Tag Archives: home warranty

Testimonial: Can’t go wrong with Marti!

Five star reviewZillow Testimonial from Langfordrandy on 1/20/18
Five Star Review
Sold a single-family home in 2017 in Black Diamond, WA

“Very detailed and always willing to help and answer questions when asked. Marti provides a professional photographer and stager when selling a house. She also paid for a Home Warranty that will cover repairs for the new buyer which is a plus. Our house sold in less than a week after begin listed  on the market. Can’t go wrong with Marti.”

Read this  five-star review and others like it on Zillow.

Homeowner’s Insurance vs. Home Warranty: What’s the Difference?

Force-placed-ins-money-house-article-2Because your home is one of your most valuable investments, it is important to protect it. There are two primary ways to do that: homeowners’ insurance and home warranty. While both are important resources, they cover different things. Here are some of the key differences you should understand before purchasing them.

Homeowners’ Insurance

As American Home Shield points out, a home insurance policy covers accidental damage to your home due to theft, storms, fires and some natural disasters. Note: some natural disasters like floods and earthquakes require separate policies. Homeowners’ insurance covers four key areas:

  1. Interior of your home
  2. Exterior of your home
  3. Personal property in case of theft, loss or damage
  4. General liability when someone is injured on your property

If you have a mortgage on the home, your lender will require you to have a homeowners’ insurance policy. How much insurance you need depends on the types of coverage, the value of your home, and the amount of any mortgages on the property. Your lender and insurance agent can tell you the minimum required amount as well as make recommendations. Their advice will also be based on whether you have replacement cost coverage, actual cash value, market value coverage or stated value.

Homeowners’ insurance is renewed annually, and the yearly premium ranges from $300 to $1,000, depending on coverage amounts and your deductible. A higher deductible typically means a lower premium.

Home Warranty

A home warranty is a completely different type of coverage. It is a service contract that provides for the repair or replacement of your home’s system components:

  • Heating, ventilation, air conditioning (HVAC)
  • Electrical
  • Plumbing
  • Kitchen appliances
  • Washer/dryer
  • Pools and spas (usually available as an add-on)

A home warranty is usually good for 12 months, and it is voluntary. You do not need a home warranty to qualify for a home loan. American Home Shield says the average cost of an appliance and system combo plan is about $75 per month, or $900 a year. Add-on coverages for pools and spas are additional. Home warranties are particularly useful when purchasing an older home with older systems and appliances. $75 a month is a bargain compared to having to foot the bill for major repairs or replacements.

Home warranties are helpful to home sellers because it may help them to sell their homes faster because their homes are more marketable. It may also protect them from legal disputes if major problems arise after the sale. Home warranties are also useful to home buyers because they help protect major systems in the home as well as cash flow as the buyers move into a new home.

Both types of coverage offer peace of mind in exchange for a premium, and can protect you from financial surprises should something unexpected happen to or in your home. Check with a trusted Realtor® for recommendations of reputable homeowners’ insurance agents and home warranty providers when you are shopping for your next home.

 

Homebuyers, get a jump start on spring home shopping

Hand Shake PhotoSpring and summer are typically the busiest times of the year to shop for a home. Not only is the weather nicer, but it is often easier to move when children are on spring or summer break. With spring just a month away, here are some steps you can take to prepare yourself for the home shopping season:

  • Start interviewing REALTORS® to find one who is a good fit for you. We recommend choosing an experienced REALTOR® who is familiar with the community where you want to live and who has expertise in all areas of the home buying transaction.
  • Clean up your credit. Even if you have stellar credit, your credit report may contain errors or inaccuracies. Before starting the loan approval process, order your free credit report (every consumer is entitled to one free report each year) and check it closely. Report any mistakes to the appropriate credit bureau right away. This process can take months, so start now if you are planning on a spring or summer home purchase.
  • Get pre-approved. By accomplishing this step early on, you’ll know how much home you can afford and how much of a down payment you’ll need. According to the National Association of REALTORS®, the average down payment for homes is 6%, but you can find loans with down payments as low as 3%.
  • Budget accordingly. Once you’re pre-approved, consider all of the additional costs you’ll have to cover including moving expenses, closing costs, homeowner’s insurance, home warranty, etc.
  • Be prepared to make an offer. Once you begin shopping, your REALTOR® will show you new listings as soon as they come on the market. Be prepared to make time for a tour, know what criteria are most important to you (e.g., schools, neighborhood, # of bedrooms, acreage, etc.) and don’t delay in making an offer when you find the right home. In a competitive real estate market, some buyers come prepared for cash sales and others are willing to bump up their offer to secure their dream home.

By following these steps, you can put yourself in a good position to begin your home shopping. Have questions? Want to discuss a spring or summer home purchase? Contact your local REALTOR® for help.

Source: Realtor.com

Home Protection Plan = Peace of Mind

A home protection plan can you give you peace of mindDid you know a home protection plan gives you peace of mind? Also called a home warranty, a home protection plan from a provider like American Home Shield can cover many of the repair and replacement issues that come along with home ownership, including heating & cooling systems, hot water heaters, plumbing, major appliances and add-ons like swimming pools, spas and well pumps. By purchasing a home warranty, you can protect your family and your budget from unexpected repairs. My preferred provider, American Home Shield, offers free quotes, so you can see how affordable it can be to prepare for the unexpected.

In addition to giving you peace of mind, a home warranty can:

– Improve the marketability of your home
– Add value to your listing
– Boost buyer confidence
– Differentiate your listing from others on the market

Have questions? Give me a call. I can help!

Older Home? Consider the Benefits of a Home Warranty.

Worry less. Live more with a home protection plan, a service contract which covers the repair or replacement of many home system components that break down over time.  American Home Shield has over 40 years experience caring for their customers.  If your house is over 10 years old, please consider the benefits of a Home Warranty through American Home Shield, one of my preferred providers.  Contact Ed Wood at 253-212-6014 or email for more information.