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New Orleans Condos and Home Warranties, worth the expense?

     Home Warranties are insurance policies against the mechanical failing of items and those needing repairs.  Many items do break and you never know when or how they will go out.  The largest expense in a condo is generally when the a/c quits working properly.  This can get expensive to the tune of $1500-$1800.  Many time the units cannot be repaired and they need to be replaced.  Other items such as plumbing, electrical, stoves, appliances. fans, heaters can all be expensive to repair.

     As an agent I write a home warranty in all my contracts asking the seller to purchase one for my clients.  It will cost the seller $395 per year with a $50  deductible to the purchaser.   The sellers will generally do this to have peace of mind that the items will be repaired if they break.  Many items are going to be old and have no guarantees that they will last.  The sellers do not want you to have added expenses once you purchase.

    I ask the sellers to purchase one to relieve the purchaser of stressing over an old compressor or appliance that they fear is on its last leg.  This is never a hard sell unless the seller is just plain cheap and does understand the mindset of buyers.

     The purchaser can chose to renew it once the first year is up.  Then you have a better idea of the condition of your condo.  It has worked out well for many of my clients and many have never had to use them.  The warranty company sends me cards when they use the warranty so I know they are saving my clients money.

     I use First American Home Warranty not because the rep is nice and pretty but they do the job when it comes time to use them.  The are established and easy to work with. I know my clients use the services as they send me a card when repairs are needed.  They are always responsive to my questions and my clients needs.  I have many horror stories of people who use other home warranties and are not satisfied.  All home warranty companies are not created equal.  Botton Line, its a nice thing to have!!!! 

New Orleans Home warranties

 

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  1. lana

    I do agree. Many home buyers do purchase a second year …especially after they have experienced a need in the first year of the home warranty!
    Now not all sellers are “cheap”…some may owe more then they are selling their property for…and that makes a cautious seller!
    And I do agree it is a wise choice to buy one whenever one can!!!!
    lana

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Eric Bouler Realtor
Gardner Realtors
Metairie - New Orleans, La. USA