Homeowner Warranties: Not a Bad Investment
Even Good Appliances can Break
The Big Canoe Community was originally developed in the 1970′s as a second home vacation resort for the Atlanta and Buckhead crowd. Though I have fond 70′s memories of plaid pants and groovy music, I also remember my parent’s brown oven and the matching brown fridge with the pull out freezer that used to leak. Central heating and air was all the rage and the microwave was becoming a must have household item. I faintly remember ours being as big as a sofa and it had an analog clock. Though I don’t see many of the original 70′s appliances in the homes of Big Canoe anymore there are still a few cabins around that have never been renovated. Chances are many of those appliances still work just fine, but we all know it will only be a matter of time before they keel over and you are shopping for appliances. Even some of the newer appliances can have problems that can be very costly to repair. When purchasing a home is may be beneficial to look into a homeowner warranty (HOW). Regardless of the age and condition of your appliances, it is a nice feeling to know that you’re covered.
- There are many homeowner warranty (HOW) companies out there to choose from and each company has several tiers of protection. Not all companies have sparkling reputations. It is important to research several companies before you choose your HOW company.
- Most companies have a core list that covers most appliances and charge extra for additional items. Be sure that you know what is covered and what is not.
- The warranties generally last for one year. Many of them can be renewed after the term.
- If your appliance breaks the company will send out a repairman to attempt to fix it first for a nominal fee somewhere around fifty dollars. If they can not repair it then they will replace it.
Homeowner warranties are negotiable between buyer and seller. Often the buyer will request one when presenting an offer. Most sellers are agreeable to purchase a HOW for the buyers as the cost is usually below $500 and the payment is not due until the home closes. Sometimes a little reassurance goes a long way.
If you have had any personal experiences with HOW’s , good or bad please feel free to comment. Any and all advice is helpful.
Happy Holidays!
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