The flourishing second home market has been a bright spot in a softer high-end real estate space. Intent to purchase is high, buyers are younger, and the drive to own a second (or third or fourth)
Consider this before you buy a home warranty!
If you just bought a house or have owned it for a while can you afford to replace your appliances? Many refrigerators cost over $1,000 and certainly, the HVAC system is more than that. What about septic or replacing all your galvanized pipe after pin-hoe leaks. Ah, the joys of homeownership. Should you leverage yourself with a home warranty?
Many of our Brilliant Team customers have had good and bad experiences. I think it depends on the home warranty company and the plan chosen. We had one home buyer that got his pool system repaired and HVAC replaced after it malfunctioned a month after purchase. A home warranty is insurance and most policies will not cover a problem identified by a home inspector during the option period.
Did you know that if you are a seller you can provide a home warranty to your buyer? This can be a good incentive for the buyer on an older home. After all, what could go wrong? Also, some companies also offer coverage to the seller during the listing period for free.
If you have a house and want a warranty can you get one? Yes, but the policy does not want to pay for pre-existing conditions. There is usually a waiting period before the policy will pay a claim and here some companies may try to prove the problem existed before you bought the policy. Consider getting a home inspection from a licensed independent inspector before you buy the policy, it may be worth it.
I am not an insurance agent I am a Realtor. But I can share information to you so you can make an informed decision. Feel free to reach out.
Dwight Shotgun Cook
Brilliant Team brokered by eXp Realty
BRILLIANT Real Estate Team, Technology Driven but Customer Focused. Let's Talk!....