Home Warranty Plans, yay or nay??!

Dubois, IN · Member since 2016 · 120 posts · 16 votes

What's everyone's opinion on buying home warranty for your rentals??? My real estate agent suggested it. I never really thought about it...... Any input would be great!

0 Reply

177 views

Most Popular Reply

Mindy JensenPro Member

BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes

As I work here at BiggerPockets, I must temper my comments. Plus we don't allow profanity in the forums. But I would say (nicely) that it should be a crime punishable by multiple years in prison to murder a tree in order to print the worthless policy out.

Absolutely nothing that breaks is covered.

[email protected]Podcast Guest on Show #261

10 Reply

See this reply in the discussion

26 Replies

Jump to latestLatest

Sort by

Edward Seid
Real Estate Agent · Seattle, WA · Member since 2014 · 87 posts · 39 votes
7y
The best home warranties are the free ones...
If you're buying a rental, see if the seller can purchase one for you. That or work with an escrow company that will provide you one for free for working with them.
I agree with @Adrian Chu, depending on how hold your appliances are, I would opt for home warranty if the cost of it makes sense. Here in Seattle its like $500 for a 1 year home warranty. Service call is $150-200 and repair starts at 300-400. If you have your own handyman, that price could be significantly lower. Read what the warranty covers too.
Another idea I'd suggest is to have your real estate agent pay for your home warranty out of his/her commission since its deductible.
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.