Home warranty for a just purchased primary residence? Yay or Nay?

2 Replies

Hi BP Community,

I just purchased a home built in 2001 as my new primary residence.  I am closing on it in a few days and was asked whether or not I wanted to purchase a home warranty on it.  I had a couple of questions for those of you that have had experience with this.

Is there any benefit to getting a home warranty at closing rather than sometime afterwards. Is it cheaper if I buy it at closing?

What's your general thought to buying a home warranty for a primary residence vs rental property?

Where can I get the best deal on a home warranty usually? (direct with the company, through a realtor, online?)

I am considering the warranty because the previous owners have had some issues with plumbing and also the fact that the appliances are all about 15 yrs old now so was thinking about getting it at least for the first year.

Thanks,

Vinson

I had one on my house for the first year (realtor gift, American Home Shield) and it was great. But the house was 36 years old. If there are borderline issues (furnace or water heater about to go) then (if you don't negotiate those fixes into the deal already) it might be worth it. Otherwise save the few hundred bucks.

Promotion
Sundae
Property Marketplace
Find Professionally Vetted Properties from Motivated Sellers
Eliminate the need to hunt for houses again. We bring your next investment opportunity to you.
Sign Up for Free