Things to consider when buying a home warranty.
Are home warranties worth the money? Learn the facts about home warranties. Home warranties are designed to protect you from large out of pocket expenses should a covered appliance or system need repair. Systems such as your boiler/furnace, central air, plumbing or electrical to name a few. There are many companies that offer Home warranties. Make sure you do your research before you sign the policy. Most companies have different levels of service the more covered the more you pay. Consider a rainy day fund as an option to this coverage.
Transcript of video
Home warranties that's the topic of my next video.
Are they worth the money
or are they not you'll have to wait and see.
Hello everybody home
warranties are they worth the money? That's what we're
talking about right now.
Basically what is a home
warranty for those who have no
Idea? A home warranty is
a warranty that covers your house some of them are
included when you buy
the house so it will protect the buyer particularly on
an old property. It
covers the major mechanical systems like your boiler your
a/c system some of them
might include your electrical system and a whole other array of appliances and
things. The more usually you include, they have, you know the gold plan the
silver plan the
platinum plan the higher
the plan the more the money and the more things that are
covered in the house. But
is it worth it let's do a little math? Let's
figure
it out basically when
you buy the warranty you can either pay monthly or you
can pay yearly. A lot of
them include a service call fee they, also some of them
have deductibles so after
it's all said and done is it really worth the
money? Well first
there's so many companies out there which makes
competition really good
and also means that you have to do your research before
you go and move forward
with any company. If it's included with the price or if it's
included with the sale
of your house, if you purchased a house and it already has
it make sure that that price
before you bought the house
wasn't elevated to
reflect that you are purchasing that home warranty. Make sure you speak to your realtor that's
representing you and
know your comps and if
it is then that's something you can negotiate on your
particular deal before
you close maybe you don't want it maybe you want to know
the company so do your research
where can you do it well google it you get the
Better Business Bureau
you got Department of Consumer Affairs you have
all these different
rating systems that consumer ratings there's a lot out there
to help you do your due
diligence when you shop for a home warranty determine
what you need you don't
want to over warranty your house because it's not
going to be a
cost-effective option and no
the average monthly cost
is about fifty dollars a month so remember this is it
really worth buying a
home warranty or can you take that fifty dollars a month
times 12 month 12 months
a year put it in a savings account that's $600 a year
you have as an emergency
funds for something fun for something breaking
down that $600 is not
really that much money if you have your essential AC
system or you boil a
break down but after two years you have 1200 plus
whatever interest you
were able to find three years and four years down the line
you have more and more
money saved up so you could either do it that way or you
can buy the home
warranty the of your choice after you do your research and I
stress that because
there's a lot of companies out there that people are not
happy with so I hope
that gave you a little insight into the home warranty
process if you're new to
my channel thanks for stopping by remember to
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the comment section down
below and this is Mark Schreier from Century 21 American
Homes and I will see you
or you will actually see me on the next video hello
yes I'm talking to you
the person that watched my video to the very end thanks
a lot for watching if
you enjoyed it please give me a big thumbs up subscribe
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like me on Facebook I am a licensed real estate
agent in New York State
but I also have a referral service that deals nationwide
so if you're looking for
to buy or sell a house anywhere in the United States
please send me a text
contact me via phone and I'll set you up with a local
professional in your
area if you're in my vicinity I'd be more than happy to
help you out in any of
your real estate transactions that you'd like this is
Mark Schreier from
century 21 American Homes and I'll talk to you soon
