Managing a budget is one of the top priorities for most homeowners, especially these days. In times of economic down turns, it’s best to be covered by a home warranty. You never know when costs will increase for repair or replacement of your systems and appliances.
One such crucial thing to invest in is a home warranty. A home warranty plays a significant role in helping you stay prepared for the unpredictable.
What Are Home Warranties?
This is a home warranty that will protect you from the high-cost repairs of your major home systems and appliances. It is a plan that covers things like HVAC systems, ductwork, dishwashers, and refrigerators to name a few.
How Is A Home Warranty Different From A Home Insurance?
Home insurance generally covers any home you buy. However, policies provide coverage in instances of theft, fire, and weather just to highlight a few.
On the other hand, home warranties cover things like plumbing line clogs, leaking pipes , and heating and cooling system breakdowns. In general, a home warranty covers your home’s crucial system and appliances depending on the type of plan you purchase.
What Are The Benefits Of Having A Home Warranty?
1. Added Home Value
When selling your home, a home warranty can play an important role. It helps a buyer see that a home is covered with a home warranty since they will not know the condition of the systems or the appliances when they move into the home.
Buyers will feel comfortable that they will not have to spend an exorbitant amount of money to make repairs or replacements. This can help persuade a potential buyer to purchase the home.
2. Reduced Emergency Fund Needs
Just like other warranties, home warranties are bound to cover some of the most critical appliances in your home. Some of those appliances may be expensive to repair when damaged. Having a home warranty is a good way to save money and stay prepared for unexpected repair costs.
Picture this; you have bought an expensive appliance, and a few months later, it is damaged due to normal wear and tear and you are not in a position to repair it at the moment. You were not planning to make any replacements either. When you have a home warranty, you can get help on these repair costs.
Investing in a home warranty allows you to have peace of mind knowing that if any unexpected repairs or breakdowns are coming your way, it wouldn’t put a dent in your regular household budget. Considering the points put forth in the above article, you can be assured that the sooner you purchase a home warranty plan that fits your needs, the better prepared you are as a homeowner.