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Is a Home Warranty Worth It?

Is a Home Warranty Worth It?

I’m asking because the answers I’ve come up with are either “I don’t know” or “It depends”. What has your experience been like?

We canceled the warranty on our home a few months ago, figuring that most of the things it would have covered have been replaced already. Plus I got a little fed up with the $45 service calls, whether they do any work or not. (Although one item, our washing machine, actually was replaced BY the warranty company.) Canceling the warranty feels a little like gambling to me, but we’re putting the money we would have spent on the warranty each month into an ING account for when we do need to make repairs.

Now the warranty on my Texas duplex is coming up for renewal. It’s $689 (for both sides) which seems like an awful lot. I think I’m going to renew since it has older appliances. Unless someone buys the duplex first that is. Then I’ll be paying for a warranty as part of the sale anyway I’m sure. I know it’s something that buyers appreciate, especially when they don’t have to pay for it out of pocket.

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  • I’ve had a home warranty on our last two homes. We sold our last home when the warranty was still in effect and saved a ton on some undiscovered needed repairs the buyer’s inspector turned up.

    In our new home, we were able to get faster service on a repair to a furnace than through regular channels. I’ve been pretty pleased with my experiences.

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