Did you know that just over 1 million claims are filed each year because a major appliance in a home breaks? Hence, why having a GOOD Home Warranty should be on your list. However, like most things, not all Home Warranty’s are created equal!
Did you know that statistically something is gonna break in the first six months or so of owning your new home? This is true whether it’s a rehab or whether it’s an existing sale or a new construction, something’s gonna break.
There’s a thing called Home Warranties. Some people say they’re a waste of money. It really depends on the quality of the insurance product that you’re looking at. I’m a fan of getting a good home warranty because it gives you that peace of mind. And another way to look at it is if you’re buying an existing home that has a few of the major appliances that are expensive, that are a little bit on the older side, there’s a good chance that they’re gonna break over the next few years. In that case, maybe get a home warranty and then keep it up.
That’s in fact what I did in my own house, we got a home warranty because we have two heat pumps and statistically one of those two were gonna break. It cost me about $600 out of pocket per year for my home warranty. I figure over 10 years one of them is definitely gonna break, if not both, that would more than pay for one of those units. And sure enough last year it did and I got a new unit.
Again, I’m not saying that all home warranties are great, but I will say it gives you that solid peace of mind and I would highly encourage you to explore that with your agent.
Have you ever had a major appliance break after moving in to your new home? Odds are, YES! What broke and how soon after you moved in? Let me know in the comments below!