Sweeten the Deal With a Home Warranty

Homebuyers, especially first-time homebuyers, have a lot on their minds; not the least of which are nagging worries about potential repair costs on a newly bought property. Consider including in the sale a comprehensive home warranty protection plan, it may make your home a more attractive investment and help alleviate some of the homebuyer’s anxieties.

A typical home warranty is a one-year service contract that, for a fee, covers the costs of the repair or replacement of major home systems e.g., plumbing, heating and cooling units, or other appliances that may break down due to normal wear and tear. The basic warranty typically ranges in price from $300 to $500 and can be extended to include coverage for amenities like a pool, major structures or systems such as the roof, private wells or septic systems. Typical service-call fees for repair range in price from $35 to $50.

Including a home warranty protection plan in the sale also can benefit the home seller by helping to minimize conflict or haggling over the condition of older appliances or systems. Should a covered appliance or system suffer a post-sale breakdown, the home seller may be less likely to hear about it. The protection plans also can provide the home seller with some limited coverage during the listing period. Check with your Realtor to learn more about home warranty programs and whether including a warranty in your home sale is right for you.