Should You Buy a Warranty For Your Dallas Home?

There are arguments to be made for buying a home warranty, and there are arguments against it.  Some homes require such low maintenance that a home warranty is never even needed.  Many other homes in Dallas and surrounding areas are much older, making a home warranty a must.  Regardless of the age of the home you are looking to buy in the Dallas area, there are some key factors that need to be taken into consideration when deciding whether a home warranty is need for your Dallas, Texas home.

The biggest advantage of a home warranty is to protect the home owner from the financial burden to replace/repair the major appliances, plumbing, and electrical components of the home.  Many houses in areas like Richardson, Lakewood, Lake Highlands, Highland Park, University Park and other established Dallas areas have homes built-in the 50s and 60s.  With homes of Repairs to things like a hot water heater or air conditioner can cost thousands of dollars to replace or repair.  A home warranty helps protect you from these inevitable realities of maintaining and owning a home.

A warranty on your home not only offers peace of mind and an incentive to a home buyer, but it can protect the home owner should anything happen to the home while trying to buy a home before you sell or lease.  A seller of a home can also use the home warranty as a cost-effective way to handle any issues that may arise from a buyer’s home inspection report.  With many potential home buyers feeling low on funds after closing, a home warranty may be just the comfort they need to help be prepared to cover any costly repairs.

However, if most of the aspects of your home are covered under a manufacturer or some other warranty, a home warranty can be a bit of overkill.  In addition, while a home warranty will protect many components of your home, not everything is covered.  Home warranties have their limitations just like every other kind of insurance or warranty.  Roofing and siding are examples of elements usually not covered by a home warranty.  The warranty can, however, cover most major appliances, plumbing and electrical components.

If you are buying a home or considering selling your home in the Dallas, Richardson, Lakewood, Lake Highlands, University Park or Highland Park areas, our team would love to be a resource.  Contact us today to discuss options to a new home, see if you can sell before you buy, or explore other mortgage opportunities in the Dallas area.