If you are purchasing a new home for sale in Irvine, CA, you will need to consider a few important aspects of protection, and one many new homeowners mistakenly ignore is a home warranty. Home warranties provide property owners with peace of mind in terms of repairing household systems and appliances in times of emergency while also adding some other benefits.
It is important to note there are two main levels of home warranties. Home builders often extend structural warranties that last between one and five years after completion of a new construction project. The other warranty level is extended by divisions of major title insurance companies on existing properties, and they often act as a service contract to cover systems and appliances.
In a 2014 report published by the Los Angeles Times, home warranties were presented as valuable tools for selling homes. The report quoted survey results suggesting homes sold under warranty coverage netted $2,300 more on average and reached the closing table 11 days sooner. The same article explained how homeowners who are skilled at performing certain repairs could very well do without home warranties.
While it is true many homeowners will not be afraid to troubleshoot their faulty HVAC systems or kitchen appliances, nothing aside from good home warranties can really prepare them for the high costs of emergency repairs should they arise. A similar situation would be a Corvette enthusiast purchasing a 1970 Stingray hoping to only have to worry about maintenance. What happens when the Corvette’s alternator goes on the fritz and the only economically viable option is to rebuild it? The same applies to appliances you rely on for comfort in your home.
Home warranties make more sense than ever these days because of the numerous systems and appliances found in modern homes. Homeowners who have smart automation systems should inquire if they are covered by warranties.
Securing a home warranty is just one of many steps you need to take when deciding to buy an Irvine house for sale. Get in touch with trusted real estate experts at 714-454-6304 to learn about additional steps you should be considering.