Owning a home is a dream for many, but it also comes with its own set of responsibilities. One of the most important things to consider is how to protect your investment from unexpected repairs. That’s where a home warranty comes in.
A home warranty is a service contract that helps cover the cost of repairs or replacements for major home systems and appliances. If something breaks down, you simply call your warranty provider and they’ll send a qualified technician to fix the problem.
Why is 2024 the perfect time to get a home warranty?
There are several reasons why getting a home warranty in 2024 is a smart decision:
- Rising repair costs: The cost of repairing major home systems and appliances is on the rise. According to HomeAdvisor, the average cost of a home repair in 2023 was $336. With a home warranty, you’ll be protected from these unexpected expenses.
- Aging appliances and systems: The average lifespan of most major appliances is between 10 and 15 years. If your home is older than that, you’re at risk of having a major appliance break down soon. A home warranty can help you avoid the headache and expense of replacing a broken appliance.
- Peace of mind: Knowing that you’re covered for unexpected repairs can give you peace of mind. You won’t have to worry about budgeting for a major repair or going into debt to fix something that breaks.
What does a home warranty cover?
Home warranty coverage varies depending on the provider and the plan you choose. However, most plans cover major systems such as:
- Heating and air conditioning
- Plumbing
- Electrical
- Appliances (refrigerator, dishwasher, range, etc.)
Some plans also cover additional items such as pools, spas, and septic systems.
How much does a home warranty cost?
The cost of a home warranty plan varies depending on the coverage you choose, the size of your home, and your location. However, you can expect to pay between $300 and $700 per year.
Is a home warranty right for you?
A home warranty can be a valuable investment for any homeowner. However, it’s important to consider your individual needs and budget before deciding if it’s right for you. Here are a few things to think about:
- The age of your home and appliances
- Your budget
- Your DIY skills
- Your risk tolerance
If you’re on the fence, it’s always a good idea to get quotes from a few different home warranty providers before making a decision.
Tips for choosing a home warranty provider
When choosing a home warranty provider, it’s important to do your research. Here are a few tips:
- Read reviews from other homeowners
- Compare coverage and prices from different providers
- Make sure the provider is licensed and bonded
- Ask about the provider’s claims process
Getting a home warranty is a smart decision for any homeowner who wants to protect their investment from unexpected repairs. With the rising cost of repairs and the aging of appliances and systems, a home warranty can give you peace of mind and save you money in the long run.
In addition to the reasons mentioned above, here are a few other benefits of getting a home warranty:
- Convenience: A home warranty can save you time and hassle by dealing with repairs for you.
- Protection from hidden defects: A home warranty can help protect you from the cost of repairing hidden defects that you may not have been aware of when you bought your home.
- Increased resale value: A home with a home warranty can be more attractive to buyers.
If you’re still not sure whether a home warranty is right for you, talk to a qualified home warranty provider. They can help you assess your needs and choose the right plan for your home.
Additional resources:
- The National Home Warranty Association: https://www.nhwa.org/
- The American Home Shield: https://www.ahs.com/
- Choice Home Warranty: https://www.choicehomewarranty.com/
We would also like to add that it is important to read the fine print of any home warranty contract before you sign up. Make sure you understand what is and is not covered, as well as any deductibles or limitations that may apply.
With a little research, you can find a home warranty that meets your needs and budget. And once you have one in place, you can