What is home warranty? Do we really need to purchase one? This is one of the talk about issues whether you are selling or buying a house. Do we really need to get one? What are the benefits of having one? This blog will give you a clear idea on why it is very important to get one whether you are a buyer or a seller.
First, let us define home warranty. According to hmsnational.com, home warranty is ‘covers the repair or replacement of the most frequent occurring breakdowns of home systems and appliances. Well, it is like a protection. You would want your home systems and appliances to be insured when your air conditioner , dishwasher or microwave stops working. Just remember, buying a home is a big investment, and maintaining can be expensive.
Again, keep in mind that when you are buying or selling a home, a home warranty is an excellent investment. Don’t ever think that it is just an additional cost as it will really be useful in the future, more than you ever know. What are the benefits for sellers?
Make your home a preferred home. According to Gallup Poll, eight out of ten buyers prefer to buy a home covered by a home warranty plan. When a buyer just purchased a house, then suddenly he found out that the stove is not working, it would be a headache on the buyer’s end as he would need to shell out a big amount of money. Nobody wants that to happen.
You can attract first-time buyers. That’s right! First-time buyers would love to save a lot of money from high cost of repairing or replacing systems or appliances.
You can make your home stand out from other listings. Buyers would surely notice sellers who offer home warranty. A nice house and price are factors, but having a home warranty will make the buyers more interested with sellers got one.
There is no post-sale worries. As a seller, you may be able to sell the house to a potential buyer, but as a seller, you need to think about the future. Think of what will happen to the buyer if one of appliances becomes broken. The buyer will shed out a lot of money and it will be stressful on his or her end. Think not only about the money.
What about the benefits for the buyers and current homeowners?
You can save a lot of money. Like what they say, prevention is better than cure. Yes, you will shed out money on getting a home warranty, but it is much more expensive when some of the appliances needs to be replaced. Think about it.
Complete protection. Usually, home warranty companies provide complete service. They will repair or replace covered systems and appliances no matter the age, make or model. Cool isn’t it?
If you think about it, home warranty is beneficial for both buyers and sellers. It may not be beneficial at the time of purchase, but usually, in the future, it is very important especially if the appliances are too old already. Always think of home warranty as an investment.