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Home Warranties

– Are you questioning if a home warranty protection plan is for you? Well, you’re not alone. Many home buyers and sellers wonder if a home warranty is money well spent or just money spent with no return. Basically, it’s a one-year service contract that begins on the date of closing which covers certain home appliances and systems that may break down over time.

Benefiting Both The Buyer And Seller In A Real Estate Transaction

Sellers should consider a report by The Los Angeles Times, which showed that homes that came with warranties sold 11 days faster than homes without an offer of a home warranty. Furthermore, the average price was $2,300 higher than those that didn’t include a warranty with the purchase.

As a seller, a warranty can act as an effective marketing tool that provides buyers with additional confidence in their  oven repair los angeles purchase. Home protection plans appeal to everyone, but first time buyers especially. No one wants just to get settled into a home to find that they have to shell out a large sum of money to fix an appliance. Whether it’s an oven, water heater or another type of appliance or home component, a home warranty can protect against costly repairs that the homeowner would otherwise by liable for.

What A Home Warranty Covers

When you purchase an existing home, it doesn’t come with any warranty. Whereas, some newly built homes come with a one-year warranty on systems and appliances. Homeowners insurance covers the contents of your home as well as the house itself, in case of theft, fire or other damage. But, it won’t protect you if your refrigerator quits. That’s where a house warranty comes in. The vast majority of home warranty companies offer 24/7 customer service assistance. A basic warranty averages between $350 to $500 with additional fees for extra warranty protection.

In shopping for a warranty, you will find that the warranties vary from company to company. However, most companies cover the following items:

• Water heater

• Sump pump

• Garbage disposal

• Kitchen appliances (dishwasher, built-in microwave and oven)

• Plumbing

• Heating and electrical system components

• Exhaust fans and ceiling fans

Additional warranty coverage can be added for your refrigerator, air conditioning system, garage door remote, washer and dryer, swimming pool and/or septic system.

Let’s review typical costs when repairing or replacing home appliances:

• An oven/range can cost on average $114 to repair or $782 to replace

• A heating unit can cost an average of $390 to repair or $2,885 to replace

• The main electrical panel costs an average of $311 to repair or $605 to replace

 

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