Oro Valley Real Estate - Home Warranty
Oro Valley Home Warranty. Oro Valley Real Estate, Oro Valley Homes for Sale in Oro Valley AZ. Sell or Buy Oro Valley AZ, Real Estate and Homes for Sale
Ian Taylor Long Realty www.OroValleyRealEstate.com 520-400-9494 itaylor@longrealty.com    

What Is a Home Warranty? 
It's a policy a homeowner pays for that covers the cost of repairing many home appliances if they break down.
After all, lots of things you buy come with a warranty in case they break down, from cars to smartphones. But what about homes? It turns out you can get a home warranty plan, too.
Home warranties provide financial protection from a service provider for homeowners who might be faced with unexpected problems with their appliances.
Many people buy a one-year home warranty plan right when they close on a home, since such protections can provide some much-needed peace of mind that you won't get hit with unexpected, out-of-pocket expenses soon after moving in. Imagine what a bummer it would be, after all, to wake up one morning to a broken boiler, knocking appliances, a leaking water heater, dripping plumbing, or malfunctioning fridge in your new home.
A home warranty plan can lessen those homeowner and appliance worries, which for many is worth every penny.

A couple of warranty plans to consider: American Home Shield and 2-10 Home Buyers Warranty

What does a home warranty cover?
Don't mistake a warranty for homeowners insurance, which covers your home's structure and belongings in the event of a fire, storm, flood, or other accident. Home warranty companies, in comparison, will cover repairs and replacements on home  systems, including electrical systems, plumbing, water heater, washer, and kitchen appliances due to normal wear and tear—no calamities required.
Home warranty companies generally set up a service contract to cover the following items (you can read a sample contract to find out):
Basic home systems such as plumbing and electrical
Heating and cooling systems, including the water heater
Appliances such as the washer and dryer
Kitchen appliances such as the oven, range, built-in microwave, and garbage disposal
How much do home warranty companies charge?
While homeowners are often required to get homeowners insurance along with their mortgage, home warranties are a fully optional purchase. Basic coverage starts at about $300 and goes up to $600 for more comprehensive plans, says Bell.
A homeowner can include add-ons to a service contract if needed (e.g., coverage for a swimming pool, various appliances, or an external well).
Although many home warranty companies offer plans to homeowners at any point, the best deals can often be snagged if purchased when you become a first-time home owner. You're eligible for these plans whether you're buying a condo or single-family home. And some warranty plans are the "build-your-own" type, which means you can customize a basic plan to cover particular systems (like plumbing) and appliances, or you might include optional add-ons like a tuneup for your HVAC.
The home warranty offered at the time of the real estate transaction typically offers the most comprehensive coverage and price points, so that’s why it’s the ideal time to lock it in.
At the end of the first year, you usually have the option to renew your home warranty or bail with your service provider.

Benefits of home warranties for home buyers and sellers
A home warranty benefits homeowners by providing reassurance that they can move in without worrying about shelling out even more for add-on or surprise repairs.
A home warranty can also benefit home sellers (if they don't have it already), since it can cover these elements during the listing period; some home warranty companies even offer free seller’s coverage during this time with the hopes that the buyer will decide to continue the coverage. Often, home sellers will offer to pay for the first year of a buyer's home warranty to entice buyers to bite.
But not everyone thinks home warranty companies are worth the cost. Typically a warranty isn't necessary with new homes, since most of the appliances are already covered under manufacturers' warranties. But in general, the older your home, the greater the odds that something'sbound to break, and the wiser it is to get a home warranty. Best of all? Not all home warranty companies differentiate between newer and older homes in terms of cost, making a warranty an especially cost-effective option if you are purchasing an older home.
Be sure to read the fine print on the contracts from a warranty company. And remember, this type of warranty doesn't usually cover pre-existing conditions and you may have to pay a deductible if something breaks.

What if something breaks under a home warranty?
Home repairs are a big headache, so you're probably wondering if that broken appliance, leaky plumbing, ductwork, or HVAC is a covered item under your home warranty. To find out whether you may have to pay a deductible, call your provider or customer service to connect with a qualified contractor in your area.
One thing to remember is that a home warranty does not mean you're off scot-free for a certain "covered item." Typically you'll have to pay for a service call, service fee, or part of the bill up to your home warranty deductible first.

While not everyone will think a home warranty is worth it, it is a good idea for people who lean toward being better safe than sorry when buying a home. Consider the appliances you own and how reliable your plumbing is. Speak with Ian Taylor, Long Realty for advice, and then check out the home warranty companies in your area. This way, you can read a few sample contracts and decide for yourself.