Buying a house is a magical time, especially if you’re a first-time buyer. There’s nothing like holding the door keys and knowing they open your house. Your mind is full of moving in, decorating, and breathing the rare air of your own home.
But what will you do if the oven or the HVAC system breaks down? They came with the house, but aren’t brand-new, after all. You have nothing left from closing. How will you cook or keep a cool head? We believe now might be the time to explain the 3 best benefits of a home warranty.
1. Protection from the Unknown
The main objective of a home warranty is to protect against the breakdown of major systems and appliances. Home warranties were made for people who can’t do it themselves or those who are too busy to worry about it. For new home buyers, warranties offer a buffer against wiped-out savings or 401k accounts.
Having a home warranty can give you the chance to breathe easier, knowing that you’ll be reimbursed for major repairs like roofing fixes or appliance breakdowns like a leaking washing machine. Instead of paying for replacements, you’ll only have to worry about a small service fee, and your home warranty provider will take care of the rest.
2. Better Return on Your Investment
Experts suggest that home warranties are a major selling point when putting your house on the market. Sure, you might have just bought it, but there could come a time when you want to sell and get the best return on your home-buying investment, right?
That’s where a home warranty comes into play. More than 80% of buyers preferred houses with warranties. Not only that, but more first-time buyers buy houses with warranties attached to them. It’s about being clever with money. Buyers with a house covered by a warranty are one step ahead in the game.
3. Financial Freedom for Homeowners
Wondering what a home warranty covers? You might be surprised to learn just how much financial freedom a home warranty can give you from not having to pay for costly repairs or appliance replacements. Home warranties cover the HVAC system, large kitchen appliances, electrical and plumbing, and the washer and dryer. Sometimes homeowners can pay a little extra to also get their roof, pool, and spa covered with a warranty.
What About Extra Home Warranty Coverage?
Some homeowners have had the horrible experience of buying a house that already has some serious issues. If this is a concern, you might want to take the opportunity to include pre-existing conditions coverage. You won’t have much extra money after closing, after all.
If something breaks in your new home, this added coverage will protect you from a lack of maintenance on the part of the previous owner. When you buy an existing home or a new build, you’re stepping into the unknown. That can come back to bite you, so being covered is vital. Home warranties aren’t insurance, but they help protect you from the unexpected!