For today’s guest post on buying a home warranty, please welcome Dividend Power.
The last two houses that we bought were older ones. The first house we bought was built in the 1980s and the second one in the 1990s. Both were good houses and well built. Older houses are also in more mature neighborhoods making them more attractive. However, there are often concerns about aging appliances, roofs, plumbing, electrical, and other systems when buying an older house. In addition, the cost of repairs or replacement can run into hundreds or thousands of dollars. As a buyer, you can often get the seller to include a home warranty for the first year as part of the deal. However, what about the second year, or suppose you have been in a house for a decade? Is it worth buying a home warranty in that case?
What is a Home Warranty?
A home warranty is typically bought at the time of a home purchase. It provides a warranty on major appliances along with plumbing, heating, and electrical systems, and roofing. Major appliances include furnace, air conditioner, water heater, dishwasher, oven, stove, garbage disposal, and garage door opener. Other appliances can be included on an optional basis. A home warranty is valuable if the home purchased is old and has old appliances or systems. In general, a home warranty will cover the service and repair of major appliances and systems. A home warranty may also cover replacements of major appliances.Continue reading“Is It Worth Buying a Home Warranty?”