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Home warranty is beneficial
for both buyers and sellers
A home warranty offers peace of mind to both buyers and sellers.
I always encourage my sellers to purchase a simple home warranty on their
house that will transfer to the buyers. A 1 year home warranty typically costs
between $200-$450 and covers the cost of repairing or replacing appliances, hot water heater, plumbing, etc. in a home.
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Homes offered with a home warranty typically sell faster and for a better price than
those without. Buyers recognize the value of a home warranty and feel more comfortable when a home is covered by a warranty. They will give preference to covered
homes when they make their choice.
Typically the warranty covers the house for the time it is on the market and transfers to the buyer for a year after it is purchased. In a
home covered by a home warranty, if a covered appliance or system breaks down, the insurance will pay for the repair or replacement as specified by the policy. The homeowner only has to pay a small deductible for each service call.
Of course, buyers can also purchase a one-year warranty for a home that is not covered by the seller. For buyers, a home warranty offers protection from the worry of unexpected expenses at a time when they might not have much available cash (right after a home purchase). In addition to the mortgage and closing costs, new homeowners often want to buy paint, carpeting, furniture,
etc. The last thing they need is a worry about paying for appliance repair or replacement.
A home that’s offered with a home warranty comes with peace of mind for both sellers and buyers.
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Equal Housing Opportunity