When you’re buying a new build home, you may be asking yourself whether or not you need to buy a home warranty. After all, the home is brand new won’t the builder’s warranty cover it? In most cases, the builder’s warranty will only cover major defects in the construction of your home. It will not cover any damages that may occur after you move in. That’s where a home warranty comes in. So, should you buy a Home Warranty for your new-build home? Here are some things to consider.
What Is Home Warranty?
A home warranty is a contract between the homeowner and the home warranty company. It is an insurance policy that will cover any repairs or replacement of many of the major systems in your home. They include:
- Heating and cooling systems
- Water heaters
- Stoves and ovens
- Washers and dryers
- Garage door openers
- Electrical wiring and systems
- Plumbing systems
It’s a great way to protect yourself from expensive repairs down the road, and most policies only require a small monthly fee.
If something goes wrong with one of these systems, your home warranty will help cover the cost of fixing it. Home warranties typically cost around $300-600 per year, and they can be an excellent investment if something goes wrong. So if you’re looking for extra peace of mind when it comes to your home, a home warranty may be right for you.
The cost of a home warranty varies depending on the size of your home, the age of your appliances, and the level of coverage you choose. Many home warranties also include a service contract, which means that if something breaks, the warranty company will send a technician to your home to repair it.
So Should You Buy A Home Warranty For A New-Build Home?
The answer depends on your circumstances. If you’re comfortable with the builder’s warranty covering any defects in your home, and you don’t think you’ll need coverage for major systems or appliances, then you may not need a home warranty. However, if you want extra peace of mind, a home warranty can be a good investment.
Is Home Warranty Worth It?
Now that you know a little bit more about home warranties, you may be wondering if they’re worth the investment. The answer to this question depends on a few factors.
- How long do you plan to live in your home? If you’re only planning on living in your home for a few years, it may not make sense to invest in a home warranty. However, if you think you’ll be in your home for many years to come, a home warranty can be a good investment.
- Consider your budget. If you’re tight on money, paying for a home warranty may not be realistic. However, if you have some wiggle room in your budget, a home warranty can protect against expensive repairs down the road.
If you’re still undecided about whether or not to buy a home warranty, talk to your real estate agent. They can help you weigh the pros and cons and decide if it’s right for you. And remember, if you do decide to purchase a home warranty, be sure to read the fine print and understand what is and isn’t covered. That way, you’ll know exactly what you’re getting for your money.