Nichelle's Monthly Real Estate Tip!Nichelle Brunner, Realtor(262) 515-3423Here's an interesting video I came across last summer on selling your home during the HOTTEST months of the year:To search
So you did everything right. You saved for a good down payment, moving expenses and even had a little left over for an emergency fund. Even with doing all that why is it you have nothing left a year after buying your house. Well if you are like a lot of people that just bought a house you found out how expensive it can be to make repairs.
A furnace and air conditioning system can cost $5000 and up to replace. New stove another $400+. While you did plan like many others and had an emergency fund these repairs and replacements can quickly devastate what was left. Why does it always seem to happen in the first year after buying a house. Is it just bad luck? Did the previous owners buy inferior products? Even worse could they have been having problems and just had them fixed enough to make it to closing? No one can be sure why but there is a way to avoid the major costs after have just spent so much.
I high recommend home warranties for anyone that is just buying a house, not able to have a large enough emergency fund to cover repairs and replacements or someone who is unwilling to put up with the headache of finding a good contractor to perform the work. I don’t think they are for everyone. Some people have the gift of being good with their hands and can save more by repairing breakdowns themselves. Others have larger cash reserves that can absorb a hit much easier. But in the example above asking the sellers to include one with the sale for the first year could have minimized the headache until you were able to save more for such problems.
A $600 to $1000 policy is a small concession to ask for when buying a house. It covers repairs to furnaces, air conditioning, appliances, plumbing, roof leaks and so much more. With a policy you can have peace of mind knowing that several problems that may arise could be covered with a call to your provider and $50 deductible.