Is a Home Warranty a Home Buyer’s Best Bet?

Many times, you are bound emotionally to the house that you are about to buy. So there might be lot of things to which you would not have paid attention, especially about the way the home appliances have been maintained. In fact, there have been instances where after buying the house, the buyer has realised the breakdown of appliances due to normal wear and tear. That is why, home warranties become so important especially when you are buying a house.

As you may know, a home warranty is a service contract to protect your major home appliances. A house for sale with an appliance warranty plan is definitely more attractive for the prospective buyer as it gives a sense of security. The age of the house or the home appliances does not matter as long as they have been maintained well and are covered by the home warranty.

While buying the house, as a buyer, you should clearly know the difference between a home appliance warranty and a home insurance. A home insurance is for natural disasters, theft or burglary. A home appliance warranty is for the home appliances that break down due to normal wear and tear. Many a times, a home warranty helps you to avoid high repair costs especially during and after the sale of the house.

Usually, home warranties are purchased for a year and can be renewed annually. Before buying a home protection plan, it is necessary that you conduct some research on various companies, what are covered and what are not covered, premiums offered by each company and so on. There are lot of reviews and user experiences available on the Web which you can read and understand. Also, some websites provide ratings for the warranty companies. Ensure that there have been no customer complaints about the company from which you are planning to buy the home service contract.

It is very common that a seller normally pays for your home warranty as it serves as an incentive. The seller does this willingly especially if you have bought the house at a higher rate than the market value. The real estate agent plays a pivotal role in promoting home warranty along with the sale of the house.

So, a home warranty definitely acts as a security and induces lot of confidence in a buyer while buying a house, irrespective of the factor if it is new or old. When a home warranty guarantees you so much, why not ensure that you get it while you buy a house?