Success from home warranty? If so, any recommendations?

Question

Hi guys, my first ever post! To keep it short, I am under contract for a rental property and after inspection it seems there are some things that need to be replaced soon as some are running beyond its lifeline (e.g. water heater has not been replaced for 19 years). After bringing this up to the seller, they told us they will get me a home warranty of my choice instead of a direct credit to repair/replace any of these items. My question is what has been your respective experiences with home warranty? Been hearing a lot of negative things so far, so I am more inclined to hear those who have success stories in which whatever you wanted to be fixed, they came through.

For those who are in the DFW area that have recommendations to a home warranty provider, send them over!

Lucia Rushton · Answer

@Jack Lee I have used several and the one I use now if my preferred here in DFW. Dm me and I will give you their name. I personally do not use the big guys.

Eliott Elias · Answer

I have a good home warranty agent. Shoot me a DM

Carl Morgan · Answer

I doubt the home warranty company would pay for a water replacement or that age.  It's a "warranty" for things that break during their useful lifetime not outside of that lifetime.  The water heater was probably only rated for 8 ton12 years.

Home warranty's have their place, but they're not a cure all

Jack Lee · Answer

Thank you sir for the price range!

Jack Lee · Answer

Thanks John for the price range and your experience with water heaters. This will be my first investment property ever, so can really use advice like these!

John Teachout · Answer

Most lower end water heaters run from about $400 to $700 depending and then installation can be all over the place depending on whether permits need to be pulled, etc. I would think average installed cost would be $800 to $1000.00.

The life of water heaters is totally random and unpredictable. I've had them fail in 4 years (gas control valve) and the one in our home is from 2001 and working fine (electric). I never replace them unless they break.

Carl Morgan · Answer

Depends on size, brand, type (electric, gas, electric heat pump style).

I just replaced my gas one at rental and I went with the 12yr rated one and bought the Allstate protection plan for $69 that gives me 5 more years after the 12 yr manufactures warranty.  Maybe I went overboard, but now I know my water heater is warranted for at least 17 yrs.

I think the water heater cost about $800 and install cost and updating to code costs about $400

Jack Lee · Answer

Yeah that's what I figured as well Carl, what would be your cost estimate for a brand new water heater?

Success from home warranty? If so, any recommendations?

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