Now that you have purchased your first home, let’s talk about home warranties and how they can help the home owner. First, you will need to consider this, no one expects things to go wrong with their new purchase, but many times things do go wrong. By purchasing a home warranty, you have some added peace of mind that your unexpected problems will have a quick, affordable solution. Sometimes home sellers or real estate agents will provide a home warranty for the new home owner.
If you think about it, even something as simple as a hot water heater can be an unexpected expense that can put you behind financially. Nowadays, a new hot water heater costs approximately $479 and up and that estimate does not include the price of installation. However, if you have purchased a home warranty, you would pay just a minimal amount in the range of $60 for a service call. At this time, your warranty would provide you with a service person that would repair or replace the water heater. When you use your warranty once, it pays for itself.
Most warranties cover your appliances, heating system, cooling system, duct work, water lines, electric wiring, small roof leaks, hot water heaters, and also a few other items. All of these items must be in good working order when you purchase your home. Usually your home inspection report will relay these systems were in good working order at the time of purchase.
Home warranties cover things that home insurance does not cover. Go online and Google “home warranty companies”, read what people have to say about each company. Try to be objective as you just cannot please some people, however if most agree the company is great—then go with it. You will feel more secure in your new home just knowing you are covered “just in case”. Home warranties are a matter of personal choice, be sure your choice is an informed one.