Many homebuyers out there have never heard of a home owners warranty, but if you are offered one you should definitely go for it. Many times you can have it written into the contract that the seller will pay for a one year warranty. This home owners warranty is a great way to protect your home, which is probably your largest investment. These warranties are like insurance, and will help you afford to make the necessary repairs to your home to maintain the value and integrity of your home now and in the future.
Of course, a home owners warranty is not just good for the first year that you own the home. You can carry one of these warranties for as long as you own a home, if you would like. What this will do for you is help you pay for any large expenses in the home such as replacing an air conditioning unit, a heater, duct work, plumbing, and appliances. You will pay a yearly or monthly premium to keep the warranty but you only have to pay a small fee to have a service technician come to your home and repair or replace the damaged or worn item.Â
Many home owners report that their home owners warranty more than pays for itself every year. The reason for this is that the warranty will probably be right about $500 a year. If your plumbing goes bad and you have to make a large repair that costs $1,000 even with a $50 service fee you will have saved $450 just on that one service call! You really can’t beat that!