Purchasing a house can be intimidating. With all the costs of maintaining your home, there is little reason to wonder why. Replacing large appliances can cost you significantly in time and money. Luckily, there is a way to protect against this. A home warranty is an excellent method for giving homeowners some added security. Here are just a few benefits you may see when you have a home warranty.
Protecting the Homebuyer
Home warranties are a great addition to insurance. Most homeowners’ insurance does not cover things like appliances and other essential components to a home, especially when it comes to breakdowns from normal wear and tear. This is where the home warranty comes in. It is important to remember a home warranty is a fantastic addition to homeowner’s insurance but is not an actual substitution for it. Both go a long way in protecting you from a financial burden at inopportune times.
Appliances and home operating systems do not break down when it is convenient, nor is it easy to predict when you will need to repair one or replace them. With a home warranty, surprise replacements and repairs won’t be a problem, as the warranty takes care of them for you. Generally, home warranties offer you the chance to pay monthly or on a yearly basis. This means that you can easily plan this expense into your budget.
Home warranties are an excellent way to protect a new buyer, in particular. Many first-time homebuyers do not have much savings, if any, once they get into their home. Facing the replacement of a furnace as winter approaches on a new home could be a traumatic problem. When you have a home warranty, it is much easier to get a repairman out, and the expense will be much less or nothing at all, depending on the terms of your warranty.
A home warranty can save you time. It is safe to say that your appliances and essential home systems will only break down at the worst possible times. With a warranty, you won’t need to search for the right repairman. Instead, simply contact the company you are contracted with, and it will help you connect with the right contractor to repair your appliance. They will know who to call if it is the weekend or a holiday. Depending on your particular warranty’s terms, you may only have to call your provider, and the rest will be taken care of.
Home Warranties Help With Anticipating Expenses
Because systems break down when you least expect them to and because home warranties have a regular payment, expenses and budgeting become much easier. Say goodbye to surprise additional expenses over the holidays. You won’t have to cancel a vacation because your water softener died. You can simply budget your warranty payments into your regular finances and avoid being hit with unexpected bills.
For those of you who rent out homes, home warranties are the best option for keeping things running smoothly. You won’t know when appliances are starting to wear down because you aren’t there using them every day, so it will be even harder to predict when they may break. That makes it impossible to easily budget for it.
In addition to that, tenants cannot be left without working heat or deal with other large appliance failures. With a home warranty, repairs can happen more quickly, and the cost will have been rolled into the warranty, so it will not need to be budgeted for. While some landlords may think appliances will be covered with renter’s insurance, the truth is that most landlords provide large appliances, and therefore they are the landlord’s responsibility.
These are just a few of the advantages of a home warranty. There will be more specific benefits to the home warranty that you decide is right for your situation. Consider the details carefully and compare a few options before deciding which one is right for your needs. For example, read a Choice Home Warranty review to get an idea of what to look for in a home warranty.