Of all the things you own, your home is most likely the most valuable. You make a significant investment when you buy a home. You also spend a lot of time and money taking care of it, so it affords the comforts and security you need. Maintenance and upkeep can be pricey, especially as your home ages and elements of it start to wear out.
If you feel overwhelmed by the prospect of spending hundreds or thousands of dollars fixing appliances and getting systems back on track, there is a way to alleviate your stress. With a home warranty, you can keep more of your hard-earned money but still properly service or replace your household items.
A home warranty typically comes with a brand-new house. After it expires a year later, that same protection goes with it. Newer homes may not need this coverage, but as your house ages, so will other aspects of it. If your home is decades old, it may be time to purchase home warranty protection for your home.
Breaking Down a Home Warranty
You should first understand that a home warranty is not the same as homeowners insurance. The latter protects your home against losses or damages if there is a catastrophic event such as fire, severe winds, or theft. With a home warranty, you have coverage when appliances and systems suffer wear and tear and no longer work properly or at all. You can also turn to a home warranty plan if something covered breaks down unexpectedly.
You don’t have to break your budget to buy a home warranty. You can typically find coverage for as little as $300 a year up to $700. Many companies will let you break up your payments into monthly obligations. When something falters and needs service, the warranty company will send a professional over to look at it and perform the necessary work to get it back into good order.
Be advised that a warranty won’t cover your appliances and systems in every situation. The items must be properly installed, and you must use them the right way. Deliberately breaking them, so you can have service is not allowed. There are also limits on how much the warranty will cover per item.
Appliances and Systems Could Be Near the End of Their Life Span
Living in an older home means that items such as the roof, plumbing, electrical system, and HVAC system could be living on borrowed time. It may have been a while since these areas saw much attention. In an older home, there is a good chance that appliances such as the stove, oven, dishwasher, and water heater have put in many years of hard work.
With older items, a serious problem may require more than just a few new parts and components. Making some tweaks here and there might not solve the problems. A technician might have to replace these items. Be prepared for these events by purchasing a home warranty.
A Home Warranty Tech Can Handle Any Appliance of Any Age
When something breaks down, it can be stressful to have to find a qualified professional to make the necessary repairs. A nice benefit of a home warranty is that the company will contract with a licensed professional to take care of everything. You won’t have to spend any time tracking down someone you know will do good work.
The warranty company’s technician will have experience working on a variety of appliances, including different models. Even if the item is on the older end, you can count on the service tech to make an accurate assessment and either repair it thoroughly or install a new model.
You’re Bound to Save Money
Older homes require a lot more work than newer ones. That shouldn’t be surprising, but just how much it would cost to fix or replace areas of your home might be eye-opening. What you think is a simple fix on a dishwasher might end up being $250. Replacing an appliance such as a fridge could run you more than $2,000. Overhauling the electrical, plumbing, or HVAC system could cost thousands or even numbers approaching $10,000.
If you don’t have this kind of cash available, what options do you have? It’s difficult to live without the conveniences of these appliances and systems. A home warranty enables you to repair these issues without spending anything out of your pocket beyond the service fee and annual warranty price.
Knowing you can save money to this extent should give you peace of mind. Now, you don’t have to stress out about how you will come up with $1,000 to fix that broken sewer line.
A home warranty makes sense for a lot of homeowners. It’s a good move, especially for those who own older homes. If this sounds like you, look into getting this coverage today.