Which home warranty should be bought by the first-time buyers?
After buying a new house and moving in, when you realise that it needs repairs on major item scan be frustrating. You may call your property manager when the air conditioner blows out if you are staying in a rental home. But it becomes your responsibility to get the repairs done when you own a home. In order to provide peace of mind to homeowners/buyers that’s the time where a home warranty plan comes in. A service contract for protection against unexpected repair or replacement costs of major home systems and appliances is called a home warranty. Some of your financial burdens can be helped to alleviate by it. As a first-time buyer, it can be difficult to choose a home warranty with so many available options, but the best ones can be bought from Complete Care Home Warranty company website.
Different warranties available for a new home
For new houses, different types of warranties are available in the market.
- Builder’s warranty: For newly constructed homes, this warranty plan is provided by the builder or developer. For major structural elements, the term duration of such warranties may be 10 years although most builders’ warranties cover workmanship for a year or two.
- Home warranty: This contract is available for inexpensive repairs and replacements. In order to add financial protection to their home systems and appliances it is one of the most common warranties that people purchase. Itcan be renewed at the end of the term and it usually lasts for a year. However, you can also get monthly contract.
- Homebuyer’s warranty: Generally, the sellers or realtors provide a home buyer’s warranty. The home systems and appliances that break down due to everyday wear and tear, aging, or mechanical malfunctions are covered by this service contract. Within 30 days of closing on a home, these plans have to be purchased.
- OEM: The manufacturers of any device or product provides this original equipment manufacturer warranty. An extended warranty for the same product can be bought by you from the same manufacturer, once it ends.
Why do people have to buy a new home warranty?
The thought of purchasing a home warranty often gets people confused. They don’t know the right time to buy. You can consider a home warranty plan for your home items due to the following instances:
- When you don’t want any additional liabilities
- When saving money becomes your priority.
- When you move into an older home
- When you want to save time