What is a home warranty and do you need one? Most homes are sold with a one-year home warranty to help the new home owner with any little repairs that might come up involving their HVAC, appliances, garage door and other home systems. But, any home owner can buy a warranty policy!
Home warranties are service contracts that help you repair or replace home systems and appliances when they break down. Many homeowners find them handy. Some homeowners already “know a guy” who can fix things, or they are comfortable fixing things themselves. But some people prefer to make it easier on themselves and call one source for plumbing, air conditioning, the refrigerator even their pool filter.
You can purchase a home warranty for a lump sum per year, or on a monthly payment plan. When a covered item breaks, you call them and they send a repair person from a local service business that specializes in that particular system. You’ll typically pay a service fee for each visit, but it is going to be less than if you called that company in to fix something totally on your dime.
Most home warranties are structured to cover major systems like HVAC and plumbing, and then you can a la carte add items like appliances, a hot tub or pool, or a garage door opening system. These policies can give you more peace of mind in a new — or old — home and make planning home expenses easier.
