Home Warranty?

Question

I am buying my first home. I would like to purchase a good home warranty. Any recommendations??

Answer 1

save your money...have your realtor write IN THE CONTRACT all appliances are in working order and make sure the disclosures concerning the roof leaks , the plumbing all are available to you and have a home inspection. make your deal contingent on the findings of a home inspection.

Answer 2

When we bought our house, it was in the contract that the seller would pay for the first year of the warranty that covered appliances, furnace, and central air units.
We also had to pay for it when we sold our house to move into this one.
If everything is fairly new in your house, especially the heating and air conditioning units, I wouldn't extend the warranty. But I would save up for the 'just in case' situations that will come along.
You could actually end up paying more for the warranty in the long run than paying for the actual repair or replacement.
But if you have suspicions that something major is older and could break down it could be worth the cost.
The appraiser or inspector, should give you a list of things to watch out for that could possibly break down. Look at this closely and see if he's thinking something may break down.
Once the warranty is close to expiring, (the one the seller will buy if it's in the contract), you'll be getting letters in the mail from various companies about picking up more coverage with them. You can always pick one of them.
Oh, and don't forget the homeowners insurance. It and the real estate taxes on the property can be sat up in an escrow account and it should be figured in with your mortgage and added to your payments. But they'll let you pick the ins comp you want to use. If they offer it, go with the same company that carries your car insurance, you should get a little discount on both policies for having multiple policies with them.

Answer 3

I've only had one experience with home warranties, and it was bad. I won't let my clients pay for them again without my reading the contract and exclusions beforehand.

The one that went badly basically excluded anything that the home inspection mentions, and home inspector mentioned just about everything that wasn't still in the original box it came in. Everything had a deductible and an upper limit of what they'd pay.

The bottom line was, when things went wrong, the home warranty didn't cover it.

Answer 4

When I bought my first house, the warranty was included. Luckily, I never had to use it. I would try to get it included in the purchase but it normally doesn't cost more than $200 per year.

Answer 5

nope