Do you know the pros and cons of having a home warranty? It’s common for sellers to offer home warranties on their properties, and buyers might find it an incentive. But a growing number of owners of Fairfax, VA real estate and Vienna, VA real estate are purchasing home warranties without even being in a real estate transaction. Some have seen that the home warranty service agreement can limit the unexpected expenses of repairs and replacements of the home you intend to live in for awhile.
A home warranty protection plan is a renewable service contract that covers the repair or replacement of many of the components in a home. Some Northern Virginia homeowners especially like the convenience that it organizes a qualified service provider as well as the often reduced cost of the items.
There are several companies that offer home warranties and the coverage may vary, but the majority of plans will include heating, air conditioning, most built-in and some free-standing appliances, as well as other specific items. You may be able to add on specific coverage for other things like pool and spa equipment.
Many investors are even placing this coverage on their rental properties to limit and budget the amount of maintenance repairs they have throughout the year. It is a practical alternative to managing the financial risk and the stress dealing with unexpected rental expenses.
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