We have always carried a home warranty… in addition to homeowner’s insurance. I’ve seen them run anywhere from $400 to $1100 a year; you should definitely shop around as they aren’t all created equal.
Although we could certainly use that $70 a month toward something else, I stand behind the importance of having a warranty. Homes are crazy expensive and you never know when something will go out. Obviously it’s up to the owner to get one or not, but I’ll never go without one. Personal preference.
We used it when our dishwasher stopped working in Omaha. Then when our AC went out while living in AZ (and the temp was 3 digits!). And again, when our AC completely died about 4 days prior to closing the sale on that same home- that’s when it saved us! Even with all those monthly payments – we didn’t need to come out of pocket to get it back up and ready for the new owners.
Now, in our new home – which is a very long story of problems – we called them again when our pool pump went caput. No one WANTS to have to use the warranty, but that’s what it’s for. To help with those unexacting issues that pop up at the worst times.
You don’t NEED to get one, but put some thought into it and do some shopping. Often, you can get a year or two from the seller when purchasing (discuss with your agent of course), but I’d suggest forking out the $500 or so – at least for peace of mind. And if not – I’d suggest putting it aside in a savings account for when something does go wrong. Because it will. 🙂
What? Yup. I couldn’t believe it. We have lived in this home for 4 years with pretty much NO problems. Last summer we did have a small issue with one of the AC units, but it was an easy fix — and for living in AZ, you gotta know there’s going to be some little issues as those things work HARD!
This was really the first week every day was in the triple digits. At first we didn’t notice anything -we aren’t typical. We don’t like it 72* in the house. We usually have the temp around 82* or even higher. But one day while we were packing and moving stuff, we noticed it was much cooler upstairs than downstairs…. it was seriously like 4 days before closing! (why not a week later?) lol.
So yes – we had to enlist the help of our home warranty. Although it wasn’t the easiest task – I mean, we were selling the house and couldn’t close w/o having AC, right? After many phone calls (and help from our buyer’s agent!), we were able to get help and it NOT cost us $2500! We were having some doubts with this company, but they pulled through and renewed our trust – they didn’t charge us a thing AND gave us a $200 credit on purchasing/renting swamp coolers for our new buyers to use until the unit was fixed (about a week after move-in).