How does it feel when your dishwasher or air conditioner suddenly stops working a week or two after you’ve moved into your new home? It isn’t very pleasant. In some very unfortunate situations, your furnace may even spoil during winter, and you are forced to brave the colds.
Such challenges are not only stressful, but they are inconvenient. No homeowner wishes to face such. At least not after they’ve just moved into their new residence. To avoid such, you should consider residential warranty services.
A home warranty relieves you some financial burdens whenever any of the home appliances or system breaks down. You will be required to pay upfront fees for your warranty. Investing in residential warranty services is worth the effort. This article provides essential details on what exactly a home warranty is, what it involves, and its cost. We will also discuss whether it’s worth the effort.
What do you Understand by a Home Warranty?
Most people tend to think that a home warranty is an insurance policy, but it’s not. Instead, it’s a service contract that meets the cost of replacement or repair of covered items, including major kitchen appliances. The warranty also covers the cost of replacing other vital home systems such as plumbing, air conditioning systems, and electrical systems. Nevertheless, some features are not covered in a residential warranty. They include doors, windows, plus other structural features.
Basically, a residential warranty is meant to meet the costs of damaged items that were in good condition when you were occupying your new home and later fail as a result of wear or tear or other problems. Besides, getting a residential warranty is a great way of attracting potential buyers for home sellers. Buyers also should get the warranty to save the cost of repairing non-functional home systems and appliances. That way, you won’t have to deal with such problems when they arise.
Is Investing in a Residential Warranty Worth it?
Every home buyer or seller must ask themselves this question before commuting their wallet on residential warranty services. In most cases, a home warranty cost will range from 350 dollars to 600 dollars per year. But you can also pay more if you prefer a detailed coverage that will meet the cost of other home amenities, including pools and septic systems, washers, and dryers, among other things. However, the cost primarily depends on the home warranty service provider. The prices range from one provider to the other. Aside from the annual premium, you may be required to cater for the service calls. This will cost you 50 dollars to 125 dollars. Again, this will be based on your purchased contract.
Note that if you do not have a residential warranty, you could end up spending thousands of dollars replacing or fixing major home systems and appliances. Things would be very tough, especially if you had not planned to spend as much money on such unexpected breakdowns.
Let’s look at the estimated national costs for replacing main home systems according to experienced home advisors;
- Furnace; costs $4,286
- Appliance repair; costs $170
- Central air conditioner; $5, 467
- Water heater; costs $889- tank (40-50 gallon) while tankless is $3,000
Who Should Purchase a Residential Warranty?
Are you buying a previously occupied home from a reputable company or home seller? In such a case, you should not ignore the need for a home warranty. It’s also vital, especially if most of your new home systems and appliances are about to expire, according to home inspection findings. Before signing a residential warranty, ensure that all the details are clear. For instance, you should understand all the conditions involved, the time-span of the coverage, and home structural features that are not covered in the warranty.
Also, you can get a residential warranty if you intend to sell your home. That way, the deal will be a sweater, and you’ll get more prospective buyers. With a home warranty, the home buyer rests assured that home appliances or systems that may stop working abruptly shortly after occupancy will be fixed or replaced at a reasonable cost. This will keep your home on sale at the top of the game.
When to ignore Residential Warranty Services?
If you are buying a newly constructed home, investing in residential warranty services isn’t so necessary. This is because you’ll definitely get a builder’s warranty for workmanship and materials. This covers plumbing services, heating, and cooling, electrical, among others, for a maximum of 10 years.
However, a builder’s contract does not cover home appliances. But most appliances come with a warranty from the manufacturer. Therefore, as the owner of a newly built home, you may not need a residential warranty.
Furthermore, aside from the manufacturer’s warranty upon purchasing new appliances, some credit cards come with extended warranties. So, if you intend to repair your kitchen and pay for the new appliances needed using a credit card, then buying a residential warranty may not be worthwhile.
What are the Advantages of Home Warranties?
If you have a home warranty, you’ll have some peace of mind, especially if you have bought a home with older systems and used appliances. If your new home is in a new area, then you won’t have developed relationships with skilled local mechanics or contractors to fix your damaged appliances at a reasonable cost. In such a case, you will need to hire a residential warranty services provider to help fix your home systems. Furthermore, a good warranty company will assign the task to trusted and highly skilled technicians.
Obviously, not every other homeowner is well equipped with DIY skills. Therefore, they can’t fix or replace home systems or appliances by themselves. If this is you, any breakdown in your new home will only add to your worries. But if you have a residential warranty company to back you up in case of breakages, you will never be inconvenienced. Also, you won’t have to dig a dipper in your pocket to spend on projects you had not planned for.
With that in mind, get in touch with a reliable residential warranty services provider today and move to your new home with great confidence. Experienced technicians will always be at your service to ensure that everything works out perfectly well.