For new homeowners, a wide range of coverage opportunities on the market today can make it extremely difficult to find the right policy. When weighing out your options, it’s always important to bear in mind what you actually need and what’s already covered. While every case is different, here are five reasons you may want to look into getting a home warranty.
You’ve Got an Old Home
If your house has a few years on it and you don’t know how old your appliances are, repairs can start to get pretty pricey. Repairs on expensive appliances like refrigerators, ovens, dishwashers, washers and dryers, air conditioners, and water heaters can start to add up. For an average yearly cost of $300 to $600 a year, a home warranty can be a great option for those that want to avoid the inevitable expenses associated with old appliances starting to break down.
You’ve Got a Busy Schedule
When you’re weighing out your options, it’s important to consider your schedule. If you’ve got a busy work schedule or kids to take care of, the thought of learning how to repair appliances on your own isn’t very realistic. Home warranties are great for those that simply don’t have the time or knowhow to perform DIY repairs on their appliances.
You Have a Fine Taste in Appliances
For those with expensive appliances, the cost of repairs can add up quickly. If you aren’t using more than $600 worth of repairs a year, it doesn’t make much sense to get covered. On the other hand, if you have a $600 dollar policy that replaces your $3,200 air conditioning unit, having a home warranty starts to make a lot of sense. If your appliances are valuable, a home warranty can save you a ton of money on repairs in the long run.
You Don’t Know Any Contractors
If you’re a new homeowner, there’s a high probability you haven’t established a relationship with any contractors in your new area. Online reviews are great but they hardly paint the whole picture. Searching for contractors is an extremely time-consuming process, and there’s always a certain level of uncertainty when you’re hiring someone new for the first time. As most home warranties provide you with a trusted contractor, you don’t have to worry about going out of your way to find someone you know you can rely on.
You’re Getting Ready to Sell
For homeowners looking to sell their house, getting a home warranty policy can be a quick and easy way to increase the value of your home before it hits the market. Home warranties can also be used as a marketing tool to attract potential buyers looking for an added peace of mind. Realtors and people that include home warranties with their listings typically find and close offers significantly faster than those without.
If you sympathize with any of these points, getting a home warranty could be a great way to save money and decrease your stress levels. The upfront cost of a home warranty might sound expensive at first but remember, paying $300 to $600 a year for a policy is a lot better than fronting the entire cost of $1200 repair on your refrigerator.
See also this article about why Home Warranty is a solid investment.