We can get product and service warranties on just about anything we buy these days. So, why not on a house? Whether you are selling a home, renting it out, or buying one, a home is one of the largest investments anyone can make. With a home warranty plan, you can help preserve that investment. The best home warranty providers offer 24/7 customer support and a wide range of plan coverage. Check out reviews of AFC Home Club to help narrow down your search. If you’re still unsure why a home warranty plan is worth the investment, continue reading to learn more about its advantages.
- As a seller, a home warranty plan can help attract potential buyers. A Gallup poll showed that eight out of 10 homebuyers prefer a house with a warranty plan. So, if you want to make your property more marketable, get a warranty plan. When a homebuyer chooses between a newly constructed house and an old property, a home warranty will help level the playing field. Many people, especially first-time homebuyers, may not be interested in a home without this form of reassurance from repair and replacement coverage of used appliances.
The same goes for many renters who may not have the extra funds for such expenditures. A home warranty is undeniably a good incentive for you as a seller to offer. You can give your potential buyers or tenants peace of mind since they don’t have to worry about the integrity of the appliances, systems, and other materials covered by the warranty plan.
- As a homebuyer, warranty coverage lets you anticipate expenses and protect your budget. Some sellers won’t sink money into revamping a home that they are leaving. If you recently bought an old house, getting a home warranty, which can run anywhere between $350 to $500 per year, would be an excellent idea. A home warranty plan is usually offered to cover the first year of your home purchase, but you can also renew it as needed. A basic plan generally covers the repair and replacement of the different systems and appliances in place. These include kitchen appliances and heating, electrical, and plumbing systems, to name a few. The components that break down due to normal wear and tear are often expensive to repair and replace.
A home warranty plan can help you anticipate these out-of-pocket expenditures. Instead of wild-guessing how much the system or appliance breakdown will cost, you’ll now have a better idea of what expenses to anticipate. This will help you with household budget planning. Some companies offer a one-time annual payment, while others provide an option of dividing the cost, allowing you to pay monthly. You will also know the repair or replacement amount in advance when the service contractor arrives at your home to check the covered problem and fix it.
It doesn’t matter if you own a home and plan to sell it soon or if you’re looking to buy a new one. A home warranty plan can greatly benefit you. It’s an excellent complement to a standard homeowners insurance. While both give you more financial control, the two are separate entities. It’s important to understand that a home warranty is not a substitute for home insurance. A home warranty plan will protect your home’s major systems and appliances as they age. It lets you save money when your dishwasher or water heater suddenly stops working. These kinds of repair and replacement will not be covered by standard home insurance. The insurance policy will protect you from unforeseen events, such as home invasion or fire damage.