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they're fairly cheap. My realtor says a one year plan costs around $400. so...why not? I don't know how much peace of mind it really gives anyone. But at least its there if you need it.
(btw, I'm asking for the seller to purchase our warranty. I know it feels different if that $400 comes out of your own pocket...)
It's like insurance, no one ever expects to use it but they sure are happy they have it if something goes wrong. It costs about $400 per year, depending on upgrades which would pay for itselfif even something relatively small like the water heater goes out. Only you can determine if it is worth it to YOU, but I like the added security of having it.
I always recommend that if the seller is paying for it, you should get it. If the seller isn't paying for it, then it's your option. Let your home inspection be your guide. If the water heater is fairly new, AC/Heating system is fairly new, appliances are in good shape, then maybe you don't need it.
I recommend to my clients that they begin budgeting for replacements of big ticket items as soon as they settle so that the warranty isn't needed for year 2.
Actually, if the seller is already offering the warranty as part of the contract then have him call to get those broken items repaired. It might be covered.
mina, who are you using for your home warranty?
I have mixed feelings about the warranty. Before you buy, read the contract very carefully! I have had clients who got hosed because of little fine print loopholes. A lot of the time they would rather repair rather than replace when replacement seems like the better option.
Check it out and ask questions!
There are two home warranty companies that they use here in our office, AHS and Old Republic. I think they are pretty cheep for what they will cover. Couple hundred bucks that can save you thousands, especially on AC and higher ticket items.
INT, that's less than $35.00 a month for one year! Not much for some peace of mind, don't you think?
I always recommed it for at least the first year and any property that is not brand new.
YES without a doubt the price usually out weights the cost (usually roughly $375) and if you’re really smart negotiate to get the seller to throw it in with the deal. That’s what I always do for my buyer's, no seller in this market (for the most part) is going to wreck a deal over a $375 home warranty.
Yes it is always a good idea to get a home warranty. It will give give you peace of mind for the first year you are in the house. The cost is minimal and it can save you should a refrigerator go out or anything like that.
Yes!!! Please get a home warranty. This just may save you from any unforeseen problems. There may be problems under the surface that will probably come up as you start to renovate and recondition the home.
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Should I buy a Home Warranty?
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I am in escrow on a REO and the bank will not be including a home warranty. I have already done my inspections and everything big is in good working order. I have heard a lot of bad things about home warranty companies but was still planning to buy a home warranty. The house has central heating, a dishwasher, a broken, needing to be replaced microwave, no refrigerator, and two of the burners of the stove aren't working properly. I plan on buying a fridge, a microwave, and repairing the stove. Ac is plumbed but there is no unit.
So what are your thoughts? Should I buy a home warranty?
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