Why Buy a Home Warranty?
Planning for Home Maintenance Costs
You don't think about future maintenance costs when buying a home, but you should. Whether buying an older home or a newly constructed home, equipment can be faulty and costly to repair. Since most home buyers are focusing on making the down payment and not saving for future repairs, a home warranty provides a good back-up plan.
Usually a home's purchase price can be used to project maintenance costs. Recommended estimates for annual maintenance costs range from 1.5 to 4 percent of the home's original cost. While this is not always true, especially when the purchase price of a home is three-quarters of a million dollars, it is a good rule of thumb for the average home buyer.
Most home warranties cost between $300-$400 and will cover many major home systems and built-in appliances for one full year after closing. A home warranty will pay to repair or replace a covered item and the homeowner pays a minimal deductible rather than the full cost of repairs. It's an easy way to manage your home's finances and plan for those unexpected repairs.
Your Coldwell Banker Pennington-Chen Sales Associate can recommend a reputable Home Warranty Company to you. Call or email us for more information.
Located in Clear Lake City at 1120 Bay Area Blvd. Houston, Texas 77058 Ph (281) 486-9770 Toll Free (800) 638-9770 Office Email
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