When you are selling your home you have so many concerns during the process. You have to worry about issues like pricing and staging. There is also everything else it takes to get your home on the market. Then the moment comes and you get an amazing offer. You sign it and you are under contract. Finally, it feels like you can breath a sigh of relief. However, there is still one major aspect of concern, the inspection. It is very rare for a home to pass a home inspection without at least a couple of minor issues coming to light. So about a week later the home inspector comes and checks everything out. Then you get an inspection objection back from the buyers agent. You look at the list and wonder to yourself if it is cheaper to fix inspection objections or buy a home warranty.
Fix Inspection Objections or Buy Home Warranty: Cost
When looking at if it is cheaper to fix inspection objection issues or buy a home warranty the biggest thing to be concerned with is cost. It probably doesn’t make sense to provide a $500 home warranty if the issues brought to light during the inspection cost less to address. Relatively minor issues like
You also have to look at if the potential issue is a perceived concern or a real concern. A perceived concern for example is a water heater that is older than its usable life. For this specific home component this is about 10 years old or more. However, this water heater still functions. There is only the question of how long this will remain the case. For this type of issue a home warranty is an adequate way to address this perceived concern. A new water heater would run you about $1,000. A home warranty for a period of 1 year would cost you about $500.
A real concern is that the same water heater in question is no longer functioning. In this case a buyer would be unlikely to accept a home warranty and would instead expect a replacement of this component. Generally, home warranties are the best answer to old components that still function, but not for components that no longer function. This is because most home warranties will not cover items that were demonstrated to already be broken at time of inspection.
Hopefully, that helps clear up the question of if it is better to fix inspection objections or buy a home warranty. When you work with us we always take the time to walk you through your best options. We also have a list of trusted vendors who can do great work on your home at a fair price. If you have any specific questions please contact us. We are always happy to help.