When you are selling your home, you will want to do everything you can to help your home stand out from its competition. Before listing your home, it is important that your home be very clean, decluttered, properly staged and priced appropriately. Depending on the market, sometimes even that is not enough. Another thing you could consider when selling your home is to provide a home warranty to the new buyers of your home. This can be a nice selling point for several reasons.
A home warranty covers the components of a home, such as heating and cooling systems, appliances and water heaters but usually doesn’t include minor repairs such as plumbing leaks or anything cosmetic like painting and flooring. It can be purchased at any time though they are most often purchased during home transactions. The price can vary depending on the size of the home, age of the home and the options you select. After purchasing the warranty that normally lasts for a year though you can renew it in future years. You will pay a predetermined amount for a covered repair and the remainder of the repair will be covered by the warranty company. It is imperative that you call the warranty company before contacting someone to do the work if you want the warranty company to cover the repair.
For the buyer of your home, a home warranty can offer additional peace of mind. They will have a little extra comfort that many repairs can be made using the warranty and not deplete all of their savings. While everything at home doesn’t cost thousands of dollars, it isn’t uncommon for one repair to cost more than the cost of a warranty.
For the seller, a home warranty may bring in more buyers, especially if the person is selling an older home. First-time buyers don’t always have a lot of money to put into the property, and a warranty would reassure them they won’t have a lot of major expenses.
Think of a home warranty like an insurance policy for repairs to your home. Like insurance, the warranty doesn’t cover everything but it can cover many items and give you some extra peace of mind and for a buyer may just be the thing that helps them select your home over a similar one down the street. For additional information regarding the home buying or selling process, I will be happy to answer any questions you may have, help you to find your dream home or determine the value of your existing property
Nancy Davidson is your ultimate real estate resource for Mammoth Lakes, CA and The Eastern Sierra. Visit my website for detailed information regarding today’s real estate markets.
Image courtesy American Advisors Group/flickr.com