Why Should I Have a Home Warranty?
The home you want to buy is 20 years old. After reviewing the property disclosure (filled out by the seller) and having your own home inspection, you are concerned about the age of the itchen appliances and some of the mechanicals. What is the life expectancy of a refrigerator or a hot water heater? That could certainly influence your decision about asking the seller to provide a home warranty.
Based on normal wear and tear, the International Association of Ceritified Home Inspectors, here is a life expectancy list for the most commonly replaced or repaired items. For a complete list, please visit their website.
| Dishwasher | 9 years |
| Gas Oven | 10-18 years |
| Microwave Oven | 9 years |
| Range/Oven Hood | 14 years |
| Electric Range | 13-15 years |
| Gas Range | 15-17 years |
| Refrigerator | 9-13 years |
| Washing Machine | 5-15 years |
| Clothes Dryer | 13 years |
| Central Air Conditioning | 7-15 years |
| Furnace | 15-25 years |
| Water Heater | 6-12 years |
What does a home warranty cover? Each Home Warranty company offers its own product. Coverage and prices vary. Generally speaking, standard coverage will cover the plumbing system, central heating system and other household systems, water heater, range/oven/cooktop and dishwasher.* You can purchase additional coverage for air conditioning, refrigerators, clothes washer and dryer.*
What if you are the seller? Do you want to offer a Home Warranty to the potential buyer before they even ask for it? Why would you do that? As the seller, you can order the Home Warranty to cover your home during the listing period. Then when the sale closes, the Home Warranty transfers to the new homeowner. Meanwhile, during the listing, it covers you!
*This is a short list of those items covered. For a complete list check with a Home Warranty provider.
Image sourced from Microsoft Office clipart.
Why Should I Have a Home Warranty?
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