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Old 08-28-2011, 11:57 AM
 
Location: Lexington, SC
4,281 posts, read 11,783,446 times
Reputation: 3743

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A few facts before I ask the heart of the issue question.

1. I own a new home with a one year all inclusive builder warranty which ends in mid November.

2. I have had them do a few repairs, garage door, leaky screen porch roof but nothing major and they have tended to the issues promptly and to my satisfaction.

3. I have to come up with a 11 month punch list before sign off. I am going to hire a home inspector just to be doubly sure I have not missed anything.

4. I can fix/repair anything in a home and probably have done so over the years I am getting older, lazier, and I have no desire/ambition to fix anything.

5. My main concerns are the more expensive/difficult things like heating, air conditioning, hot water heater, etc. versus small things like a toilet goes bad, faucet leaks, etc.

Finally the question....LOL

What are the pros and cons of purchasing a Home Warranty?

Thanks
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Old 08-28-2011, 12:01 PM
 
Location: The Triad (NC)
31,935 posts, read 73,469,488 times
Reputation: 38874
Quote:
Originally Posted by accufitgolf View Post
What are the pros and cons of purchasing a Home Warranty?
For the inept or busy or new to an area and don't know anyone to call...
and in general those who desire a nice warm feeling about things when making a large purchase... they can be very useful.
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Old 08-28-2011, 12:16 PM
 
Location: Marion, IN
8,190 posts, read 29,780,924 times
Reputation: 7308
I have had a home warranty policy on every house I have ever owned. I can't tell you how many thousands of dollars I have saved by having the coverage. I have had plumbers out on holiday weekends (cost to me? $55). I have had all new duct work (cost to me? $55). New A/C (cost to me? $55 plus a disposal fee). There have been numerous times over the years that the policy has saved me money.

The biggest con is that most folks don't read/understand the policy and what is covered/not covered.
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Old 09-01-2011, 07:10 AM
 
Location: Lexington, SC
4,281 posts, read 11,783,446 times
Reputation: 3743
Quote:
Originally Posted by Racelady88 View Post
I have had a home warranty policy on every house I have ever owned. I can't tell you how many thousands of dollars I have saved by having the coverage. I have had plumbers out on holiday weekends (cost to me? $55). I have had all new duct work (cost to me? $55). New A/C (cost to me? $55 plus a disposal fee). There have been numerous times over the years that the policy has saved me money.

The biggest con is that most folks don't read/understand the policy and what is covered/not covered.
My main concern is the HVAC and it is less then one year old. I have decided to opt for maintenance/warranty contract with the original installing company.
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Old 09-04-2011, 10:11 AM
 
5,546 posts, read 7,500,924 times
Reputation: 11100
I didn't find the home warranty worthwhile to me. maybe it was the kind of warranty offered, repair but not replace.

But the refrigerator was freezing up and they put in a $2 valve plus $55 service. The next week the next element on the critical chain went out and $X small amount with $55 service. Same with drippy faucets, they covered the kitchen sinks but not the bathtub. And the air conditioner was the same, can they replace a part and make it function? if yes, they will and make 15 trips out to fix it a piece at a time.

So bottom line, I would not consider it a great inducement but I would review the warranty contract line by line and ask for an upgrade if I wanted to use it.

just a sales technique to make you think you are getting something you are not or to make you feel comfortable that some warranty is there to do repairs
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Old 09-04-2011, 12:12 PM
 
Location: El Dorado Hills, CA
3,724 posts, read 9,262,157 times
Reputation: 3896
I don't love home warranties, but if the seller will pay for it, I recommend it for a buyer. The biggest issue I see (besides people not understanding what is covered) is the trend for service providers not to replace something that is really done. If the AC is blowing air, they consider it working. Doesn't matter if it runs non-stop and you can't get the house below 84 degrees. Just my experience.
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Old 09-05-2011, 06:44 AM
 
Location: Lexington, SC
4,281 posts, read 11,783,446 times
Reputation: 3743
After reading all and other online searches, I have decided that a home warranty is not worth it. My home is new and still under the builders 100% inclusive one year warranty for a few more months.

My real concern is HVAC as it is the most expensive "system" in the home. I have contacted the HVAC installing company and they have offered a one year, two visit, service contract plus one year unconditional, no cost to me repair/replace, labor/materials for a total of $280.00.

I have asked them to make it a 3 year contract with me being able to cancel at the end of each year.

I am going this way.
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Old 09-05-2011, 08:27 AM
 
Location: El Dorado Hills, CA
3,724 posts, read 9,262,157 times
Reputation: 3896
Read all your appliance manuals. Many will have more than a 1-year warranty included already. Don't pay for your service contract until you make sure you aren't already covered.
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