Should You Offer a Home Warranty When Selling Your House?

Selling a house can sometimes take just one showing, but there are also times it can take months to find someone who wants to buy it. If you want to have a better chance of selling quickly, you may want to through in a home warranty with the deal. Here are a few important things to understand about home warranties.

What is a home warranty?

First of all, it's important to understand that a home warranty is not the same thing as homeowner's insurance. A home warranty is simply a policy you can purchase for your house. It offers coverage for certain parts of your home, and it will last a certain length of time. Typically, a seller will offer a one-year home warranty to the person buying the house. If anything, that is covered under the warranty, breaks during this time, the costs to repair the item will generally be covered by the home warranty.

Home warranties vary, but they typically cover all the appliances, the heating system, the cooling system, and the hot water heater. They may cover additional parts of the home too.

Why should you offer a home warranty?

When you are selling a house, offering a home warranty is an incentive you can offer to encourage a person to buy your home and to help the person feel better about the deal. The person buying your home will appreciate knowing that there is coverage for a lot of different parts of the home through the home warranty, and this gives buyers peace of mind.

How much does a home warranty cost?

The good news about home warranties is that they are very affordable to purchase. You can typically buy one for around $300; however, there are options that are more costly than this. In most cases, the amount you will pay will depend on the age and condition of your appliances, home, and the systems in it. In addition, you will have to pay a little more if you want extra coverage for things such as a hot tub or swimming pool. When you purchase the home warranty, you may have to answer a lot of questions about the things you would like included in the policy.

Offering a home warranty will not cost you a fortune, but it will give buyers peace of mind. If you would like to find out more about homes for sale, talk to a real estate agent today.