If you are looking for houses for sale, you may see a few listings that come with a home warranty. While a warranty can help you out in some ways, it shouldn’t be a compelling reason to choose a particular home over another. A home warranty can come in handy for both older and new homes, as long as you know how to get the most out of it. Use these techniques to maximize the benefits of a warranty:
Always call the warranty company firstWhen something breaks and your home has a warranty plan, you should always call the warranty company first and see if the problem is covered. If it is, you can save on what could be a costly repair bill just by checking. Never assume something isn’t covered, even if you think you remember the details of your home warranty agreement. Call first and check to see if your particular issue is covered.
Remember to renewHome warranties can expire and are usually renewable on an annual basis. If you have found the warranty to be useful, you should renew it on time. Renewing your warranty is a particularly good idea if you are in an older home with aging systems, since the renewal cost is likely lower than the cost of repairing something that has broken.
Repair or replace?Be aware that most home warranty companies prefer to repair an existing system or appliance, rather than replace it with a new one, even if a new model will be more efficient. It costs less to repair something than completely replace it, so you may be stuck with a patch job to keep your old system or appliance limping along. Make sure you can live with appliances on life support when you purchase your warranty.