The concept behind home warranty companies makes sense when you’re buying a new house. With a down payment, closing costs and moving expenses, the last thing you can afford is a major home repair like a new HVAC system. That’s why we asked the sellers to provide a home warranty when we bought our last … Read More
Home Warranties for ... Home Repairs? Maintenance?
Home warranties have gained popularity due to a growing senior population and more families with two working parents. Homeowners simply don't have the time, skills or tools to tackle unexpected home repairs that demand quick action. They prefer one phone number to call for repairs whether it's a garage door or refrigerator that needs attention.
These home service contracts also have a fixed annual expense versus fluctuating repair costs. You only pay a service fee for each visit from a home repair contractor.
Homeowners often learn about home warranties when buying a house. Sellers offer a warranty to address buyer concerns about the condition of the house. Homeowners are lulled into a false sense of security because you have little/no control over how home repairs are handled. We had a home warranty and went 3 months with no heat after moving into our Arizona house (read: Why You Can't Trust Home Warranty Companies).