Wondering if a home warranty is the right choice for your family? To be honest, I had never even heard of them until we purchased our first home. And, if our realtor hadn’t explained what it was to us, we may not have. While every home warranty is a little different and has its own policy and fine print, it is something that, as a homeowner, is really great to know is out there and available!
First off, a home warranty is not the same as homeowner’s insurance. It is individual contract between you and the company you choose, that protects your home’s appliances and systems from breakdown that occur from normal wear and tear. Often, this includes electrical, plumbing, heating and cooling as well as many of the appliances in your home. Let’s say your dishwasher stops working. Instead of calling a repairman, you could call your home warranty company and, if its covered, they would send someone to come repair or replace it. Or if your air conditioning goes out; you wouldn’t be stuck wondering who to call or what to do.
So, how do you know if a home warranty is right for you; here are a few things to consider. If you are buying a brand-new home, you may not need one as it will take some time for normal wear and tear to occur. Buying an older home? It may be a good idea to have one as it is inevitable that systems and appliances will need repair. Also, ask yourself if you could afford the full cost of replacing your refrigerator if it went out, or your furnace. If it’s a concern, a home warranty is a great option! They are a great way to bridge the gap for the cost of repairs on your home.
I know that when we purchased our first home, I was so thankful that we decided to get one. It gave us such peace of mind that if anything did go wrong, we would have experts available to help us find the right person to help. And, we knew that if any of our appliances or systems went out, it wouldn’t break the bank. They are usually quite affordable and are worth looking into!