Skip to main content

When you own a home, you have a lot of important decisions to make. You also have big responsibilities on your shoulders. This is the most significant investment you will make, so you need to do everything you can to get the most out of it. Repairing worn-out and broken-down parts of your home and updating other elements will keep it functional and looking nice. Of course, renovations can be costly. The good news is there is a way to reduce these costs and make things easier on your budget.

A California home warranty plan can help you manage the financial responsibilities of replacing and repairing certain systems and appliances in your home. This protection will cover the costs up to a certain limit on qualifying items. A home warranty may not make sense for everyone, so you should determine whether you are a good candidate and could benefit.

Consider How Old Your Home Is

For people who live in older homes, a home warranty is a good option. Older homes are much more likely to experience problems with the electrical system, plumbing, HVAC, and other elements. Repairing or replacing these parts of the home can cost thousands or even tens of thousands of dollars. Paying out of pocket for such work can be difficult, if not impossible, for many people. If your home is older than 10 years, you should strongly consider getting a home warranty. In homes this old, the systems and appliances will no longer have warranty coverage.

Conversely, homes less than 10 years old likely still have the original builder’s warranty. This means if these areas break down or fail, the warranty that came with the home should still be in effect. There would be no need to spend the money on an additional warranty.

How Long Will You Be in the Home?

Another way to answer this question is how long you plan on being in your current home. For many people, a home is a long-term investment. If you intend to live in the home for the next several years and beyond, it is wise to get a warranty. The costs of making repairs and replacements over time can add up. Think of the savings you could have if you were to get a warranty. However, if you know you will be moving within the next year or less, it may not make sense to spend the money on a warranty.

How Handy Are You?

Saving money is not the only reason to buy a home warranty. The costs to fix items can be high, but when you have a warranty, you can also rely on a professional to do the work. If you don’t have a warranty, you are either stuck doing the job yourself, or you will have to pay a contractor out of your pocket to do so.

Some people, however, have the skill and experience to do home improvements and renovations. Other homeowners even enjoy such tasks. You will spend less doing the work yourself than you would to hire a contractor. If you are handy and prefer do-it-yourself solutions, you may be better off not getting a warranty. You will have to evaluate the costs of warranties versus how much you would pay to do the work without professional help.

Are You Diligent About Maintenance and Upkeep?

An important facet of home warranties is that the plans do have limitations. The warranty will not be valid if you intentionally break something. Plus, it will not take effect if the failures occur because you did not perform routine maintenance and take reasonable steps to keep appliances and systems running well. If you have been good about doing tune-ups and improvements to appliances and other areas of the home, you will be able to count on a warranty. But if you have neglected these duties, you will not be able to qualify for such a plan.

A home warranty plan can protect you from having to pay many of the costs that come with home improvements and renovations. It can give you peace of mind and reduce stress. In some cases, you may need such coverage. Either way, consider these factors and ask yourself these questions. You can then make the right decision for your finances and homeownership.

Let’s Talk

You’ve got questions and we can’t wait to answer them.

We use cookies and tracking technology in connection with your activities on our website. By viewing and using our website, you consent to our use of cookies and tracking technology in accordance with our Privacy Policy.