Having a home comes with many responsibilities. Sometimes, pressing needs can arise. It might be to repair some home features or to replace them altogether. These situations are bound to occur and can be parasitic on the homeowner's budget.
A home warranty is a program that provides a budget to cover any unforeseen expense in the home. It offers protection on repairs that, typically, are costly.
Home warranty and home insurance—often used interchangeably—is incorrect because there are a couple of glaring differences. While getting your home insured involves specific considerations as the location of the house and the building materials, a home warranty offers funds for costly repairs. Also, home warranty only covers the cost of fixing major appliances and systems as they age. But home insurance is meant to stand by financially in events of unforeseen damages.
Benefits of a home warranty
Home warranty plans come with many benefits to save homeowners the stress of having to source funds suddenly. Here are the crucial reasons why you should get a home warranty.
A home warranty covers costly repairs
Every homeowner has a budget detailing how much they will spend on certain things. In most cases, the chances are high that provision is not available for sudden repairs. What then happens when an urgent need pops up?
With a good home warranty, you don't have to worry about faults in your home that require immediate attention. Enough funds will be disbursed to get a quick fix and keep your home in good shape.
With a home sale, it assures the buyer of a safe deal
When you put up your home for sale, potential buyers consider certain factors. Usually, homes are refurbished to increase their value before they are listed, but things requiring urgent attention can emerge at any time. If you have a home warranty in place, you assure the buyer they have nothing to worry about if such situations occur.
Real estate listings with home warranties are more attractive to buyers
Potential buyers keep an eye out for deals that will save them unnecessary costs after the transaction. This reason is why a home with a home warranty will be a hot commodity in the real estate market.
Homes with home warranties usually sell faster and closer to the asking price
Home warranties give your home value a deserved boost. This attracts buyers to your listing. Any interested buyer will want to get that great home with the warranty before anyone does and so will have less chance trying to bargain the listing price.
These benefits above are realistic and attainable. You just need to find a good, affordable warranty plan.
