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If you were buying a house and were told that the water heater worked, but would probably need to be replaced in 6-8 months, would you want to see a new one installed (basic tank model which cost $1600 installed), or receive an allowance of $1250 so you could put in what you want (some people seem to really want tankless hot water heater, or maybe a professional model). Just asking what a buyer would likely prefer. Tks
As a buyer I would always prefer a credit than having the seller fix something. I am very picky about work on my house, and I want to choose who does it and what they do. I also always assume that sellers are (reasonably) going to want to fix things as cheaply as they can get away with.
That said, I do know that some buyers really don't want to deal with any projects before they move in, and those folks might prefer a repair. Anecdotally (large grain of salt required, only based on my personal experience as a home buyer and seller, yadda yadda) it seems to me that first-time buyers more often want repairs while experienced buyers might prefer a credit. So the type of buyers you're looking to attract may lead to a different answer.
I personally value home warranties at zero, so that would not address my concern if I were buying. I'd rather pay out of pocket than make a home warranty claim, based on the quality of work I have seen from them.
If you were buying a house and were told that the water heater worked, but would probably need to be replaced in 6-8 months, would you want to see a new one installed (basic tank model which cost $1600 installed), or receive an allowance of $1250 so you could put in what you want (some people seem to really want tankless hot water heater, or maybe a professional model). Just asking what a buyer would likely prefer. Tks
I would only state the age of the water heater and not when it would probably need to be replaced. You never know how long it will last and could go at any time.
As a buyer I'd definitely take the credit. There are a lot of posts on here about repairs that were negotiated as part of the sale, and the subsequent turmoil that arises over whether the repairs were done right, or done at all. You don't want the cheapest water heater installed by the lowest bidder (which is what you are likely to get if it's left up to the seller).
I also agree with what Mike says. Not sure on what basis someone (inspector I'm guessing?) decided the water heater only has 6-8mo left. That's pretty specific for an appliance that lasts many years. If they're just going by time i.e. I recommend replacing at 10yrs and this one is 9.5yrs old that doesn't mean a whole lot to me.
Take the allowance! Nobody can predict with a high level of accuracy the expected time left for that water heater. Quite frankly, if it is not leaking, it can almost always be fixed....most are relatively simple devices, My current water heater is 26 years old...only repairs in all this time...a few elements.
If I were the seller, I'd tell the buyer "I'm not replacing working appliances". Those home inspector estimates of useful life are a joke. I bought a house with a 15 year old water heater and the inspector said it was an emergency item. 10 years later, I replaced it just because I was replacing some other stuff and had a plumber over already- it never failed. In that case, the labor was $100 since the plumber was already there to do other things.
If they pushed me and I needed the deal to not fall through, I would give them $750 tops.
If I am buying a house, I want credits. I would never want the seller to fix anything. He's on the way out of the house; he's not looking for the best. He's looking for the cheapest that fulfills the agreement.
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