Are Home Warranties Worth It?
One of the tools in our agent toolbox is having the seller buy a home warranty for the buyer. Sometimes these small policies can help get a deal over the line or differentiate your listing from another similar one in the neighborhood.
However, are these home warranty products worth it to the buyer?
A home warranty plan protects from unexpected house repairs. Although plans vary, they frequently cover appliances, plumbing issues, ductwork, and other home items. Plans can cover a broken ceiling fan or a doorbell that stops working.
Consider these benefits:
- Peace of mind. A home warranty plan can save you a significant amount of money if an item is broken in your house.
- These plans offer protection for various emergencies, so you don’t have to worry about the expenses. Homeowners can avoid extra loans or debts by having a home warranty plan.
- The additional coverage from these plans can help you avoid more significant financial issues.
- Buyers prefer home warranties. If you plan to sell your home, buyers are more likely to consider it if you have a home warranty plan. Such a plan is an attractive amenity.
- Combine multiple issues for one home service fee. If you can combine multiple home repairs into one call, you can save money on the service fees.
- Home warranty plans have small service fees each time you call for help and a worker comes to your house. Combining multiple issues into one call allows you to get all the repairs done for one fee.
Home warranty plans can vary, but several benefits to having them. They can help you cover unexpected repairs and broken items in the house.
Avoid The Critical Financial Mistakes Made By Real Estate Pros
Failing in the financial basics will doom your business. Get our free e-book "The Real Estate Pro's Guide to Financial Success" to see if you are set up for success.