You’re buying a house in Fort Collins — congratulations! Whether you already bought the home or you’re still browsing houses for sale, it’s normal to worry that something could go wrong, no matter if you’re a first-time homebuyer or you’ve done this before. Here at Ascent Real Estate Professionals, we aim to help you with the home-buying process and everything in between — including providing information on home warranties. Instead of missing a mortgage payment because of an unexpected expense like fixing the fridge, plumbing, or more, invest in a home warranty that best meets your needs.

First things first: a home warranty is a service contract that will cover the repair or replacement of major home components and appliances that tend to break down over time due to normal wear and tear. When you’re least expecting a major repair and your savings account isn’t ready, a home warranty can help soften the blow.

Examine Your Appliances

When you’re determining the need for a home warranty and to what extent you want coverage, there are some questions you should ask yourself about your current home appliances.

How much wear and tear is there already?

If your appliances have taken a beating over the years, that’s OK. A home warranty can still keep your machines in working order no matter how old they are, as long as you’re using them according to the manufacturer’s instructions.

Do you plan on replacing appliances soon?

Even if your previous home appliances are working fine, that doesn’t mean you won’t want to replace them at some point. After all, many first-time homebuyers are eager to get that new matching washing machine and dryer set when they’re looking at houses for sale.

These new appliances and systems almost always come with manufacturer’s warranties. This is wonderful, but look into what they’ll actually protect. They run out over time and they can be unit-specific. If you were to get a home warranty instead, you’d have more protection tailored to you and your appliances.

Are there any pre-existing problems?

If there are pre-existing conditions or problems with your home appliances, you may have a harder time finding a home warranty that works well for you. It’s possible, but there will be more limitations.

Look At The Cost

Prices will range, of course, but home warranties typically cost $350-$500 per year. This could save you from an expensive cost down the road, especially as a first-time homebuyer when your finances are tight.

Know Exactly What It Covers

Sometimes there are limits to how much a home warranty will end up paying out, or if something broke under certain circumstances out of the ordinary it may not be covered. Know your policy well and be sure to read the fine print. It would be disappointing to pay for your home warranty, expect help during a crisis, and then not receive it.

If you’re a first-time homebuyer in Fort Collins and need an experienced buyers agent to help you through the home-buying process, contact us. We’re real estate professionals with the experience you want when considering a purchase as large as a home.