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Home warranties provide homeowners with protection from the high costs of repairs. By paying a small premium and deductible, homeowners can get their home systems fixed or replaced without draining emergency funds.
Home warranties can be helpful for new buyers who may have limited knowledge about the history and condition of a property's systems and appliances, but they also carry certain drawbacks.
Peace of Mind
Home warranties provide peace of mind for homeowners with older systems and appliances that are more likely to malfunction, or for people who'd rather put off incurring repair bills by paying an annual premium for coverage instead of setting aside money themselves.
Home warranty companies generally form relationships with local repair professionals as one method of keeping costs low for their clients, which can be an attractive feature to homeowners who otherwise feel at the mercy of uncertain insurance coverage for repairs that need doing. This often makes home warranty policies the safer choice than going it alone with repairs themselves.
Peace of mind provided by having a home warranty can be an attractive feature to potential homebuyers, particularly when they're selling. Some home warranty providers even offer free seller coverage during the listing period to entice potential buyers. This can save sellers both time and effort while potentially preventing their sale being postponed or even cancelled because of system or appliance breakdown.
Easily Get Technicians to Your Home
Most things we purchase come with warranties in case something breaks, from cars and smartphones to home warranties that cover appliances and systems in our home. A warranty provides peace of mind while simultaneously saving money if you don't know how to fix things yourself.
Before selecting a company offering Virginia home warranty contracts, it's essential to do your homework. A good place to start would be the Better Business Bureau website and customer reviews as an indicator of good business practices from home warranty companies. Furthermore, make sure your emergency fund covers repairs due to storms or acts of nature as home warranties don't cover this type of expense; and plan may only include coverage of certain appliances such as fridges and stoves.
Save Money
Home warranties provide peace of mind against unexpected repairs costs. They're an ideal solution for people who don't want their emergency savings account depleted for unexpected repair bills and who want to plan for when something breaks or needs replacing.
Many homeowners take comfort knowing their appliances and systems will be covered in case of breakdown or wear and tear, for a small annual premium and service call fee. When considering the alternative of paying thousands out-of-pocket for repair bills, home warranties may prove well worth their cost.
However, some may prefer not having to choose from an limited list of contractors when their appliances or systems malfunction, preferring instead to handle this process themselves. Still, home warranty companies offer affordable plans which could save money in the long run by purchasing one today.
Increase Home Value
Home warranties provide homebuyers with peace of mind that the system and appliances in their new home are covered. Home warranties help homeowners avoid unexpected expenses while giving them peace of mind knowing they won't need to dip into their emergency fund to pay for appliance repairs or system breakdowns.
Home systems and appliances are key components in increasing the overall value of a home, yet over time may experience wear and tear that needs repair or replacement. A home warranty company provides affordable coverage to cover repairs or replacement costs so as to maintain the value of your property.
However, it is essential that you conduct proper research in order to select a quality home warranty company with reliable contractors and outstanding customer service. Some providers offer plans covering systems and appliances, as well as optional add-ons that sellers could include as an incentive when closing packages are created; it would be wise to discuss this option with your real estate agent beforehand.