North Florida Home Warranties

Posted on by Crye-Leike

Whether you are buying or selling a home in North Florida, home warranties are very useful. A home warranty policy will pay for the cost of fixing and, if necessary, replacing many systems including cooling, heating, plumbing, water heaters, electrical, refrigerators, ovens, etc. The policy offers coverage against normal damage and is for a set period of time, usually one year. In some cases ceiling fans, pools, and even roofs can be warranted.

Typically a home warranty will cost between $350 – $600 depending on terms, conditions, and contract period. When you make a claim, there is usually a small deductible. Home warranties do not cover pre-existing conditions (already damaged items) and don’t cover cosmetic repairs such as rust or paint. Usually, home warranties do not cover structural items such as doors, window frames, etc. It is important to find out the specific terms of a home warranty.

Advantages for Florida Home Sellers

Home warranties can be an excellent marketing tool when selling a home. Your house can be listed as fully warranted, which means home buyers don’t have to worry about being deceived about the condition of items in a home. Warranties also differentiate your home from others and may help in negotiations over the price of the home. Home warranties typically take effect after closing and last for one year. In a situation where selling a home in a short time frame is important, home warranties can make the difference and can even bring a higher price.

Advantages for Florida Home Buyers

A buyer may want to purchase a home warranty even if a seller does not pay for one. A repair on a major appliance can easily exceed the cost of a home warranty. In the period after a purchase, home warranties also give peace of mind. Typically, a household’s cash reserves are depleted after purchasing a home, and any major repair can be a financial burden to the family. A typical repair to a furnace will cost $1250 – $3500, well above the cost of a home warranty.

Home warranties are very common. It is estimated that nearly one million policies were sold last year. Typically, a real estate agency or an agent can provide you with a home warranty. Read the terms and conditions closely as with any contract. In most states, real estate agencies get a monetary incentive for selling a home warranty. Try shopping around for warranties to make sure the real estate company is trying to get you the best deal.

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