A home warranty is said to be an added protection for your home. It covers your home’s systems, appliances, and even budget. The misconception, however, is that you can only purchase a home warranty through real estate transactions, which means that you need to buy a home to get a warranty. This, however, isn’t always the case as you can buy a home warranty anytime with any house.
In the following section, we’ll discuss what a home warranty entails, how it covers home, as well as who can buy this warranty. Keep on reading to learn more.
Home warranty in a nutshell
A home warranty plan is an individual contract that covers repairs and replacements in your home.
For many standard home warranty plans, the coverage includes the parts and components of a home’s electrical, plumbing, heating, air conditioning systems, and many other home appliances. Some plans only cover the main appliances in a home, such as an oven, dishwasher, or fridge, while others have additional coverage for the pool and roofing systems.
That said, to give you peace of mind, it’s best to look for a home warranty plan that works for you, your home, and your budget.
- Older home: Buying an old home entails being responsible for all the maintenance the former owner has or hasn’t done. Since it’s an old home, the systems and appliances may fail from time to time and may even reach the end of their life span. For this reason, it’s practical for you to purchase a home warranty so that you can protect the systems and appliances in your home when they will eventually fail in time.
- New construction home: It is likely that there is a builders’ warranty on the property when you buy a newly constructed home, given the brand new systems and appliances. However, they are still bound to fail over time. That said, purchasing a new construction contract can ensure that the coverage continues past the builders’ warranty terms.
People who buy a home warranty
When it comes to buying a home warranty, this isn’t necessarily confined to home buyers alone. Many people have the right to purchase a home warranty, such as the following:
- Seller: A seller purchases a home warranty for their prospective buyer. In fact, buying a home warranty for the buyer is a selling point for the property.
- Buyer: A buyer is more likely to avail of a home warranty to add a layer of protection when buying a new home.
- Current homeowner: Those who are current homeowners may eventually decide to purchase a home warranty. This is particularly the case when homeowners see that their appliances and systems are starting to wear off and might inevitably fail.
- Real estate agent: A real estate agent can buy a home warranty as a special gift for new home buyers. A seller’s agent can also purchase a warranty to provide protection during the sale of the property.
- Title company: A title company can use the funds included in the home’s sale contract to purchase the home warranty.
At this point, you now realize the importance of having a home warranty, whether you are a home buyer, seller, existing homeowner, real estate agent, or a title company. Consider all the valuable information discussed above and see how you can take advantage of a home warranty.
If you are looking to get home warranty in Las Vegas, get in touch with us today to see how we can help.
