10 Benefits of a Home Warranty
Buying a home is one of the largest investments people can make and a home warranty can help protect that investment. That’s not the only advantage of a home warranty; learn 10 more benefits a home warranty provides when buying or selling a house.
First-time homeowners often have tight budgets after using most of their savings on the down payment. A good home warranty helps cover the cost in case major systems fail early in their homeownership, preventing the new homeowners from having to dip into their savings or borrow money for repairs.
New homeowners introduce new usage patterns to existing appliances and systems. A water heater that supported a family of two can become stressed when a family of five moves in. A home warranty ensures that everything is covered should something breakdown.
Failure to disclose any information about systems and appliances can lead to post-closing litigation; a home warranty helps a seller manage that risk.
It enhances your home’s marketability. When a buyer is trying to choose between an existing home and new construction, a home warranty can level the playing field by offering repairs and/or replacement coverage for used appliances.
It allows buyers access to wholesale pricing on appliances through the warranty company’s network of appliance vendors.
It provides peace of mind to buyers that a problem is handled even before it occurs.
It provides you access to a comprehensive network of approved contractors, who are continually monitored and graded on their performance.
Sellers don’t want to sink money into repairing or replacing an expensive appliance in a home they are leaving. A home warranty can offer protection while your home is on the market.
Home warranties typically cover the repair or replacement of high-dollar systems like air-conditioning, which can cost anywhere from a few hundred dollars to fix or thousands of dollars to replace without a warranty.
It can help discourage downward price negotiations during the sale of the home by reassuring potential buyers that unexpected system failures can be fixed.
If you have questions on home warranties or any other real estate related items - give us a call we are always here to help assist you.
Marnie Schaar & Associates Long & Foster Real Estate are licensed Virginia Real Estate Marnie@LNF.com · Cell: 703.509.3107 | Margo@LNF.com · Cell:571.839.6009 2100 Reston Pkwy Suite 102 · Reston, VA 20191
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