Forward this email to a friend.

Wenzel Select Properties Newsletter-Vol 11 Issue 7


Should You Pay Extra for a Home Warranty?

A home warranty provides homebuyers with financial protection and peace of mind. It can be especially beneficial for someone investing in an older home. If an appliance or system covered under the warranty malfunctions or fails, then it will be repaired or replaced at no cost―except for the cost of service.

While some sellers include home warranties in the sale, others do not; in which case, you may want to consider buying a home warranty on your own.

What Does It Cover?
A basic home warranty will typically provide coverage for the home’s plumbing system, electrical system, heating system, water heater, ceiling fans, garbage disposal, exhaust fans, and some of the kitchen appliances. Enhanced home warranties will often provide additional coverage for washing machines, dryers, garage door openers, air conditioners, and other kitchen appliances. You can also add on individual components such as pools, septic systems, and more for additional fees.

How Much Does a Home Warranty Cost?
A basic home warranty will typically cost between $300 and $600 per year. This means that when a seller includes a home warranty with the house, it’s actually a nice perk, especially if it’s an enhanced home warranty that provides even more coverage. Keep in mind that even though you may receive a free warranty, you’ll still have to pay a service fee for every repair or replacement you request.

What Are the Cons?
If the seller isn’t including a home warranty in the sale, then you’ll need to buy a home warranty on your own. If you’re buying a newly built home, it’s unlikely you’ll benefit from the home warranty, simply because the systems and appliances are nearly new. It’s also worth noting that home warranties will not cover appliances or systems that were already broken when you purchased the house. Additionally, you won’t be able to choose your own repair person and are limited to the repair person selected by the warranty company. You also won’t be given the option to repair or replace. If repair is possible, that is the course they will typically take even if replacing it makes more sense.

Managing Broker: Lisa Wenzel - 630 430-4797

Broker: Melissa Mathis – 630 392-5171

Broker: Freddy Wenzel - 630 750-4797

Broker: Danny Reed - 708 703-4653

Broker: Kristine Emmel - 847 489-8965

Broker: Catherine Lopez - 630 981-4572

Broker: Michaela Valle – 630 946-4269

Broker: April Stary – 630 962-4820

Broker: Nina Rodriguez – 224 587-0780

Broker: Eumeka Aguado - 847 513-4433

Harmanpreet Singh - 630 440-1578

Anthony Abbatacola – 630 310-7493
Team Wenzel, 1120 Norfolk Street, Downers Grove IL 60516
The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.

Not interested in receiving any further updates? Go here to unsubscribe.