Do You Need a Home Warranty?

Posted by Krista Fracke on Friday, March 22nd, 2019 at 6:02am.

Do You Need a Home Warranty?



If you have just purchased a new Jacksonville home, you might be wondering how to protect your new purchase. It's human nature to want to protect what we own; especially when it is likely the most expensive asset of our life. A home warranty isn't insurance. It is a service contract. Much like when you buy a computer, and the company offers a warranty to fix it if it breaks.  There are a number of things you need to consider before pulling the trigger on that home warranty.


What Does It Cost?


Typically a home warranty will cost you anywhere between $300 and $500. This warranty is going to cover things like plumbing, kitchen appliances, heating and electrical systems, exhaust fans, and whirlpool tubs. Optional coverage can be added for items like pools and septic systems if needed. Companies will try to upsell “enhanced” warranties for things like washer and dryers, air conditioning units, refrigerators and garage door openers. The enhanced edition will run homeowners an extra $100 to $300. Cost is also based on the company's lost history. That means, if a company has had to make a lot of repairs or replacements, your warranty cost can go down. Don’t forget that these fees are just the premium portion. Each time you require service, you will be required to pay a fee as well - usually between $50 to $100.

You Might Already Be Covered


Similar to when you purchase an appliance in a store, when you buy one within a new home, it can come with a warranty. It would be best to check this with the builder or contractor if possible. For instance, most new appliances and mechanicals come with a one year warranty. And in some states, it is required for the builder to supply a new owner with a warranty. In order to entice a sale, some sellers will offer a warranty with purchase. It is also the norm in some areas for realtors to offer a warranty as part of a closing gift.


Downfalls of the Home Warranty


The biggest downfall is almost always an expectation. What homeowners expect of the warranty and what the warranty delivers is two different things. It is really important to take the time to read through the contract. Don’t take anyone's word for what it does and does not cover. You also need to know what the circumstances of a repair or replacement are. If you have not properly maintained an appliance, the warranty will likely be void.



Overall, home warranties are a good idea. If you have any questions about a home warranty or any other Jacksonville real estate questions, contact Real Estate agent Krista Fracke. A longtime resident, Krista knows what is happening in the area.






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