Do You Need a Columbia SC Home Warranty?
Your Columbia SC home, no doubt, is one of your favorite possessions. But what happens if a pipe bursts or the water heater stops working? When you were a tenant you simply called the landlord. As a homeowner, now it's your responsibility. Enter the next best thing to a landlord… a home warranty.
Columbia SC Home: Peace of Mind
So just what is a home warranty? Think of a home warranty as insurance coverage for the cost to repair or replace just about any system in your home that may malfunction or wear out. Typical coverage includes heating and air conditioning systems, hot water heaters, certain electrical systems and appliances. Most home warranties cost between $300 and $900 annually.
The beauty of a home warranty is that if something goes wrong, you don't have to call various companies to get repair estimates. And you don't have to pay anything additional out of pocket to fix the issue or replace the equipment. All you have to do is call your home warranty company or enter a claim online. The company then contacts the technicians they work with and either send a repairman or replace the item in question. The only added expense you may have in the case of a brand new replacement would be a co-pay (or deductible) of around $50 per occurrence.
Is a Columbia SC home warranty right for you? The answer is maybe. Home warranties are usually a good idea for first-time homeowners like Gen Xers and Millennials. They're used to calling their landlord, and for the most part, have little or no experience in tackling home issues. In addition, these younger homeowners often work long hours and may not have the time to make lots of phone calls to get repair quotes. Plus, they can't very well take off from work to wait on the repairmen to show up.
When your home was inspected for lending purposes, you may remember the condition and life expectancy of some of your home's systems. Some appliances and systems begin to fail after 15-20 years. And, as luck would have it, when one item goes bad another one soon follows. That's a reason many homeowners welcome a home warranty – it's just one more form of insurance that provides them peace of mind.
Home warranties are also popular with investors or landlords who may have to deal with multiple potential problems in more than one rental property. Most investors have other businesses or other jobs, and the last thing they want to have to worry about is finding a plumber to repair a broken water pipe in the middle of the night.
In summary, home warranties can save home buyers time and money – especially in the first year of home ownership. One last tip, remember the older the home the more coverage you may need to have.