Ask anyone who owns a home about the costs of home ownership and they will likely tell you one thing: Owning a home is expensive
The real costs of owning a home are more than just your mortgage payment, insurance and taxes – they include “hidden” costs that often surprise homeowners such as regular maintenance items or even things that break when they shouldn’t.
How Much Is Home Maintenance?
According to US News and World Report, the average homeowner will spend between 1 to 4 percent of a home’s value annually on maintenance and repairs and it tends to increase over time as the house ages.
For a $200,000 home, that is between $2,000 and $8,000 each year in maintenance costs.
Never Pay For Home Repairs Again?
The rising cost of home repairs is only one reason more and more people are relying on a home warranty. A home warranty can save you money – you never know for certain when a covered major system or appliance in your home will break down. The only certain thing is that over time, everything wears out and nothing lasts forever.
When you purchase a home warranty, when a covered system in your home breaks down, simply call the claims hotline and the home warranty company will dispatch a licensed technician to service your claim.
It’s that easy!
Common Items Covered
Although each home warranty company may offer slightly different coverage, the common items covered include:
- A/C system
- Heating System
- Electrical System
- Plumbing System
- Water Heater
- Plumbing Stoppages
- Cook Top
- Clothes Washer
- Clothes Dryer
- Garbage Disposal
- Garage Door Opener
- Ceiling Fans
What To Expect When You Are Shopping
There can be a bewildering array of choices when you start to research home warranties online so most people start by developing a set of priorities. When shopping for a home warranty company, many people look at:
- How strong the home warranty company is at providing service locally
- What the price structure is
- What items are covered
The pricing structure for most warranty companies is quite competitive – so for most people it comes down to what is covered and what to expect regarding service.
Regardless if you have just moved into your house or have had it for years, you may be eligible for a home warranty. Here is a free source where you can get a home warranty quote from one of the nations leading home warranty companies. Getting information is free, easy and only takes 2 minutes.Click to See the Latest Mortgage Rates»