Buy Your First Home", http://tinyurl.com/dy2wjx4.

 

Image courtesy of vectorolie at FreeDigitalPhotos.net

 

Posted by

Regina P. Brown
Broker, Realtor®, M.B.A., e-Pro, GREEN
California DRE # 00983670
www.CalCoastCountry.com

                

Text copyright © 2011-2018 R.P. Brown, All Rights Reserved

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Comments (6)

Kane k

Well said! Home warranty is a must buy if your appliances are 4+ years old. It helps save a lot of money on unexpected repairs and replacements. That said, it has to be stressed that purchasing one requires some background research. I recommend that potential customers visit home warranty review and rating website to find out about top 10 warranty providers and purchase a plan with them to ensure that good quality services are received.

Feb 15, 2015 12:50 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good information for home buyers. Thank you for sharing.

Feb 16, 2015 01:16 AM
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Good tip, especially for first time home buyers, do your research and read the fine print.

Feb 17, 2015 05:20 AM
Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

AR friends, thank you for dropping by and leaving a comment.

Feb 19, 2015 11:16 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I agree with Kane. We should research the ccompanies. I had a warranty with  a company that went out of business last year.

Feb 20, 2015 09:46 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

It is not the question if one needs a home warranty or not, but who to hire.

Which do you recommend?

Jun 15, 2015 07:19 AM