Home Warranty Basics

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Whether you’re a homebuyer or seller, a home warranty can give you peace of mind. Also known as a home service contract, the home warranty typically covers mechanical systems and built-in appliances in the home.

Not to be confused with homeowner’s insurance, which covers damage from external forces, home warranties are designed to fill the gap between the original manufacturer’s warranty and normal wear and tear, according to HomeServiceContract.org.

Here’s how it works. If your AC goes out, or your dishwasher breaks, you contact the home service company and describe the problem. The dispatcher will send the appropriate licensed plumber, electrician, or appliance repair specialist to service the call. Expect to pay a service fee of about $50 or higher for each visit.

Remember that home warranties don’t provide blanket service. They don’t cover repairs or replacement for pre-existing conditions or for elderly mechanicals that are beyond their useful lifespan. But they are good for emergencies if your toddler clogs the toilet trying to “wash” his teddy bear.

For home sellers, home service contracts improve the home’s marketability to homebuyers and diminishes liability. For buyers, warranties can absorb the costs of unexpected repairs or replacements. Extended coverage for non-built-ins such as clothes washers, dryers, and stand-alone refrigerators is usually available.

When you think about the wide range of systems and appliances that it takes to operate your home, a home service contract is a bargain at approximately $400 to $500 and could pay for itself with one use.

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Working with a Real Professional

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When you’re searching for a home, it makes sense to put all available resources to work for you. That’s why it’s tempting for some buyers to communicate with more than one real estate professional. But, using multiple professionals in the same area could work against you.

Real estate professionals are state-licensed and most choose to specialize in their own cities or their own neighborhoods. They have access to the same multiple listing data as others in the area. If you’re working with multiple agents, sooner or later they’ll find out, and you may miss being the first to see new listings coming onto the market. They’ll show those to dedicated buyers before notifying you.

Your Real Estate with Fab Team with Berkshire Hathaway network professional has all the information, contacts, and experience you need to find a home, plus the backing of one of the most respected names in the real estate industry. He or she will network with other professionals to help you meet your goals. With such a strong support system, you’ll be quickly apprised of relevant homes for sale as well as those coming on the market.

Be honest about your means, goals and preferences so your professional can meet your expectations.

44 Mercy St, Providence, RI

44 Mercy St, Providence, RI

OPEN HOUSE December 01, Saturday 11:00 AM – 1:00 PM

$ Click for current price
3 BEDROOMS | 2 Baths(2 full ) BATHROOMS | 1256 SqFt

Why rent when you can own a spacious newly renovated home offering 3 bedrooms, 2 Bathrooms. Updated Kitchen with stainless steel appliances, new roof, new flooring , bluethooth enable bathrooms and living room,


 

Remodeling Trend to Rise

According to the Federal Reserve, the primary residence accounts for about one-quarter of all assets held by households, ahead of other financial assets, business interests and retirement accounts.

It’s important to protect the value of your home by keeping it repaired and updated. Not only does an update make a home more attractive, it should improve functionality, make it more comfortable, increase the enjoyment, and increase the value, upping the chances of a higher resale price.

If you’re planning on making home improvements, you’re in good company. Home improvement spending is expected to increase by seven percent over the next year, according to research by the Joint Center for Housing Studies of Harvard University. Homeowners will spend about $350 billion on updates by mid-year 2019, confident that they’re making a good investment, thanks to rising home values and a growing economy.

How are they spending their money? The National Association of Home Builders (NAHB) said in May 2018 that bathrooms have overtaken kitchens as the number one remodeling choice.

NAHB surveys of homeowners who recently remodeled their homes found that over four out of five remodeled baths (81%) while 78% remodeled kitchens. Nearly half of respondents replaced doors, remodeled whole homes or added a room to existing homes. Most homeowners start with smaller projects such as new front doors, green-friendly appliances, programmable thermostats, low-emissivity windows and new HVACs.

As home remodeling continues to be popular, you will likely to see increased benefits from your home improvements.

4 Elaine Circle, Hudson, MA

4 Elaine Circle, Hudson, MA

$ Click for current price
4 BEDROOMS | 3 (2 full, 1 half ) BATHROOMS | 2588 SQUARE FEET

Newer Single Family Colonial, with 2588 sqft. of living space on 3.29 acre lot. This colonial situated in a cul de sac neighborhood is convenient to all major routes. This home features 4 generously sized bedrooms with ample closet space and 2.5 baths. The first floor is made up of a family room with fireplace, a formal living which leads into the dining room perfect for entertaining. Kitchen featuring maple cabinets with granite counter tops and a kitchen island, off the kitchen is a fantastic private deck overlooking spacious yard. Your master suite is over sized with huge walk in closet with master bath. Original owner has meticulously maintained this home.