DO I NEED A HOME WARRANTY?
When purchasing a luxury lake home, its care, and upkeep become a top priority. Investing in a home warranty is one way to ensure that the systems and appliances are taken care of. However, purchasing a home warranty isn’t the right option for everyone, and we here at Luxury Lake Home would like to let you know the pros and cons to decide if it is the right choice for you.
WHAT IS A HOME WARRANTY?
Not to be confused with a home insurance policy, a home warranty is a policy that protects your luxury home’s major appliances and systems as they age and wear. It is a policy designed to save you money when your appliances such as washer & dryer, dishwasher, or hot water heater suddenly stop working and need repair or replacing.
Similar to a homeowner’s insurance policy, a home warranty requires an annual premium to continue coverage. In turn, each time something in your luxury lake home breaks down, there is a deductible to be paid.
WHAT IS A HOME WARRANTY?
Not to be confused with a home insurance policy, a home warranty is a policy that protects your luxury home’s major appliances and systems as they age and wear. It is a policy designed to save you money when your appliances such as washer & dryer, dishwasher, or hot water heater suddenly stop working and need repair or replacing.
Similar to a homeowner’s insurance policy, a home warranty requires an annual premium to continue coverage. In turn, each time something in your luxury lake home breaks down, there is a deductible to be paid.
PROS:
Peace of mind is the biggest benefit of having a home warranty in place. Having a home warranty is of benefit to new homeowners who aren’t familiar with how home systems and appliances work as well as someone who isn’t able to make repairs themselves. One phone call and a professional will be there to repair or replace if needed. This also keeps on budget for those unanticipated costs that come along with repairs and replacing of major appliances where there is no home warranty in place.
CONS:
One drawback of a home warranty is that not every appliance is necessarily covered. If appliances are not properly maintained during the course of their operations, they will not be covered under the terms of the home warranty.
These issues are subjective to the terms of the warranty and in determining what being “properly maintained” entails, which in turn could lead to disputes between the homeowner and the warranty company.
Also, as with a homeowner’s insurance policy, the premium is paid annually whether the warranty is used for repairs or not.
Peace of mind is the biggest benefit of having a home warranty in place. Having a home warranty is of benefit to new homeowners who aren’t familiar with how home systems and appliances work as well as someone who isn’t able to make repairs themselves. One phone call and a professional will be there to repair or replace if needed. This also keeps on budget for those unanticipated costs that come along with repairs and replacing of major appliances where there is no home warranty in place.
CONS:
One drawback of a home warranty is that not every appliance is necessarily covered. If appliances are not properly maintained during the course of their operations, they will not be covered under the terms of the home warranty.
These issues are subjective to the terms of the warranty and in determining what being “properly maintained” entails, which in turn could lead to disputes between the homeowner and the warranty company.
Also, as with a homeowner’s insurance policy, the premium is paid annually whether the warranty is used for repairs or not.
When you are making the decision on whether a home warranty is right for you and your luxury lake home, be sure to do your research. Be knowledgeable on the different types of warranties that are available, and what type of repairs and replacement options will or will not be covered.
If you are in the market to purchase a luxury lake home here at the Lake of the Ozarks, Luxury Lake Home would love the opportunity to show you the beautiful properties currently available, match you with the one perfect for you and your family!
If you are in the market to purchase a luxury lake home here at the Lake of the Ozarks, Luxury Lake Home would love the opportunity to show you the beautiful properties currently available, match you with the one perfect for you and your family!
MATTHEW SCHRIMPF
Berkshire Hathaway Home Services
Lake Ozark Realty
Email: schrimmj@gmail.com
Direct Phone : (573) 365-7333
Cell Phone : (573) 434-6026
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