Things You Need To Know About Home Warranties When Selling A House | Planning Tank

Selling a house can be a complex process, and one important aspect to consider is home warranties. A home warranty is a protection plan that covers major repairs and replacements for your home's systems and appliances.

What does a home warranty cover?

• Plumbing: Fixing leaks and unclogging drains
• Electrical: Repairing damaged outlets, switches, and wiring
• HVAC: Replacing or repairing heating, ventilation, and air conditioning units
• Appliances: Covering issues with major appliances like refrigerators, dishwashers, and washing machines

How much does a home warranty cost?

The cost of a home warranty varies depending on the provider, coverage level, and length of the policy. On average, you can expect to pay between $300-$1,000 per year for a basic warranty.

What's covered under a home warranty?

• Major repairs: Leaks, water damage, electrical issues, etc.
• Replacements: Replacing appliances and systems that are no longer functioning properly
• Extended warranties: Additional coverage beyond the standard warranty period

When to choose a home warranty:

1. If you're purchasing a new home or refinancing an existing one
2. If you're experiencing frequent or extensive repairs and replacements
3. If you want added peace of mind and financial protection for your investment

Conclusion:

Selling a house can be a complex process, but understanding the importance of home warranties can help you make informed decisions. By investing in a home warranty, you can protect yourself from costly repairs and replacements, and enjoy peace of mind while selling your property.

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