Do You Have a Home Warranty?

My realtor gifted me a home warranty for O. year when I bought my first home. (I was single at the time.) the dryer died and it replaced the dryer for he deductible...$100 I think.
But no--we don't have O. now.
I'm generally not a believer in "payments" for " in case" scenarios.
If it's $50-100 per month you'd probably be better off saving that in an emergency fund or something.

Each time we bought a house it came with a year worth. I have no idea which company we had or if they were the same both times.
The one thing I do know is that both times we didn't renew after the year expired because it was more hassle than it was worth.
It never failed, whatever was broken was "somehow" not actually covered. We still ended up paying for every repair ourselves and the service call to have them come out to tell us it wasn't covered. It became so absurd that we saved ourselves the service call price and just got it repaired ourselves from the get go.
Unless it is paid for from someone other than me..I'm not wasting my money.

I have a friend who purchased a home warranty when she bought her home. She pays a monthly fee and it frankly sounds like a pain in the butt. Her a/c has broken 2 summers in a row and it's like pulling teeth the get the warranty approved repair service to come out. Days on end in 90 degree heat...last summer they jerked her around with stalling and repairs and replacement for three weeks! NO THANK YOU! I'd rather take my chances and be able to call whomever I want!

No I do not have one. If you look at the premiums you will find saving the premium and then paying for things that come up cost less. It is a waste of money.

You are going to hear stories about someone who got a warranty and then had something go out a month later or something. This happens but it is rare. Most of the time what you are paying went to pay the difference between what they had paid in and what was paid out. So think about it this way, every success story here is like a lottery winner and you are buying a really expensive ticket.

NO... Why? Because if you need them , they only replace the bad parts of whatever is under warranty with like parts.

In my opinion, Complete ripoff .

We built our last 2 homes. We did not accept a home warranty. We also have a condo where daughter resides and no home warranty.

Fortunately, my hubby is resourceful when it comes to repairs and he does a lot himself, Upgrading as we go along.

As far as other things....it's a classic game to fix or pretend to fix something because bottom lline a warranty company will not replace with higher quality... Only "like" quality.

You come out ahead to save those premiums and put that money into quality replacements when needed.

I don't have a home warranty. If I can't fix it, I get my husband, and if he can't fix it, I get my cousin. I have been in my home for 17 years and owned a town home for ten years. I don't think they are necessary.

When we bought our house, it came with a one-year home warranty. I am glad that we didn't actually pay for the warranty directly. If you read the terms of the warranty, very few things are actually covered. Our experience was that nothing broke during that time that was actually covered. We did not renew...I am just not convinced that it is worth the money...

We have a home warranty through American Home Shield. About $24 a month. We have used it for things like hot water heater (which saved us about $1000) , stove, toilet repairs etc. We're pretty happy with them. We do have to pay a $50 service fee for the people who come out, but otherwise, that's been about it unless the service wasn't covered. (We had a call to a plumber for a drainage issue-- he wouldn't work on it as the utility sink is one of the old concrete 'widowmaker' kinds, as he called it. They don't cover any actions which would possibly harm their vendors.) A genuine leak or a piece on a major appliance needing repair-- we've had good luck with that.

I would look for what they cover and what they don't/won't and see if it makes sense for your lives/family/income.

We bought a home warranty when we bought a house in Tempe , AZ, ar the recommendation of our realtor who was a friend of a good friend. It cost around $250/ year. The first year the warranty paid to replace the whole house refrigerated a/c and the Swamp cooler too; thousands of dollars. We also had the hot water heater replaced.

They replaced these items right away with no hassle. I suggest those owners who had difficulty may have used a less reliable company. I would research the company on the Internet. Whether or not it would be useful depends on what is covered and the age and condition of those items in your home. We literally saved several thousand dollars.

I think it was American Home Shield.

I have Old Republic. I pay $52 a month and it paid for itself several times over with ac and plumbing repairs.

We had a home owners warranted with our last house. Generally they are bought when you buy a new home and it covers things like toilets, appliances etc. It's not a monthly fee it's purchased up front and it covers a set amount of time. If something breaks down you have to call the company they send someone out to fix it or replace it. We had a toilet leak. They sent a plumber who replaced it. The home owner has to pay a co pay. So it cost us $100 but that's cheap compared to what it would have cost to pay for the toilet and the plumber.

Ask your realtor for a good recommendation. The reason I say this is that most realtors have a good relationship with one company. You WILL have trouble getting the home warranty to pay claims (you just will - they don't make money by willingly paying for everything, so you'll have to be organized and persistent), and at times, it will be helpful to call your realtor, who can give the home warranty company a push.

That being said, I do know several people who have had their home warranty company cover sizable repairs. It wasn't easy to get the claims covered, but in the end, they were covered. If you aren't handy, it's a good idea to have a home warranty policy.

We bought our house last year, and didn't get a home warranty policy, but that's only because we own a construction company. ;)

I suppose if you build a new house with a contractor you get a warranty but when you buy a used house, like most people do, the owner is off the hook once the paperwork is signed for the most part.

If it is found they lied about something or mislead someone or just forgot to include something they can be held liable many years later.

In fact a friend of mine wanted a basement with additional bedrooms added on to her home. I was over there when the builder came and told her she had a big problem.

When they had broken ground to dig the basement they'd found a septic tank. The owner had sold the house to my friend as attached to city sewer. When it all came out the previous owner had bought the house the same way, the owner before him had also bought it as attached to city sewers.

It went back about 4 previous owners and that previous owner had to take care of the charges and other things associated from selling this house with false information. He said he hadn't known but he had it built and should have known it wasn't on city sewer.

The thing is, too, that the city had to pay back all the money it had collected from all those previous owners since they'd been paying for sewer connections they weren't hooked up to.

So even though that original owner hadn't lived there in many years he had sold the house improperly with vital information left off.

When my sister has bought her homes she has had an inspection and accepted the house according to that inspection. When they've sold their house the buyers had it inspected too. She and her husband have had to fix several things over the years that weren't what the inspector wanted to see. When the paperwork was signed though they were out from under the house, they didn't warranty it at all. That's what the inspection is for.

If you watch any of those home buyer shows on TV they always find major stuff wrong and they're on the hook for it because they bought the house.

So I don't think you get a warranty with a used house that someone else has already lived in. It's the buyer that needs to get the house inspected so they'll know mostly what's going on with it.