Learning The Benefits Of Sensible Home Warranty For Both Home Sellers And Buyers

1. If you want to sell a property or buy a new one, you might have encountered the words "home warranty". For individuals who do not know these terms, a home warranty is a contract made between a home owner and a home warranty company that permits the owner to get repair services or replacements for home items under the coverage. The contract involved here is somehow similar to home insurance in that the home owner can receive services for a certain fee. But, on the other hand, home insurance usually covers the entire house structure and a home warranty plan covers only appliances and some utility systems. Therefore, appliances like refrigerators, ovens, fans and also utilities like plumbing, and electrical wiring are all covered, but not structures like the roof and walls of the house.

While home warranty plans may seem limited in coverage, the truth is they are actually very helpful for new homeowners, particularly those who purchase houses with a few appliances included. There are various home warranty plans available across the country, and different companies offer different prices and levels of coverage. Generally, home warranty plans can be purchased for just a few hundred dollars, but do beware of plans that are too cheap or too expensive. Coverage can include only small items, such as microwave ovens and fans, but there are others that are far more extensive and may include all utilities and appliances left in the house.

Some people may wonder how home warranty plans can benefit both property vendors and buyers. For property vendors, the major advantage that comes with purchasing home warranty plans, is that this contract can significantly increase the appeal of the house to buyers. After all, it would be much easier to sell a home if you offer assistance on maintaining the utilities and appliances that come with it. Offering a home warranty plan with the purchase shows that the seller is a trustworthy person. As such, including a home warranty can speed up the whole selling process and the home can be sold in a short amount of time.

For home buyers, on the other hand, a home warranty plan offers great convenience in maintaining utilities and appliances. The additional assistance is very useful because new home owners tend to have little cash on hand to maintain their new homes and appliances after making such a big purchase. With a warranty plan in place, you can worry less about maintaining your new possessions and focus more on adjusting to your new life and home.

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