Offering a home warranty is a great way to interest potential buyers in a property. Though home inspections will usually point out damages and crucial issues, homebuyers should be aware that no one can predict with certainty when appliances or home systems will break down. While it is beneficial to set aside money in an emergency fund to cover the inevitable repairs that come with home ownership, no one wants to spend all their hard-earned money on costly repairs or replacements they didn’t anticipate making.
Home warranties are a great way for homebuyers to protect their budgets against unexpected costly home repairs. Home warranties generally cover four different areas of repair: major appliances, heating and cooling system components, electrical system components and home plumbing components. If covered items wear out over time, a homeowner’s home warranty will pay for the repairs or replacements, so homeowners are not stuck with the bill.
Home warranties give buyers the assurance they need to feel comfortable buying a new home. A homebuyer should know that even the nicest-looking homes may conceal hidden problems, and that appliances and home systems can break down at any time. Some homes have not even had home inspections, and a warranty can help homeowners feel more confident and secure in their new home.
Home warranties may also lead potential buyers to spend more on a house than they would otherwise. Since they know they will not need such a large emergency fund for repairs, they can justify spending more on the purchase price of a home. Not only can this help sellers obtain better offers on their homes, but it can help move homes off the market quicker, as sellers with a home warranty may not need to reduce the price multiple times to attract buyers.
Sellers who are serious about selling their homes should consider offering their buyer a home warranty from HSA Home Warranty. The relatively small upfront cost of a home warranty can be worth the money to be made from a quicker sale at a better price
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