Home warranties protect you whether you have a new or older home. Policies that cover most major appliances or home systems spare owners from big, unexpected repair bills. Warranties make it easier to sell a home and may be a lifesaver if you rent your home. Below are six reasons to consider a home warranty..
You’re Buying a Home
Home purchase costs can quickly mount up, leaving new owners cash strapped and without a reserve in case something breaks down. Creating a budget that covers any possible repairs may be next to impossible. A home warranty will help. You can buy a contract to fit your needs, whether you want to cover most home systems and appliances or just the biggest and most expensive.
You’re Selling a Home
According to Bob Vila, offering house hunters a warranty is a great way to encourage them to buy. The marketplace is fiercely competitive, and a guarantee that new owners will not have to face huge repair bills for years can help.
Many buyers are nervous about homes with older systems and appliances. Buyers may not want to take the time and trouble to replace older systems and devices. Warranties provide an ideal compromise.
It’s Convenient
Investopedia experts say that home warranties offer a solution for busy people without the time to get estimates and arrange repairs whenever something in their home breaks down. Home warranties whittle the chore down to a single call.
Homeowners call the warranty provider who reaches out to tradespeople in their networks. You get an appointment in a day or two, and most services offer expedited emergency service.
You’re Renting a Home
Renting a home can be a reliable source of income, but it’s crucial to keep it rented and attract the right tenants. You want to make your home attractive to well-qualified renters, and providing a warranty can help. Future renters see home warranties as a sign that properties are well-maintained and repairs are made promptly. They view landlords as responsible people who care about their property.
In some cases, warranty providers allow tenants to make service requests on rented properties. When available, this is a real perk for renters since it speeds up the repair process.
Guaranteed Quality Work
Finding well-qualified, licensed tradespeople to make home repairs can be challenging, especially if you don’t know the area well. That’s not a. problem with home warranties. Providers have a network of trusted contractors they can call. Because each is carefully screened, you don’t have to worry about them entering your home. These licensed, experienced tradespeople ensure high-quality repairs. You have no legal liability, either. Licensed contractors are responsible if something goes wrong on a project.
Peace of Mind
Home warranties’ most crucial benefit is the peace of mind that comes from not worrying about big, unexpected repair bills. Many people cannot afford the cost of replacing a major home system, so a breakdown could become a serious problem. Home warranty providers meet these unexpected costs after clients pay the service fee. The reduced financial stress makes this kind of protection invaluable.
Home repairs can be expensive and unexpected, but home warranties offer a solution. Homeowners can buy coverage for all their systems and appliances or just those they select. When breakdowns occur, the warranty provider will make repairs, and the client only pays a service fee.
