When buying a home today, receiving a clean report from the home inspector does not mean you are out of the woods. Systems or appliances in your home could fail a week, a month, or even years down the line. And they may no longer be under warranty, meaning that you will be the one to pay if something goes wrong. That is, if you do not have a home warranty policy.
Having a home warranty policy can protect you from such expenses. You will be offered such a policy at closing, but it is still possible to obtain a home warranty even after this point.
These policies ensure that if, and when, something breaks down or stops working in your home, you will be protected against what could otherwise be a major expense. Systems and appliances like stoves, dishwashers, garage door openers, air conditioning units, water heaters, and more are among the items these policies cover.
So, given how catastrophic a cost replacing or repairing these items could be, it is clear why a home warranty is so critical. Think of it this way: Wouldn’t you rather pay a fixed cost for a home warranty policy each year rather than shelling out who knows how much for an unexpected disaster? There are some exceptions, but for the most part, the only cost you pay when ordering a repair through your home warranty policy is the charge for the service call.
In my last decade as a homeowner, I have had two air conditioning units, my dishwasher, my garbage disposal, and my garage door spring all fail. You never know when a system or appliance in your home may fail.
And if a standard policy isn’t sufficient for your needs, you may consider signing up for a premium or enhanced policy. These offer even more protection.
Between your real estate agent and title company, you will have access to a wealth of knowledge and resources in the process of selecting which home warranty policy is right for you.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.