When selling your home you want it to stand out amongst the other homes on the market. One way to attract buyers is to offer a home warranty for the first year. Studies show that 8 out of 10 home buyers prefer to buy a home covered under a warranty plan (Gallup Poll). A Home warranty provides peace of mind to home buyers, especially first time home buyers.
Home warranty companies typically offer a discount if you purchase a home warranty while the home is on the market, prior to closing. The older the home, the more attractive a home warranty is to buyers. When considering whether or not to purchase a home warranty, take into account the age of the home, the inspection report, as well as the cost of the warranty. Most home warranties range from $350-$500 with an added $100-$300 for extra protection.
Home Warranties typically cover the costs of repair or replacement for components and appliances such as plumbing, ceiling fans, garbage disposals, microwaves, diswhashers, etc. Make sure you read the fine print when purchasing a warranty. To cover appliances and components such as washers, dryers, refrigerators, and AC units, you may need to purchase the added protection. Shop around and ask your realtor for information on reputable home warranty companies.
Anthony Coleman, Realtor, Top Guns Real Estate