A home warranty is like a safety net for your home! It’s an optional service contract that helps cover the costs of repairing or replacing appliances or systems that might break down over time due to normal wear and tear. With a home warranty plan, you can relax knowing that unexpected home repairs won’t hit your wallet too hard—you’ll typically only have to pay a small service fee.
**Looking for the most affordable home warranty company?**
Select Home Warranty is a great option, as they promise to beat any competitor’s price, making their plans a fantastic deal!
**Should you get a home warranty plan?**
Absolutely! A home warranty can save you from paying the full price for potentially expensive repairs and replacements. House Method recommends home warranties for everyone—home buyers, especially first-timers, sellers, realtors, and even rental property owners can all benefit. Just keep in mind that if you have a brand-new house with a builder’s warranty or if your home is over 5,000 square feet, a home warranty might not be necessary.
**Curious about the cost of a one-year home warranty?**
Most plans range from $25 to $67 per month, but we think anything under $50 is a great value! If you’re looking for the best price, check out companies that offer custom coverage or build-your-own plans.
Take note that some providers do raise their prices each year, which can be frustrating, especially as the demand for home warranties grows. It’s worth asking if you can lock in a price when you sign up. Some companies will even guarantee your rate if you opt for a three- or five-year plan. While this requires a larger upfront payment, you can usually cancel anytime and receive a refund for any unused time. Just remember to ask about cancellation policies and fees—they can range from $50 to $75.
**So, who pays for a home warranty?**
Home buyers and sellers, realtors, and rental property owners can all enjoy the benefits of a home warranty. If home buyers want coverage after closing, they’ll typically pay for their plan; however, it’s pretty common for sellers to cover the cost of a one-year home warranty as part of the home sale to sweeten the deal!
Real estate agents sometimes pitch in for a home warranty to help sellers cover any potential repairs while the house is on the market. They might also offer a home warranty to their buyers as a thoughtful thank-you gift to ease any worries. And for rental property owners, it’s easy to factor the cost of a home warranty right into the monthly rent for tenants.
Overall, a home warranty can bring a lot of peace of mind for homeowners, so it’s worth considering!