WARRANTIES ON RESALE HOMES
After closing and claiming the keys, having a home warranty in place allows buyers to move in with confidence, knowing that their appliances and the other major mechanical tickings of the home are covered. A basic service contract will pay for the repair or replacement of the dishwasher, oven, range, garage door opener, water heater, disposal, wiring, plumbing and HVAC systems. There are numerous licensed providers of home warranties, and we encourage you to shop around or begin your research here.
WARRANTIES ON NEW CONSTRUCTION HOMES
When it comes to newly constructed homes, builders typically provide their own warranties. New home contracts generally include one-year coverage for the builder’s workmanship and two years for repairs and replacement of failing components such as such as windows, heating, ventilation, doors and trim, air conditioning, electrical systems and plumbing. More often than not, the builder will also offer 10-year coverage for “major structural defects”, for example, if a main beam in your living room is threatening to collapse seven years down the road. Some buyers also buy additional coverage from a third party after they review the basic warranty and discover that some home components are not covered by the builder’s warranty.
HOME WARRANTIES BENEFIT BOTH BUYERS AND SELLERS
For buyers, the benefits of a warranty are realized when an unexpected break down happens in the home. If your AC putters to a stop or your dishwasher dies, a quick call to your warranty provider will have the item repaired or a new one installed. If you’re unsure whether an item is covered, check with your warranty provider before arranging for repairs. Instead of out-of-pocket, costly replacements – which you probably won’t appreciate after just buying a home – you’ll only pay a small service fee as stipulated in your warranty agreement.
For sellers, a warranty protects you in the event of something breaking down in the home post close. If the warranty is in place, buyers refer directly to their provider to handle – and most importantly, to pay for – the issue. Some warranty companies also give sellers the option to purchase a home warranty when they list their home. Having this kind of warranty in place protects sellers when potential problems with a covered item are discovered during the home inspection. Your Realtor can help you decide which warranty is right for you during the sale of your home.
When it comes to giving you peace of mind concerning your new purchase, Sands Realty encourages you to find the right warranty coverage. We’d like to work with you to make sure you’re ready for the unexpected and that you’re ultimately happy in your new home.
WANT TO LEARN MORE?
For immediate assistance, contact your Reilly Realtors agent. Alternatively, complete the contact form and a buyer specialist will be in touch with you within 24 hours. We look forward to hearing from you!