A Home Warranty Can Save Money

Dated: 05/14/2019

Views: 6

Your income tax is probably filed for last year by now and you've been through your expenses for the year.  Money spent on repairs to your home is not deductible but being aware of how much you spent last year may help you make a decision that could save you money this year.

Sellers, often, provide a home warranty to buyers to give them peace of mind by limiting some of the out-of-pocket money spent on unexpected repairs for one year.  Home warranties can be renewed by the buyer by paying the annual fee and any homeowner can purchase one for their home whether they had one when they bought it or not.

A home service contract typically covers mechanical systems and built-in appliances in the home.  Many times, these items are not covered by the homeowner's insurance policy.  They can also include other things such as pool and spa equipment, and free-standing appliances like refrigerators, washers and dryers.

The process is simple.  It doesn't cover pre-existing conditions.  Once a plan is in effect, you call to report a claim.  The company will assign a local profession to assess the problem and if covered, they will repair or replace the item.  You will only pay a service fee.

Home protection plans can range in prices depending on area and coverages.  Most start around $400-500 a year which could easily cover the cost for one claim alone.

For more information on home warranties in general, you can go to HomeServiceContract.org which is an association representing some of the premier home service contract providers.  If you'd like to have a recommendation based on companies we work with in our area, give me a call at (586) 321-5203.

Blog author image

Robbin Barnes

I'm proud to help Macomb and Oakland County home buyers and home sellers. In business since 1996, I understand the local southeast Michigan real estate market and can help you navigate your real esta....

Latest Blog Posts

Home For Sale - 35300 WOODWARD Avenue #401 - Located in Birmingham

Perfect blend of quiet neghborhood & in-town living here in Poppleton Place! Renovated 4th floor unit boasts upgrades including hardwood flooring, crown moldings, 6 panel doors & granite

Read More

Home For Sale - 391 Teggerdine Trail - White Lake Twp Quad-level

STOP LOOKING.. Your almost waterfront home is waiting for you to come claim it !! Location, location, location is not just a cliche' it is real! This home is a stones throw from the lakes ,,

Read More

Home For Sale - 16153 Bell Avenue - Eastpointe Ranch

Come see this all brick, move in ready, home with an attached garage and open concept living, with over a quarter acre fenced in lot. Home features a large eat in kitchen with a bedroom/office off

Read More

Home For Sale - 5650 Heathdale - Warren Colonial

Nice, large 4 bedroom home sits on a very large 90 x 300 treed lot. This home offers a lovely sunroom with skylights, 1.5 baths, fireplace in the living room, brick paver patio, large kitchen with

Read More