What Is a Home Warranty and Why Do I need one?

Reblogger Trisha Pennington
Real Estate Agent with Coldwell Banker Reilly & Sons

Here is a wonderful article about Home Warranties and the importance of getting one when you buy a new home.  Writen by Lora "Leah" Stern, Realtor Suffern, Rockland County NY

Original content by Lora "Leah" Stern 914-772-4528

What Is a Home Warranty and Why Do I need one?

Your home is probably your single biggest investment.  For most new home buyers the last thing they need to worry about is an unexpected repair that can seriously strain their budget.  For peace of mind and as added protection against anything major that might go wrong with a homes major systems, it's a good idea to get a home protection plan.

handyman

It safeguards you against the financial strain of a major repair and for first time homebuyers that have little or no experience in maintaining a home this can be a real lifesaver.

What exactly is a home warranty?  It's actually a renewable service contract that covers the repair or replacement of most of a homes major systems.  Most home warranties will cover the plumbing, electrical, and  heating systems of the home and also some of the homes major appliances such as refrigerators, dishwashers, and ovens.

plumbing

The way it works is that the home warranty company contracts with local repair companies and servicemen to provide service.  If something breaks you call the home warranty company and they send an insured and approved contractor to do the work.  In most cases, your only out of pocket expense will be a small service charge to the contractor. All other work and replacement parts are assumed by the the warranty company.   If it becomes necessary to replace any appliance or system, they will replace like with like or in the case of a discontinued item, they will replace with the next closest comparable item.

If, as a seller of a home you offer a home warranty to your buyer, then the coverage offers protection for the home the entire time it's on the market  from the time its listed until one year after title transfer.  This gives buyers extra confidence in the real estate transaction since they know that if anything goes wrong while the house is under contract, the home warrenty company will fix it.  They don't have to rely on a seller who might avoid investing more money into a home he's trying to sell.

The best source for a Home Warranty company would be your Realtor since they deal with these companies daily and know which ones are the most popular ones with their home buyers.

As a realtor I generally encourage both my home sellers and buyers to invest in a home warranty.  They range in price between $350-600 /yr depending on the company, location and coverage.  I'll negotiate it for my buyers and contribut to the cost of it for my sellers. Its a small price to pay for piece of mind.

Lora "Leah" Stern - Your Rockland County, NY REALTOR of Choice - (914) 772-4528

Your Rockland County, NY Real Estate SpecialistLeah Stern Signature Photo

(914) 772-4528 CELL
(845) 369-1938 DIRECT LINE
(845) 634-0400 OFFICE
(862) 345-2463 FAX

If I can assist you in any way with your real estate needs in Suffern, NY Rockland County or the surrounding areas, please feel free to contact me by phone at (914) 772-4528, email me at Leah.Stern@cbmoves.com or visit my website .

Follow Me:        Twitter icon      Linkdin icon      facebook icon

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Kansas Leavenworth County
Tags:
leavenworth county real estate
kansas city real estate
home warranty
leavenworth ks real estate

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
218,771
GARY DIGIORGIO -Denver- Arvada -Westminster
THE DIGIORGIO GROUP /(303) 898 - GARY (4279) - Westminster, CO
REOptions LLC

cuz i said so...lol

Jan 15, 2011 12:54 PM #1
Rainer
144,219
Trisha Pennington
Coldwell Banker Reilly & Sons - Leavenworth, KS

EXACTLY!!!

Jan 15, 2011 12:57 PM #2
Rainmaker
495,151
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

Trisha, thanks for the reblog.  Warranties are not a cure-all but help minimize damages of unexpected home repairs.

Jan 17, 2011 11:26 AM #3
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the umbrella to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
144,219

Trisha Pennington

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the music-note to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: