Regardless of whether the house is new or old, things are bound to break down and get damaged.
That’s why it’s good to have a home warranty in case of those kinds of accidents.
It’s good to have a safety net, especially when it comes to finances, so a home warranty might come in handy.
Here’s why you need it and how it can help you in the long run!
What is a home warranty?
Before you jump into it, it’s important to understand what a home warranty really is.
It basically means that there is a contract between you and a chosen company for home warrants in order to protect the home and work as a safety net in the process.
Warranty providers agree on covering certain costs regarding home accidents and malfunctioning appliances and systems.
You don’t have to panic when a covered item breaks anymore! If you end up damaging your property in that way, it’s covered by the warranty – all you have to do is get a service provider to check out the damages and confirm them.
It’s different than home insurance
New homeowners should be aware of all the possibilities and options that stand in front of them.
One of those solutions is definitely a home warranty, and it provides many benefits – but people seem to miss using it.
Home warranties and home insurance are kinda similar, but also different in many ways.
A few hundred dollars is a better investment as you can cover big components such as plumbing, electricity, and similar – warrants cover all of them!
The benefits
The benefits of a home warranty are pretty obvious – it helps homeowners have a safety net to fall back on when experiencing damages and appliance malfunction.
Unfortunately, nothing can be done to prevent certain accidents from happening, anything can break and malfunction anytime, so it’s good that we are aware of this when experiencing homeownership.
It’s best to simply get your dryer or washer insured than to buy it brand new. It’s as easy as that – just make sure what items and situations are stated in your contract beforehand.
On the other hand, having a home warranty has other benefits as well.
If you are looking to sell the home, it has more of a chance to get sold quickly as having a warranty is appealing to most customers, it also adds to the value.
It’s just another safety layer that makes potential buyers interested and relieved while looking at your property.
Cost
Every service provider is different, so the prices might vary. It also depends on the type of the property and how the property owner plans on using it. Try to find two or three warranty providers and see what suits your need the most
All in all, there is much to discuss home warrants as they are great both for old houses and new ones, especially with the uncertainty on what could happen.
It’s always best to have a plan b and something to fall back on, especially financially, and home warrants are great for that!