One of the things that worries most new homeowners when it comes to buying a new home are the costly repairs that expenses that they weren’t aware of when they first saw the house. Fortunately, there is a way to avoid this, and that is by purchasing a home warranty.
A home warranty is a kind of service contract which covers repairs and replacements for residential houses for a period of one-year, thus lessening the burden of homeowners who are supposed to shoulder the cost. By purchasing a home warranty, the new homeowners will be able to enjoy the following benefits:
Save Money and Spend Less
It is no secret that home repairs can cost a lot of money, and after paying for the down payment for the house, it is no surprise that many new homeowners find themselves with very little money left in their bank accounts. And whatever money is left, is supposed to be used for paying the utility bills or for buying groceries – not for any home repairs.
With a home warranty, new homeowners can breathe easier because the company will be the one to shoulder the cost of the repair, allowing the new homeowners to put their money aside for the more important matters.
Guarantees and Protection
Some home warranties also offer to cover the replacement and repair of electrical systems and appliances. Some companies who offer home warranties also offer to cover such items regardless of the brand or model, and the best part is that the repairs are even covered by a guarantee.
Because of the benefits that a home warranty gives, new homeowners often opt to renew their home warranties with the company (provided that the company offers such a program). If such a program is offered the new homeowners can renew their warranties annually and enjoy the same benefits.
Take note though, that not all companies who offer home warranties provide for the same coverage. One feature may be present in one company, another feature may be present in another company, or both features may be present in only one company. In order to ensure that you are getting the best deal possible, be sure to learn more about each company’s home warranty and make comparisons where relevant.