Homeownership offers a variety of benefits. Living in the Southwest is specifically appealing with its active lifestyle, stunning scenery, and warm weather year-round. However, owning a home in the Southwest also brings exposure to extreme heat, monsoon rains, dust storms and microbursts that can all cause damage and require expensive repairs. While home insurance will cover some issues, it is valuable to consider securing a home warranty to further protect your investment. This blog will discuss reasons for purchasing a home warranty in the Southwest.
1. Protect home from extreme weather damage
The Southwest is largely a desert and known for its extreme heat and storm patterns, which include monsoon storms and scorching summer heat. Storms can cause downed trees, water damage and roof wear and tear. Residents in the Southwest can also expect to run their air conditioning units 24/7, which takes its toll on the equipment and a home’s electrical systems. A home warranty will provide coverage for these essential systems, covering repairs or replacements needed due to wear and tear or breakdowns.
2. Limit financial risks
Home repairs can be extremely costly, particularly if or when major systems or appliances break without warning. Budgeting for repairs and replacement is difficult and the cost can be a strain for most homeowners. A home warranty helps to mitigate the financial unknowns brought on by unforeseen issues. You can relax a little knowing a home warranty will significantly reduce the cost of repair or replacement depending on the policy and the coverage limits.
3. Offer convenience and peace of mind
Managing home repairs can be time consuming and stressful, especially when unanticipated breakdowns occur. It can be difficult finding trustworthy contractors, negotiating prices and managing the repair process. This process is made easier by a home warranty which offers a network of screened service providers that can quickly take care of repairs and allowing a homeowner to focus on other demands of work and family.
4. Deliver comprehensive coverage
In the Southwest, home warranties typically provide coverage for a variety of items, such as heating and cooling systems, plumbing, electrical systems and appliances. Some providers might also provide optional additional coverage for items such as pools, spas or even solar panels. Purchasing a home warranty with comprehensive coverage reduces the need to worry and helps avoid difficulties in addressing potential problems that can arise.
5. Increase resale value
Purchasing a home warranty can increase the value of your house when listing a home to sell. Including a home warranty when selling a house can entice potential buyers, especially when selling an older home. It gives a new owner assurance that major systems and appliances will be covered in the event of any problems following the purchase. It also adds a further level of assurance that helps set your property apart from competing listings, which can potentially lead to a quicker sale at a higher price.
For homeowners in the Southwest, a home warranty can be a worthwhile investment to consider. The annual cost to purchase a home warranty is approximately $500 – $700 with the option for paying monthly. Then, should something major in the house break and need replacing or repair, the warranty protection lessens the financial and emotional stress resulting from unexpected expenses. Whether you are a first-time buyer or seasoned homeowner, it is wise to spend the time researching trustworthy home warranty companies and considering a plan that meets your needs.
Landmark Title has an experienced team of escrow officers that ensure a secure and seamless closing . Our team of professionals has the knowledge and expertise to answer any title and escrow questions and we work with reputable realtors that can assist with questions about home warranties. Please contact us to speak to one of our team members and learn more about our services.