“Can a home warranty fast track the sale of your home.” It just might says a recent piece in the Lodi (CA) News-Sentinel under the headline: Some buyers see great value in home warranties. It’s refreshing to see an article associating a home warranty with value. Too often, home warranties, extended warranties and service contracts are portrayed — inaccurately — as a waste of money.
As the article points out, home warranties provide a buyer with peace of mind and are relatively inexpensive in the context of a home sale. The author, Eileen Schamber, president of the Lodi Association realtors, also posits that “[s]ome buyers see a huge value in the seller offering a home protection plan,” which may translate to a quicker sale. She reasons that because home buying is highly stressful, a home warranty that protects the buyers against unpredictable and vexing appliance and home systems failures can put potential buyers at ease. And because a buyer need not set aside as much money for unanticipated emergency repairs, he or she may be more flexible in negotiating a purchase price.
Ms. Schamber makes valid, common sense points frequently overlooked by the media when it mentions, or as it frequently does criticizes, home warranties and other product protection plans. Economic times being what they are, appreciation for the value proposition these products provide may be growing.