06/30/2024
🏠🔧 A home warranty can provide peace of mind, especially if you're buying an older home with appliances and systems that may be nearing the end of their lifespan. These warranties generally cover the repair or replacement of major home systems and appliances like your HVAC, plumbing, electrical systems, and kitchen appliances.
However, keep in mind these considerations:
1️⃣ Cost: Home warranties typically cost between $300-$600 per year, plus service fees per repair. You'll have to decide if the cost is worth the potential benefits.
2️⃣ Coverage: Not everything is covered, and there may be limits on how much the warranty company will pay for repairs. Make sure you read and understand what's included and what's not.
3️⃣ Service: Some people find the convenience of a single point of contact for repairs beneficial, but remember, you won't have control over which contractors are sent to your home.
4️⃣ Home Inspection: An inspection can give you an idea of the condition of the appliances and systems in your home, which might influence your decision on a warranty.
In the end, the decision to buy a home warranty comes down to your comfort level with potential repair costs and your expectations for service. It's another tool in your toolbox as a homeowner, but it's not a one-size-fits-all solution.
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