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ARE HOME WARRANTIES WORTHWHILE? WHO
PAYS FOR THE WARRANTY?
Yes, they are worthwhile. When a new
occupant takes over a home, everything in the home is used somewhat differently
and problems may occur. It is better to pay a relatively small deductible
(usually $50) than incur a major expense after just using a large portion of
your savings for your new home.
Who pays for the warranty? Usually, you do.
It is often negotiated into the contract, however, deferring the cost.
As an additional benefit and incentive, some sellers provide a home warranty for
the buyer. This coverage is usually good for 12 months on selected items:
Central heating and air conditioning systems
Electrical and plumbing systems
Water heater
Built-in appliances
Roof leaks
..and more.
The base cost for a home warranty is around $400.
American Home Shield
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