Selling your home is a big undertaking. You can expect to do a ton of work to get it ready for sale, and you want all of your hard work to shine through. This way, you can attract buyers with the best possible offer. But a major home appliance or system breakdown during the period when your home is on the market may bring your high hopes to a screeching halt. So, that’s where purchasing a California home warranty plan can come in to relieve your fears.
Win-win Solution for Everyone
A system or appliance breakdown will not only cost you time and money; it may also keep you from closing a deal if you don’t find a solution fast.
As you know, all home appliances and systems have a certain lifespan. Sure, some devices are expected to last a long time. But their electrical and mechanical parts should start to fail after you’ve used them for a while. A home warranty plan will cover most home appliances and systems when they malfunction due to general wear and tear. When these home devices and installations break down and your home doesn’t have a warranty, the cost for repair or replacement can run from a few hundred dollars to thousands.
For instance, getting a new heating, ventilation, and air-conditioning (HVAC) system can cost approximately $5,230 on average. If your home’s HVAC system breaks down from usual wear and tear, the home warranty will cover the repair or replacement costs for a small service call fee. This often ranges between $50 to $100. The amount depends on which home warranty provider you’ve had an agreement with.
Do you think a home warranty can help you? Here are the reasons why you should get one when selling your home:
It Protects Your Buyer
Buying a home is one of the biggest purchases anyone can make in their lifetime. You’ve been a homebuyer, too. So, you know that the people interested in your home will want to ensure that they’re getting an excellent deal and aren’t jumping on a money trap. A home warranty will give your buyer peace of mind and sweeten the deal, making them more likely to want to close on your home over someone else’s.
It Protects You
You may think that buying a home warranty will only benefit your potential buyer. But the warranty plan can actually also protect you, as the seller. When you include home warranty coverage in a selling offer, many companies will offer free listings. What this basically means is that you no longer have to pay for anything except for service call fees up until the closing date. At that point, if your buyer requests a home warranty, you will pay for their plan. If they don’t want a home warranty, it will be canceled before the closing date with no charge to you.
The free listings will help you in a couple of ways. First, it will cover issues that may arise during the inspection, so long as the problem was due to normal wear and tear. Second, it will help you save money. If you don’t choose the warranty plan you want to put with your listing, your potential buyer may ask for coverage with a much higher value, letting them choose the price.
You Want Your Home to Be Desirable
Offering a home warranty can help increase the confidence your prospective buyer has in choosing your home.
So, if you’re selling your home, it would be advisable to offer a home warranty plan with the purchase. It can serve as an excellent marketing tool, as your buyer will have peace of mind and reassurance, especially if it’s their first time buying a home.
Most home warranty plans cost between $300 to $500, depending on the provider. When buying a home warranty, it should cover your home while it’s on the market. The warranty plan would later be transferred to your buyer for a year of coverage, starting from the closing date of sale.
Every home warranty company offers different packages. You must read all terms and conditions before you sign anything. Determine what exactly is covered and what’s not. Discuss with the agent your coverage options and what upgrades are available, and you’ll be able to find the best home warranty for your home and its new buyer.