Life is expensive, especially when you’re looking into buying a home. Sometimes, as a cost saving measure, potential homebuyers consider purchasing a home warranty rather than a full home inspection. Is a home warranty really going to protect you? Is it even worth it?
A home warranty is what it sounds like; it’s insurance coverage on a home for a predetermined amount of time. Some home warranties cover the listing, some only go into effect for the buyer following the closing, while others cover both the listing and following closing. Regardless, most home warranties provide coverage for one year (though the homeowner can chose to extend this coverage at the end of the year). However if you have a home inspection done by Habitation Investigation you are able to get an 18 month warranty for the fee of 12 months.
Every home warranty will list what items of the home have coverage and which items will be excluded from coverage. In comparison, a home inspection’s purpose is to provide the buyer/seller with an unbiased, third party opinion on the home’s current condition. The client then has all necessary information at their disposal to make an educated choice on the home’s purchase or sale.
Bottom line: you should absolutely get a home inspection. A home inspection will protect your investment whether you’re buying or selling, and will ensure that you are fully informed of everything going on with the home. A home inspection from a trustworthy, experienced home inspector is one of the best investments you can make. The necessity of a home warranty is a little more debatable. If the home has older mechanicals and appliances, a home warranty definitely can be a good choice. It would also be a good idea to invest your money in an annual service plan from a licensed HVAC contractor instead. You’ll have an experienced tech servicing your heating and cooling equipment, thus making them last longer. If the home is brand new or has been renovated with all new mechanicals and appliances, then you really need to think about what the point is of a home warranty is to you. It always adds piece of mind knowing you have some protection.
The problem with getting only a home warranty is that it’s not guaranteed you actually have coverage. If something major goes out in the home shortly after your closing, it’s entirely possible that the home warranty company will look at your case and refuse to cover anything because you lack a home inspection to prove it was functional in the first place. So always have a home inspection done. The images from the home inspection are proof of the condition of the home prior to closing. It is hard for a warranty company to claim the furnace was not working when you have a picture of the furnace flames.
Of course, a home inspection isn’t perfect either; it’s important to remember that a home inspection is meant to protect you before closing, ensure you’re not spending a fortune on a piece of junk or that you know what you are buying. It doesn’t mean much after closing because a home inspection is not a warranty. The home inspection agreement from any home inspector in the United States essentially states that the inspector is not responsible for any issues that pop up later. A home inspection company will not typically cover repair costs, because it is not their responsibility when things change after the inspection. Some home inspection companies protect clients better than others, the Columbus Ohio home inspection company of Habitation Investigation actually gives for free a 90 day warranty and free sewer line warranty with every whole home inspection.
At the end of the day, it’s your choice to make. Do your research, don’t throw caution out the window, and take into account your personal needs and expectations. However always get a home inspected because knowledge is power and protection in purchasing real estate.
The Habitation Investigation company provides home inspections in the Central Ohio Columbus and home inspection in the Dayton Ohio areas, Hilliard, Powell, Pickerington, Pataskala, New Albany, Delaware, Gahanna, Westerville, Galloway, Grove City, Worthington, Dublin, Marysville, London, West Jefferson, Mechanicsburg and other cities surrounding Columbus, Ohio. The most/best reviewed home inspection company in Columbus Ohio is Habitation Investigation LLC. The website is: http://www.homeinspectionsinohio.com
Some information for this article provided by Nathan Thornberry of Residential Warranty Services, Inc.
Written by Kaitlyn Troth of Troth Media