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Consider Home Warranty Before Closing Your House


Consider Home Warranty Before Closing Your House 

house in a floater
Closing on a home is one of the most exciting things you can accomplish in your life. With such a huge investment, home buyers should also consider protection. If you're a home buyer, before you close on the house of your dreams, consider buying a home warranty. The premium shouldn’t vary too much between the providers, because it is usually based on the type and size of house you bought. You can also request the seller to pay for your home warranty premium as one of your conditions in purchasing the home. Requesting the seller to provide a home warranty on the sales contract is quite a common and reasonable request, especially if you have sellers who sell their homes as is. You can view about the home warranty and how it effects a buyer and/ or seller on choicehomewarranty.org.

You can check with your realtor for recommendations on home warranty providers, but I listed below some of the reasons you might want to consider Choice Home Warranty. Perhaps the list can also be a guideline for when you need to hunt for a good home warranty provider.  From experience, I would not purchase a home warranty from a company that did not come by recommendation. As you can see below, one of Choice Home Warranty's differences is that that they deal with pre-screened, licensed, and insured local vendors. This is one of the most important aspects in a home warranty, because you want vendors that know their business and have impeccable experience. Imagine if the opposite was true, non reputable companies try to cut cost by hiring unlicensed vendors that do not know their business. These small time handyman/ vendor takes the service call, takes your deductible to tell you that you need repair. Wow, really?
24 hours

• Call center available 24 hours a day, 365 days a year.
• One modest trade service fee for repairs
• Budget protection on unexpected repair bills on covered items.*
• Repair, replacement, or cash payment on covered items.
• Pre-screened, licensed, and insured local vendors

Even if you had a home inspection, it’s not quite the same as living in the house and having to use the fixtures yourself. Expect the unexpected. You would be protected should something needs repair or breaks down a couple of months after you move in. The home warranty also protect your pocket book, all you need to pay is the minimum deductible (the deductible is usually much less than the home insurance policy).

And if you are the home seller, it is often a lot more enticing to a buyer if the home comes with a home warranty. There is the added security and comfort that you are relating to the buyers such are: 1) you care enough to purchased a home warranty, 2) that your house is free of any major issues, but if there were, the buyers are protected. The thought of being protected gives people the courage to move forward if there were any doubt at all.

Homeowner’s insurance rates have climbed 69% over the past decade to an average of $1,000 a year. Did you know the 16 costs of maintaining a home? Find out what they are here: http://www.choicehomewarranty.com/blog/home-cost-statistics/.  For more tips on maintaining your home, and home repairs check this link: http://www.facebook.com/choice.home.warranty for postings. Remember to click like if you enjoy reading their home maintenance tips.
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18 comments :

  1. Very good information. This happened to a friend of ours. They were so glad they had the warranty!

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    1. I love having the home warrantee when I bought my first home. It gave me so much confidence in going through with the owning process.

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  2. We didn't get a home warranty. Now you have me wondering just what the cost may have been.
    We've not had any major problems since buying but we have had the central air go out and 2 pipes break, and we had to replace the shower fixtures in the front bathroom.

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    Replies
    1. From the air and the pipes alone, I would think that the premium would have paid for itself already had you have the home warranty, you would only have to pay the deductible.

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  3. Yea, home warranty is a good idea and could save one a lot of problems. Great info, good post.

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    Replies
    1. Home warranty can be a saver on time as well because the provider will have had a list of selected vendors.

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  4. I'd have liked to have had a warranty on our house before we bought it. This is great advice.

    ReplyDelete
    Replies
    1. Sometimes it's a couple of times around before we realized what all is involved in home buying. Hopefully you can incorporate one into your next home or investment.

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  5. The home warranty saved us thousands! The first year we bought our current house, we had multiple contractors at our house for plumping, electrical, appliances, garage door more than just one time for each issue. Under this same warranty, we had a 50 gallon water tank replaced, a circuit board for the furnace. I wouldn't buy a house without this offer in the deal.

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    Replies
    1. Now, this is a success story, I am so glad it worked out for you! Sounds like you needed it!

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  6. wasn't sure if we got one, that was almost 10 years ago :) but this helps if in case we move out and get another place again, though I surely wish no, but we could never tell the tides of time

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    Replies
    1. This is true. Neither do I, even though I would like to stay put. Never say never.

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  7. This is very good information that I did not know. Especially trying to get the seller to cover the home warranty.

    ReplyDelete
    Replies
    1. next time you buy another house or buy an investment, make sure you are covered and prepare for things that might happen out of the blues.

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  8. A home warranty sounds like a very good idea! Is that something that has to be purchased when you buy the home or can it be added later on to existing policies?

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    1. Dear Ed, you have to purchase the warranty at the same time you buy your home, or at least before closing and during your signing. If the seller doesn't provide, you can ask your realtor, or the escrow officer. Chances are they will get credit for recommending a home warranty provider they trust.

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  9. Is a home warranty the same as your car's warranty then? Does it cover the entire home and it's appliances or just certain thins and structures? I have never heard of one and now I want to ask my insurance company why they don't offer this and if they do, why they didn't mention it sooner! Thanks for posting this! :)

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    Replies
    1. I guess it is sort of the same as a car warranty because like a car warranty. It covers appliances, and plumbing. The insurance doesn't provide this type of coverage. But you should have asked the realtor, the escrow officer and perhaps the seller if you were in contact with these people when buying your home.

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