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Benefits of Purchasing a Home Warranty

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Image Credit: Mark Moz

Whether you are a home buyer or a home seller purchasing a home warranty is worthy. Home warranty is not mandatory but whether it is mandatory or not I believe that it is a good choice to have it for your home protection. If you are selling your home, and have a home warranty you can sell your home at a good price because your home’s major components and major appliances are being protected and therefore are in good condition.  As a home buyer, purchasing a home is one of the greatest investments you’ll make in your life. As I have said since it is the greatest investment you’re going to make in your life. It is better for you protect it by purchasing a home warranty.

What is a home warranty?

A home warranty as defined in Investopedia is a contract between a homeowner and a home warranty company that provides for discounted repair and replacement service on a home’s major components, such as the furnace, air conditioning, plumbing and electrical system. A home warranty may also cover major appliances such as washers and dryers, refrigerators and swimming pools. Most plans have a basic component that provides all homeowners who purchase a policy with certain coverages. Homeowners can also purchase one or more optional components that provide additional coverage at additional cost.

Benefits of a home warranty for sellers

  • Make your home a favoured home you won’t need for a certain repairs for your major components and appliances because it’s been protected by a home insurance.
  •  Entice more first-time home buyers first time home buyers will have a peace of mind because they do not have to worry for the cost of repairs for your systems and appliances
  • Leverage your home warranty this will create a good impact to your home and will help you stand out from other listings.

Benefits of home warranty for buyers and current home owners

  • Save money and safeguard your budget. Instead of paying for repair or replace an appliance or home system, you’ll pay a standard deductible per service call, per trade, on covered components.
  • Reliable service – Now you don’t have to worry to look or call for a town service or estimate. You can just contact your home warranty and inform them that they need to come to check your appliances. The convenience that a home warranty can give you saves lots of your time and money.
  • Comprehensive protection for years to come when you purchase a home warranty you’ll never have to worry and can have a peace of mind. You’ll have an excellent protection for your systems and or appliances plus you can renew your home warranty year after year.
  • Limitless service once you purchased for a home warranty you can call home warranty for as many appliance and system repairs as needed.

 

Credits to:

 Investopedia http://www.investopedia.com/articles/mortgages-real-estate/11/home-warranty-worth-it.asp#ixzz473bNaXMJ

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