But what is a home warranty, and is it worth it?
What is a Home Warranty?
A home warranty, unlike homeowners insurance, is a package you buy that’s designed to protect your pocketbook when the appliances or systems in your home break down because of normal wear and tear. You pay an annual fee for a home warranty, and if something goes wrong during the course of that year, you call the home warranty company for help fixing it.
How Does a Home Warranty Work?
A home warranty typically covers systems like the HVAC and appliances, but every policy is different, so it’s important to read the fine print before you make a hefty investment (home warranties typically cost between $400 and $600 per year).
If something breaks, you call the warranty company; the company contacts a local pro who comes to your home to evaluate the situation. You’ll pay a “trade call fee” to the professional, and then the professional will coordinate with your warranty company to pay for parts and labor on the repair.
Is a Home Warranty Worth the Cost?
You’ll have to work out the math to determine whether a home warranty is worth the cost. If you’re good at fixing appliances and home systems, it’s most likely not going to help you much—but if you think things may break and you’re not equipped to fix them, it might be a good investment.
If you’re thinking about buying a home warranty, ask your Lake City Realtor® for recommendations before you dive in with both feet. Your agent will be able to tell you what other clients have purchased and how it’s working out for them.
Are You Buying a Home in Lake City or the Surrounding Communities?
We’d love to help you find your dream home here. Call us at 386-243-0124 or get in touch with us online to let us know what you’re looking for so we can start searching right away.
In the meantime, take some time to explore:
- Waterfront Residential
- Waterfront Land
- Bank Owned & Foreclosures
- Short Sales
- Paved Road Frontage
- Non-Deed Restricted Land
- Wooded Oak Tree Land
- Land for Land Home Combo