Why should I purchase Home Warranty on a 4 year old home? (2014, inspector)

[jons_wifey]

First time home buyer and wondering if I should purchase a 2 or 10 year home warranty on our 2009 Ryland home. Home inspection report came out clean.

[MrRational]

Originally Posted by jons_wifey

...wondering if I should purchase a 2 or 10 year home warranty on...

on anything? The answer is no. Not even a 90 year old heap.

What you need to do is build a list of names you can call upon to do & fix what you can't.

[jons_wifey]

Originally Posted by MrRational

on anything? The answer is no. Not even a 90 year old heap.

What you need to do is build a list of names you can call upon to do & fix what you can't.

just thinking could my electrical wiring or plumbing system or HVAC go out POSSIBLY that I should have warranty to cover.

[Rakin]

Are you paying for it or the seller ? If you are, I'd just keep the money in my pocket.

[MrRational]

Originally Posted by jons_wifey

just thinking could my electrical wiring or plumbing system or HVAC go out
POSSIBLY that I should have warranty to cover.

That's what they count on.

It assumes that the HW would fix anything or the way you want when you want...
or even at any sort of savings. LINK

Again... find your own local contractors.

[jons_wifey]

seller pays for 1 year of the home warranty as part of our closing costs. But it's for the basic plan and will expire June 2014. After that not sure if I should extend or go with a new home warranty provider.

[Rakin]

Originally Posted by jons_wifey

seller pays for 1 year of the home warranty as part of our closing costs. But it's for the basic plan and will expire June 2014. After that not sure if I should extend or go with a new home warranty provider.

Do not extend. Just put the money in your pocket.

Most importantly: Take care of your home and have items maintained.

[dontaskwhy]

Extended warranties rarely pay for themselves. As others mentioned, don't pay for one. If the seller is offering a home warranty at no cost to you, then fantastic.

[Szabon]

I always recommend the first year home warranty, even if the seller does not pay. That first year tends to be the year where you find out the previous owner was a complete idiot and did things even the home inspector can't find.

After that, yeah. Just save your money and know that a big expense will come and be prepared.

[CharlotteP]

A home we bought a few years ago came with a home warranty (paid for by seller) When the washer had issues, the home warranty was useless-if you read the fine print on those things you will see that the company has an "out" for just about anything. When we sold a home our realtor told us "they're pointless but it makes a buyer feel better"