Benefits of a Property Warranty for Your Real Estate Investment
Being a property owner can be stressful once you find out that there’s some system or part of your property that is fading and aging that you had no idea. Maybe the seller was desperate to sell it and didn’t tell you that the plumbing service was a mess.
These things happen and it’s our job as Chris Price Reality to help you keep a peaceful mind. Safety isn’t just offered by the four walls that you are going to be in. As a company and still, as a friend, we advise that you keep an open mind and consider a property warranty.
Before you have a look at what the benefits are like, it’s important to understand the difference between property insurance and a warranty. Property insurance is where you get paid after the damage is made or created by accident. It can be that a fire broke out or that your crazy neighbor decided to break your window.
On the other hand, a property warranty is all about protecting the major systems and appliances within the premises. This means you will save money when your washer stops working all of a sudden or when you accidentally break your HVAC. The cost won’t be much as the policy will reduce the chances of paying the initial cost of the appliance or system.
The benefits of this policy are as follows:
1. Gives you peace of mind
As we have said, at Chris Price Realty our job is to give more than the four walls that you will be living in. An investment in a warranty assures that you have this in your locker. The great thing is you will continue to live your life with zero interruptions or minimal interruptions. The only thing that you need to do is to communicate that a major appliance or system is not working anymore. The peace of mind that comes with a home warranty is unbelievable.
Most likely, you will not blame the seller because you bought a property with a faulty AC system forever. You will use whatever systems it provides and whenever it breaks down you communicate with your service provider. Once you do so, they will make sure that you will receive the necessary repairs/ replacement that you need. All this is under the condition that you pay your annual premium.
2. Saves money
Compared to insurance, a property warranty is cheaper. Insurance is more impactful to your pocket in the long term because of large fees and changing terms in a year from an insurance adjudicator or the insurance company. A warranty might be a great strategy for sticking to a budget because it will cost less in the long-run.
The lesser the cost, means the lesser the expense. And cutting expenses is the fastest route to attaining your financial goals and bagging a financial nest.
3. No unwanted complaints
It might be a bad idea to look for the seller after you have made the purchase and started enjoying the benefits of real estate investment. A property owner can find it easy to point fingers to the other party and play the blame game. Most of the time this leads to an outcome that you didn’t want. Property warranty for your investment allows you to maintain a healthy relationship with the seller by not involving them at all in your business.
At Chris Price Realty, it is our job to inform our clients of the ins and outs of the Austin property market. As the #1 property investment company, we are at the forefront, offering sound and professional advice.
Get in touch with us today and receive a quote for our services.