You have found your perfect home, and you are putting an offer in, but should you get a home warranty? A home warranty protects you against things breaking in your home and the costly repairs that come along with it.
Home warranties may cover different things depending on the company and the policy. Most cover appliances, HVAC, hot water heaters, ductwork, some plumbing, and electrical systems. You can get more, or less coverage. It is important to know exactly what you are getting.
Is the home you are buying new or old? Most new homes come with a builder’s warranty, so an additional warranty would be unnecessary. If it is not a new home, decide if paying a small fee for a repair would be more beneficial for you than paying for the repair yourself, or replacement if needed.
Who pays for it? Home warranties can range from $250 to $400; so who pays for it? It depends on what you, your agent, and the seller’s decide. You can ask for it to be paid for by the seller, or you can pay for it at closing. A home warranty is paid for 6 months to a year in advance, depending on the policy.
How does it work? It is important to verify specific details with your home warranty company, but generally you call them when something breaks, they set up your appointment, the repairman comes out and determines if it is covered; if it is covered, it will be repaired and you will pay them a small fee. There are many reasons why a claim could be denied, including regular maintenance not being done. You will want to clarify with the home warranty company so that you are prepared.
If you need help deciding on whether or not you need a home warranty, or when you are ready to sell or buy a home, we at Haylen Group are here to help you with all of your real estate needs! If you are unsure what your options are, call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.