16 Jul What are the benefits of a home warranty?
What are the benefits of a home warranty?
Home warranties have become even more popular with buyers. This is due to a few reasons. First, if it was a multiple offer situation and the buyer did not do an inspection a home warranty gives them some peace of mind, Second, it protects the buyer from unseen expenses for a year on many items. Third, if the item is near the end, it might be timely to have that protection.
Types of home warranty.
I am just going to talk about one company today – American Home Shield. It can be purchased by the seller or buyer. It can be used for single family, townhome/condo, and new construction. You have a$100.00 deductible, if they cannot fix it then they replace it and they have some additional coverages for items like a swimming pool.
What are the different levels of coverage?
There are three different levels. A basic one that covers items like AC, HVAC, plumbing, water heaters. The nest level up that adds coverage to things like appliances. And lastly the highest level that adds items like garage door openers, ceiling fans, doorbells and house fans and exhaust.
How much is a home warranty?
For a single-family home, the basic coverage for a year is $525.00. The next level up is $750.00, and the most comprehensive coverage is $850.00.
Maybe, it depends on the house, the condition of the systems, if you had an inspection and if you want no unexpected expenses the first year of ownership. It is worth talking about.
If you have any questions about this warranty program…do not hesitate to contact me.
I hope this blog on “what are the benefits of a home warranty” was helpful.
Look for more articles and videos in the future on different aspects of real estate and our state of Minnesota.
Real estate is a wonderful investment!
The Anderson Team