Why Should You Consider Getting a Home Warranty?

Colorado Springs Real Estate Podcast with Patrick Collins

Home warranties are beneficial to buyers, sellers, and homeowners. Here’s how.

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The U.S. News & World Report states that every year, homeowners spend 1% to 4% of their home’s value on repairs and replacements. How can you alleviate some of those costs and concerns?

Get a home warranty!

Home warranties are great for sellers that are looking to sell their house faster, for buyers who are lacking confidence in a home they want to purchase, and for homeowners that have owned their home for a long time but want an extra layer of protection.

If you’re a buyer and you want to make sure the home you’re about to purchase is safe, getting a home warranty will protect you from any and all mechanical problems that could go wrong, even after closing.

If you’re a seller, the psychology of selling your house is the most important thing. When a buyer comes through your house, they want to feel safe and protected. When they leave one of your showings, you want to make sure they have the least amount of questions in their head so they’re more apt to write an offer. Having a home warranty will provide that conscious and subconscious belief that you’re taking care of them and that they’re protected in the transaction.

A home warranty can save you thousands of dollars over time.

For all homeowners, having a home warranty can save you a lot of money. A furnace could go out, for example, and cost you $3,000 to $4,000 to replace. A home warranty, by comparison, costs only $300 to $400 a year. You could have a home warranty for 10 years and, over that time, if you replace the furnace just once, you’ll pay for the cost of the home warranty. This can include many other mechanical items that the home warranty could be used for besides the furnace, too.

If you have any questions about this or any other topic, please feel free to give us a call or send us an email. We look forward to talking with you!