Benefits of a Home Warranty

Buyer-TestimonialsThe majority of both Buyers and Sellers rate home service agreements as one of the most important considerations when buying or selling a home behind location, design and financing options. The last thing you want to do as a new or existing home owner is shell out big bucks to pay for a system or home repair. Being protected from expensive repair and replacement costs are beneficial to the seller, buyer, and current homeowners. The purchase of a home warranty can raise many questions for the buyer; it is a big decision with many aspects that cannot be overlooked. A small amount of research and education can save you thousands in the long run. Before making the decision to waive that home warranty take a look at what you could be losing by doing so.

How does a Home Warranty work?

Although certain plans operate in different ways, most follow the same criteria. In the case which a home system or appliance breaks or stops working, the homeowner would call the home warranty company who will take care of the process. The provider will fix the problem or replace appliances that cannot be repaired. The home owner will pay a small trade service fee of usually less than $100.

Who pays for the Home Warranty?

Whether the seller or buyer pays for the home warranty can vary. In most cases it is normal for the seller to pay for the coverage. This way the buyer won’t be calling the seller after closing if something breaks. This is a small cost that can save you time, energy, and money in the long run.

What is covered vs. not covered?

As stated above all plans and coverage may vary. For the most part the general specifications are the same. Here are examples of some items that would be covered vs. not covered on Home Warranty plan.

            Covered                                            vs.                           Not Covered

  •  Air conditioning
  • Furnace and heating
  • Water heaters
  • Ductwork
  • Inside plumbing
  • Electrical systems
  • Range and Oven, Dishwasher, Disposal
  • Outdoor items such as sprinklers
  • Refrigerators, washers & dryers or
  • Garage door openers
  • Spa or pools are usually not covered unless using specific coverage

**Not all Home Warranties are the same. It is recommended to thoroughly review your specific plan in order to be sure of what is covered in your home.

Overall benefits for both buyers and sellers.

The investment in a Home Warranty provides benefits for both buyers and sellers. Below is a preview of the various conveniences that a Home Warranty provides you.

                     Sellers Benefits                                                         Buyers Benefits

  • Home Warranties make your home a preferred home.
  • Peace of mind- Knowing when you sell your home you will not be responsible for any further fixes.
  • Builds buyers trust- Helps potential buyers feel more comfortable purchasing your home knowing they have that extra protection.
  • Inexpensive way to add value to your home.
  • Saving $$ in the long run- Rather than paying hundreds to repair or replace an appliance or system, you will pay a standard deductible, helping you protect your budget.
  • Unlimited service- You can use your Home Warranty as many times as it is needed, no limits.
  • Working with pre-screened service partners- Each professional is pre-screened and approved by your Home Warranty provider so that you know you are dealing with honest and good people.

It is no surprise that when purchasing or buying a home a lot of expenses can come into play. It is so important that as a seller or buyer you do not overlook anything. Taking the time to educate yourself about each warranty and agreement you are provided with will not only cover all of your bases, it will save you time and money in the future. Whether you’re selling or buying a home, we’ve got you covered. Nothnagle REALTORS’ Home Warranty will give you peace of mind by eliminating the concern over the possibility of unforeseen repairs.

Contact a Nothnagle Agent today and discover how a Home Warranty can benefit you.

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