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Home Warranties


Hotsauce

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I had one for a few years and it was worth it. got a new hot water heater for a $60 copay, then had some pipes fixed for the same copay, then one day my AC broke, and the warranty company put a brand new one in with a 5 yr. warranty. The AC was a $4500 job, and I will say it didn't pay for a lot of it. If you read the fine print there were things it didnt' cover. My cost for it was $1500. I'm not complaining. After I got that I figured I had many of the big items replaced over the years and didn't renew it but now I wish I would have because for that $550 it takes the worry out of some major home repairs.

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As a former Real Estate Brooker, I always included a Home Warranty foe all my Buyers. It was good piece of mine for buyers who had more to worry about. I never had a Seller refuse to buy the first year.

Now to your question. 14 year old house things can start to go wrong. Not saying they will. Of course things can go wrong with new homes too. You might want to keep it for one more year, then re-evalute it. IMO.

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Stay away from First American, I dislike them very much. Previous 3 years I had Old Republic and it was awesome so I'd recommend that. Everyone should have a warranty, regardless of age, it's worth it. My home was built in 2003 but I've had to use it a few times, once on AC issues that would have been stupid expensive if not. I like to time my re-up for when I get my tax return and pay it all.

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What does a house warranty cover? I thought homeowner's insurance was all that you needed, and if anything went wrong mechanically, etc. that you were responsible...

Don't make me google it... I am lazy...

Home warranty covers pretty much everything major that can/could/will go wrong with your house. The one I have covers the AC, hot water heater, electrical and plumbing issues, etc.

We bought our house in April and the warranty already is paying for itself. My compressor and fan motor went out on the AC. Would have cost me out the wazoo to get it fixed, and I know people who would do it for barely over cost. Got the whole thing fixed for $85. Which was bullshit, but that is another story.

Just for your AC alone it is worth it to have the warranty, anything that goes out in your AC unit is going to be $$$$$$$$.

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yeah, AC and furnace are worth it alone. they even have some that cover your washer/dryer/dish washer/stove too. This thread is making me miss mine. I may try to get another one.

Not really picking but one slightly bad thing about them is that if you have an emergency, they don't react too swiftly...ie...you basically have to call 9-5 with your problem, and a local contractor calls you within 24 hrs. to setup an appt. Just understand that your problem will probably not be fixed sameday, but it's often hard to get that kind of service picking up the yellow pages and doing it yourself unless you pay out the ass.

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I never buy warranties. I guess I could see buying one on a 14 year old house though. I can tell you this from experience, Never buy any kind of warranties when buying a used car. Total ripoff. My bad experience was with Carmax.

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