What Is a Home Warranty and Why You Might Need One

by | May 11, 2022

Most homeowners have heard of home warranties, but many don’t know exactly what they are or if they need one. A home warranty is basically a service contract covering the repair or replacement of major home systems and appliances. This can include your HVAC system, water heater, electrical system, and more.

Home Warranty, a Wise Investment

While a home warranty is not required, it can be a wise investment, especially if you’re buying an older home. The average cost of a home warranty is between $300 and $600 per year, much less than the cost of repairing or replacing major home systems and appliances.

Consult Professionals and Compare Home Warranty Providers

If you’re considering a home warranty, ensure you research and compare different service providers to find the best coverage for your needs. You may also want to consult with a real estate agent or home inspector to get their professional opinion on whether or not a home warranty is right for you.

Get a Home Warranty When You Buy a House

Home warranties are usually offered by home builders or real estate companies when purchasing a new home, but you can also buy them for existing homes. But many homes under construction, the builder may include a home warranty as part of the purchase price.

When You Sell Your Home

If you have an existing home warranty, you may be able to transfer it to the new owners when you sell your home. This can be a seller advantage as it provides the new owners with some peace of mind knowing that they’re covered in case something goes wrong.

Why Hire a Real Estate Agent?

It’s normal to have questions about home warranties when buying or selling a home, especially if you are a first-time investor. If you want to buy or sell a home in South Carolina and are looking for a local real estate agent, call us today at (864)-497-7107. We’ll be happy to answer all of your real estate inquiries.


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