Why do we recommend that every home buyer or seller gets a home warranty? Here are the benefits that warranties provide.
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Whether you are a home buyer or a seller, one thing that we always think is a good idea to include in your real estate transaction is a home warranty.
What is a home warranty? It’s an agreement with a warranty provider to cover the mechanical systems and moving parts of your home for a period of time. Warranties usually last up to one year after the closing.
How do home warranties benefit buyers? The biggest benefit is that it significantly reduces the potential for large, out-of-pocket expenses after the home purchase. When we consider everything that is included in the home—appliances, the HVAC, electrical systems, and plumbing to name a few—the peace of mind that comes from knowing that a provider will cover any issues is critically important.
How does a home warranty work? Whenever you experience an issue during that warranty coverage period, you’ll contact the warranty provider rather than your local plumber or handyman. They will connect you with one of their preferred providers and come out to look at the home. There will be a service charge up front, which you will know when you have the warranty coverage in place. They will then repair the item, and if they’re not able to do so, then they will replace it for you.
Warranties usually last up to one year after the closing.
How does a home warranty benefit sellers? Most warranty providers provide free listing coverage during the time that your home is on the market. It is also a wonderful way to eliminate your liability after the closing in the event that anything goes wrong for that buyer.
Our personal warranty provider is HWA Warranty. They have an awesome platinum warranty that covers the home for 13 months, rather than the 12 months covered by most providers. We have had a lot of success with it and think that it is well worth the cost to provide our buyers with peace of mind after they have purchased their largest investment.
If you have any other questions about how a home warranty can benefit you or anything else related to real estate in Central Iowa, feel free to give me a call or send me an email. I’d be happy to help you!
