Should You Buy a Home Warranty Plan?

//Should You Buy a Home Warranty Plan?

Should You Buy a Home Warranty Plan?

Have you ever seen a movie where an unsuspecting couple buys their dream home and as soon as they move in things begin to fall apart? For some homeowners, that scenario has become their reality. For new first-time homeowners, the scenario can be their worst nightmare. A home warranty plan can eliminate that problem.

The Advantages of a Home Warranty Plan
Whether you are buying or selling a house, a home warranty plan is an advantage. The plan costs relatively little when you consider the problems that could crop up. For sellers, the home warranty plan sweetens the deal. It also gives the buyer more of a secure feeling. If you’re buying a home, getting a warranty plan can add to your peace of mind.

Owning a home means you are responsible for anything that goes wrong. Your bank account will be affected by any systems or appliances in the home that need repair. If everything works smoothly, you have nothing to worry about. The fact of the matter is, you never can tell when something will go wrong and that is the time when the home warranty plan comes into play.

How the Plan Works
There are distinct types of home warranty plans. It is important to understand that these plans are not insurance policies which replace or pay for items that have been damaged or stolen. They are service contracts which will repair or replace the appliance or system that is covered should it stop working or functioning properly.

The home warranty company will provide a contractor for repairs. You need to let them know the problem and they will send someone out to asses and resolve the issues. Occasionally this may result in the system or appliance being replaced.

What Home Warranty Plans Cover
Systems and/or appliances covered under home warranty plans can vary from plan to plan. Usually, systems like air conditioning, heating, garbage disposal systems and plumbing may be included. Appliance coverage can include washers, dryers, dishwashers, stoves, cooktops, ranges and built-in microwave ovens. This is by no means an exhaustive list. You will need to consult with the company to find out exactly what they will cover.

Find Out What Is Covered
If you are buying a new home, you may have coverage already, or coverage for some things. You may be offered a home warranty by the seller or real estate agent. If this is the case, accept it and be sure to find out how far the coverage extends. A home warranty can save you thousands of dollars should you need to repair or replace something.

The Minnesota Real Estate Solution has been helping buyers, sellers and investors for years. Contact us for help in finding a home or buying or selling properties. We have creative solutions for any home need.

2018-12-03T16:00:36+00:00