How Home Warranty Can Enhance Your Home Value

Buying a house is for more than just upgrading your status and living the life you want. When looking for a house, there are various things you want to tick off. Yes, things like exploring the neighborhood and checking if the property price meets your budget are important.

Additionally, you would also want to prepare for what is to come. That is, regardless of whether buying the home is a long-term or short-term investment, you may need to sell it in the future. When the time comes, you would want to sell your home for a profit.

Now, one thing to say, “I want to get profit from my home sale.” But how you can make it happen is another story. To help you understand that story and make it easier for you to sell your house for a profit, a home warranty can be your superhero.

We are about to talk about warranty coverages and how they can amplify your home value for earning a profit when you sell your property.

Key Takeaways

Talk about Home Warranties

Imagine this. You are about to host a big party and want everything to be perfect. With over a week left for the party, your home lights start flickering, and the electrical outlets stop working.

Since you will have a lot on your plate with making other arrangements, you may not have the time to find a reliable electrician to fix the electricity issues. And luckily, you don’t have to. All you need to do is have the right home warranty coverage.

A home warranty is a contract between you and the service provider to cover the maintenance and repairs for your home components. These include your kitchen, laundry, washroom, and other appliances, as well as systems like HVAC, plumbing, electrical, and more.

On top of appliances and systems, you can also opt for additional coverages for swimming pools, roof leaks, and pest controls.

One of the biggest home warranty benefits is that it reduces your maintenance and repair costs, along with protecting you from the hassle of finding the right service provider for the job. The warranty company will take care of all this while you take care of your usual day-to-day activities.

With home warranty providers just a call away, you can speed up the repair and maintenance. So, if you had electrical coverage when your party was approaching, you can ensure you have the light flickering issue and electrical outlets fixed.

Not the Same Home Insurance

Yes, home warranties with home insurance provide very similar coverages. But the fact is, both are different.

We have talked about how home insurance looks for repairs and maintenance for breakages and malfunctions. You can claim a home warranty if there the component experiences wear and tear or for regular maintenance.

On the other hand, home insurance covers damages caused by unexpected events like a natural disaster, your home being robbed, or something else. That is how the home warranty benefits are different than those of home insurance.

How Can Warranties Increase Your Home Value

Now that the explanation of home warranties is done, it is time to talk about the home warranty benefits when you want to sell your property. Home warranties enhance your home value and increase your chances of striking a favorable deal when you decide to sell the house.

Here are some of the home warranty benefits for triggering the growth in home value.

Competitive Edge

When buyers step out, they might have multiple property options to choose from. It can be a tough ask for you to stand out and make the sellers go, “This is the house I want.” As difficult as it is, home warranties can make it happen and increase your property demand.

The buyer would prefer your house covered with a warranty plan as they may have fewer concerns about whether the property is in good shape. They might assume since you have experienced the home warranty benefits during your time living on the property, all repairs would be up to date.

This perception increases your home value in the eyes of the buyer and helps you close the deal faster.

Ace the Home Inspection

Before finalizing the deal, home buyers usually schedule a home inspection to assess property conditions. When you have the major home components covered with the home warranty plans, you will likely have the perfect home inspection to clear the doubts buyers might have.

Having a flawless home inspection gives you more room to up your home value and sell your house for the preferred terms.

Increased Confidence

Normally, home inspections will help buyers understand the current property conditions. But most buyers might still doubt if the maintenance is up to schedule. They would not want to move in and be bombarded with home maintenance expenses.

When the buyers know you have had the home components covered with a home warranty plan, it is a message that home maintenance won’t be an issue for them. This can save them a large amount of money when they move in, which increases your home value and demand.

Lay Down a Premium Offer

Another one of the home warranty benefits at the time of selling is that you can quote a high price for your property.

With the multiple factors that we have seen, from having a competitive edge and passing a home inspection to increasing the buyers’ confidence, not many would want to miss out on a home warranty-covered property.

In addition to impressing the buyers, ensuring you make regular repairs and maintenance will also appreciate your home value. That means you can secure a good deal on your property sale and earn a profit.

Wrapping it up

These are some reasons why opting for a home warranty amplifies your home value. You can save a lot of time when selling your house because there will be fewer negotiations. Not the home warranty benefits you would want to pass, right?

So, are you thinking of selling your home? If so, you would also need to hunt for a property you will move in. For that, if you are looking for a reliable real estate platform to start, HAR.com can be your answer.

You will find a large number of property types listed here. Some of the property types include residential, apartments, and condos. This is where you might find the property that has long alluded you.