A good tip for buying a home on the Russian River is to get yourself a Home Warranty! Home warranties are great tools that can come in handy for any homeowner. A home warranty differs from homeowners insurance in that it tends to cover different conditions than homeowners insurance would cover.
What is a Home Warranty And Why Do I need One If I Am Purchasing Russian River Real Estate?
Let me begin by answering the obvious question...what IS a home warranty? A Home warranty is often refereed to as a home service contract. Basically it is a contract between the homeowner and the home warranty company, in which the homeowner pays a one time fee for usually a year long contract and the company covers the cost of the repairs on things such as heating, cooling, electrical, plumbing, and sometimes home appliances. Each company has a slightly different contract so a homeowner will need to check carefully to see what is covered and what is not covered. Now why is this important if you are investing in Russian River real estate? Well, consider this...seller Sally is lists her home for sale and buyer Bob decides to buy it. Thirty days later the transaction closes and buyer Bob moves his family into their brand new home. Unfortunately less than a week later the refrigerator breaks now buyer Bob is stuck having to buy a brand new fridge! If buyer Bob had purchased a home warranty then it would have probably covered the fridge and buyer bob would not have been left to cover it himself. It is important especially for first time home buyers who are looking at property for sale on the Russian River to consider a home warranty. First time home buyers often don't realize all of the things that go into maintaining a rural property and a home warranty can help cut the cost and protect any homeowner in the event that something breaks after the transaction is finalized.
How Is This Different Than Homeowners Insurance?
This is a common question that anyone purchasing Russian River real estate would want to know the answer to. The easy answer is that homeowner's insurance covers different things than a home warranty. For instance homeowners insurance is designed to cover your home against accidental damage such as the neighbors teenager driving a car through your front door while learning to drive, as well as, damage to your belongings due to theft in the tragic instance where your home is broken into(let's hope that doesn't happen). It will also cover damage from disasters such as storms, fires, and some natural disasters. A home warranty typically will repair or replace items such as HVAC, electrical, plumbing, kitchen appliances, washer/dryer, and so on and is usually associated with normal wear and tear on your home. Unlike homeowners insurance, which is paid monthly, there is a set one time fee for a set term(such as a year long contract).
Let's face it... things break and sometimes they are expensive, so having a home warranty to cover you in the event that you have something break is smart and responsible. Also IF something breaks you will be so relieved to know that you have protection and someone to send the bill to.