When you're buying a home, especially for the first time, it’s easy to get overwhelmed by all the new terms thrown at you—one of which might be a home warranty. So, what exactly is it? Simply put, a home warranty is a service contract that helps cover the repair or replacement of major home systems and appliances when they break down due to normal wear and tear. It’s like a safety net for homeowners, saving you from the stress of sudden, costly repairs that typically aren’t covered by homeowners insurance.
Now, what does a home warranty usually cover? Well, it’s things like your HVAC system (heating, ventilation, and air conditioning), electrical, plumbing, water heaters, kitchen appliances, and more. However, not all home warranties are the same—different companies might cover different items, so it’s important to read the fine print before committing.
Typically, these warranties last for about a year, and during that time, if something breaks, you can file a claim with the warranty company to either repair or replace the faulty system or appliance. But again, it depends on what’s included in your particular plan.
When it comes to who buys the home warranty, things can vary. Sometimes, sellers will offer to cover the cost as a perk to make their listing more attractive to buyers, especially in competitive markets. Other times, buyers might choose to purchase one themselves after closing. It’s all negotiable and can be worked out during the buying process.
For those eyeing a new construction home in Massachusetts, you should know there’s an additional layer of protection in place for you. State law requires builders to provide an “Implied Warranty of Habitability,” which covers any major defects that could impact the livability of the home. This warranty typically lasts for one year from the date of closing or occupancy and protects you against serious structural issues, electrical or plumbing malfunctions, and more. Unlike a regular home warranty, which covers a broader range of systems and appliances, the Implied Warranty of Habitability is strictly about ensuring your new home is livable.
So, while it’s helpful to understand what a home warranty can do for you, it’s also essential to know what it doesn’t cover. That’s where the Implied Warranty of Habitability comes in handy for new builds in Massachusetts—it’s there to ensure your home’s major components are up to par.
If you’re considering a home warranty, make sure you take the time to really evaluate your options. Research different providers, talk to your real estate agent, and see what’s best for your situation. Home warranties can offer peace of mind, but the key is choosing the right one for you.
Good luck with your home-buying journey—it’s an exciting time, and the right protections can help make it as smooth as possible!
Ready to start the home search process? I’d love to help you find your perfect home! Whether you’re a first-time buyer or looking for new construction, I can guide you through the process and answer any questions about home warranties, neighborhoods, and more. Reach out today, and let's get started on finding the home that fits your needs!