If you are buying a new home it should come with a builders warranty so you shouldn't have to purchase a home warranty insurance plan. If you are not buying a brand new home, I would strongly recommend making a home warranty a part of the transaction. Often a real estate agent with convince the seller to offer a home warranty as an incentive, but even if they don't offer one, you can write it into the contract. Sometimes (depending on the size of the transaction) the agent may even offer to purchase one for the purchaser as a settlement gift.
Even if you have to pay out of pocket, the cost is relatively inexpensive with most plans running between $250 and $600 per year. Many people don't realize that you can renew the home warranty after the first year.
But What Does it Cover?
Please know that a home warranty does not cover anything that could go wrong with your home. Typically, a home warrany covers major systems and applicances, but you will want to read the fine print to know exactly what is covered on the plan you are considering. Also, keep in mind that often there are deductibles or service charges in conjunction with claims.
The goal of the home warranty is not to eliminate every possible expense, but to help a new homeowner not have any costly surprise expenses after spending most of their savings on closing costs to get into their home.
For more information or to purchase a home warranty, visit American Home Shield.
1 comment:
I agree that we should have an assurance that you have a warranty in buying a new home. We all know that buying a house is really expensive that's why our option is to find affordable housing loan.
Planning to reside here in Pittsburgh, mortgage lenders are very important because they will guide the new buyers on the latest mortgage rate (Pittsburgh).
For new buyers, I think it is better that you make are research about mortgage loans and such tips through the internet.
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