No one wants to pay more than they have to for the upkeep of their home and yet, no matter how we all try, there always seems to be a stream of unexpected bills to pay, often because something has gone wrong with plumbing, an appliance or a heating/air conditioning system. What's also so very true is that nasty surprises of this nature almost invariably occur at the most economically testing time.
It is therefore perhaps surprising that no everyone seems to be aware that many of these worries can so simply be avoided through buying a home warranty.
With an extensive selection of products and extent of available cover, home warranties are basically insurance policies that, usually for a regular monthly fee on an annual contract basis, offer protection against all common problems with HVAC systems, plumbing, appliances and electrical problems etc., etc. You can even include optional items like swimming pools and hot tubs on some schemes.
The central advantage is that you only have to pay a sensible regular sum of money for repairs, or even complete replacement of items in certain situations. Warranties are therefore a great way of making what is potentially the most unpredictable element of your budget a much better regulated cost factor.
Despite there usually being a nominal call out fee when an issue is reported and investigated, the call out cost will be a fraction of what those without a warranty are likely to pay. Another less appreciated plus is that tradesmen who are approved by the warranty companies will have been through a strict vetting process. They are also accountable for the quality of their work to both you and the warranty provider.
Home warranties are also a terrific tool for home sellers. Including such a warranty in your selling package will be very attractive to buyers, who will be impressed that they get to control unexpected costs in what is often an economically sensitive period. They also have a structure in place to continue to keep costs down by renewing when the warranty expires.
Even if the homeowner doesn't offer a warranty, buyers can always request one in the negotiation process. However, it is much better to preempt the situation and a warranty is a relatively low cost way of making your home more attractive to potential purchasers.
Whether you're selling or buying, or simply an existing home owner in search of more reliable budgeting, a home warranty is one of smartest moves you can make.
Please contact us for further advice on this or any aspect of real estate.