If you’re looking to buy or sell your home, or even if you’re the top realtor in Las Vegas, it’s always good to brush up on important real estate processes.
Home warranties are contracts between a homeowner and a home warranty company that offers coverage for issues with certain appliances or items in your home, such as dishwashers, furnaces, etc.
Although home warranties appear like a good deal, are they worth it in the long run?
Of course, this depends on the statements of your contract. However, we offer you a few pros and cons that will hopefully help you:
Pros to a Home Warranty:
Cons to a Home Warranty:
- If you’re thrifty, especially when you’ve just spent your savings.
- If you want to avoid liability, especially for home sellers.
- If you want peace of mind, especially for home buyers.
- If you don’t want to find your own contractor, the company will find one for you.
- Disputes over what is covered, what constitutes proper maintenance, or when a complaint should be approved.
- Irreversible damages by the previous homeowner that you’re stuck with.
- Possible long stretches of time when nothing breaks down but you still pay for coverage.
- Lack of freedom to hire your own contractor or to choose the model/brand of the replacement.
Those looking to buy or sell their home would behoove from familiarizing themselves with these aspects of home warranties in order to make informed decisions about this important and beneficial aspect of real estate.
Want to learn more from someone on Our Team? Feel free to Contact Us. We're happy to help.