Generally, the home warranty is referred to the warranty and insurance policy provided by the new home builder. The insurance is used to recover the damaged system of home appliances.
Do you want to know what is meant by home warranty? Which means the Company will pay the cost to repair or replace components of home appliances. As well as, the companies covers the plumbing, electrical system, heating, and refrigerator maintenance etc. Now, we discuss the types of home warranty and maintenance.
Home warranty types:
Commonly, the home warranty can be divided into 5 categories. Such as following under,
- Home owner warranty:
Homeowners who are really interesting to buy a new home they should apply the home warranty 90 days before.
- Seller home warranty:
If you want to sell the home, then you should purchase the seller home warranty.
- Buyer conversion warranty:
These types of warranty help to motivate the buyer to purchase a home. The warranties can be purchased by the seller and they transfer to the buyer on the day of closing.
- Buyer direct warranty:
The buyer direct warranty can be purchased by buyer or real estate agent. The buyer should purchase the warranties 90 days before.
- Renewal warranty contract:
It is otherwise called as the home warranty policy. You should renew the home warranty policy every year.
Why is the home warranty important?
A home warranty is must for all homeowners. The warranty helps to protect your home. If any of the damages occur in your home, you can easily repair your home appliances using the warranty policy so it is very important for every homeowner.
The above given these points are useful to new build home owner. Clearly, understanding the home warranty and maintenance before going to buy the new home from the seller.