When considering new construction, many potential buyers wonder, "How does a home warranty work?" Either a builder or a separate home warranty company can provide special coverage for specific parts of your new home, similar to the protection offered by insurance.
Here are some of the most important questions and answers about home warranty companies and contracts:
Home warranties are different from homeowners insurance, which protects the property against fires, hail and other serious hazards. Instead, a home warranty covers appliances such as washing machines and dryers, refrigerators and HVAC systems.
When you have a home warranty, you're covered if and when a covered system breaks down. Home warranties provide a guarantee of repairs to your household's appliances or systems as long as the damage occurred as a result of normal use.
The cost of an annual home warranty can vary depending on many factors such as size, features and condition of the home. The cost typically isn't affected by property age, except for newly constructed buildings, which increase costs.
Home warranties are available for owners of other property types as well. Separate structures like hotel rooms or individual apartment units are generally not covered by standard plans, but can be covered at extra costs.
For a homeowner with fewer emergency funds who want to make them available for other purposes, home warranties can act as buffers for the homeowner. A home warranty is also useful for homeowners who have less time or interest in DIY repairs and want to have close contact with the professionals.
Is a home warranty right for you? Often, the benefits greatly outweigh the disadvantages. However, it's important to clarify any details of the warranty service contract for full understanding how it affects your covered appliances and systems.
Darin, is a 26 year, experienced broker associate with 13 years in the RE/MAX system and who is native to the Daytona Beach area. Knowing our real estate market and solving problems in advance are just of a few of the assets he brings to the table while working with buyers and sellers. He and his team are committed to providing the best results and personal service in the industry. They carefully ascertain the client's real estate goals and work hard to create solutions that make sense for them. Whether the client is new to the market or an experienced investor, they have the expertise, proven track record, with resources to help real estate customers achieve their goals. 100% Club in 2016, 2017, 2018, 2019, 2020, 2021 and 2022. Darin also became an esteemed member to RE/MAX Hall of Fame in 2020.
EPRO, ABR (Accredited Buyer's Representative), RENE (Real Estate Negotiation Expert)
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