All About Home Warranties

by Michael Tarallo 01/12/2020

You may have heard about home warranties, but are unsure of what they are. A home warranty is an excellent addition to your home insurance and has a particular function. When you buy a home, the last thing you want to worry about is things breaking or malfunctioning in the house after you buy it. Buyers fear the expenses they may incur if items in the home start to break down shortly after the property becomes theirs. As a first-time homebuyer, a home warranty can be incredibly helpful since you may need a crash course on home maintenance. 


Depending on what’s the norm for homebuyers locally, either the buyer or the seller will pay for the home warranty. Some sellers pay for warranties up front as an extra assurance to the buyer of the property they’re about to purchase. Sellers also use this as an excellent tactic to “wash their hands” of the property. The buyer won’t need to contact the seller if something goes wrong with the property. A home warranty is a fairly inexpensive way to show buyers that appliances and the home itself have been well taken care of. Occasionally, real estate agents will give buyers a home warranty as a gift for their business. Usually, this is done for higher-end homes. 


Home warranties aren’t very expensive. They usually range in price around a few hundred dollars in cost. The cost is based on a yearly rate and can be renewed each year at a slightly higher premium. 


How Do The Warranties Work?


The warranty provider works with specific companies for different purposes. When the homeowner calls the warranty provider to let them know there’s a problem, the service provider will call the homeowner to make arrangements to fix the problem. If an appliance cannot be repaired, the warranty company may replace the item. There are usually small service fees associated with these repairs and replacements.


Is Anything Not Covered?


A home warranty will not cover numerous items around the house. These items include:


Outdoor fixtures and plumbing

Indoor plumbing fixtures

Pools

Hot tubs

Some appliances may not be covered

Heating system

Water heaters

Cooling system

Fans


Home warranty plans can vary based on your location and the type of policy. Make sure you review what’s covered before you finalize any home warranty. It’s an individual choice that homeowners make to have a peace of mind when moving into a new place.  

About the Author
Author

Michael Tarallo

MEET MICHAEL 

Michael Tarallo is the tenacious, confident real estate professional needed for today's complex real estate world. With his comprehensive understanding of people and the process he will guide and assist you with your sale, purchase or investment. An excellent negotiator and all-around business savvy determined to deliver results.

A former Mount Kisco and current Pound Ridge resident, Michael has extensive knowledge of the local towns of Mount Kisco, Bedford, Bedford Hills, Katonah and Pound Ridge as well as the surroundings areas from the Bronx, through Westchester, Putnam, and Dutchess counties.

NYS Licensed Associate Real Estate Broker, member of the National Association of Realtors® (NAR), the New York State Association of Realtors® (NYSAR), the Hudson Gateway Association of Realtors® (HGAR), the Hudson Gateway Multiple Listing Service (HGMLS) and the Mid-Hudson Multiple Listing Service (MHMLS).

A Pace University grad with a BBA in Marketing, Five Star Professional 2017-2019, Top Producer 2016-2019.

Michael is accessible, energetic and ready to serve your real estate needs.

Born and raised in the Bronx, he now currently resides in Pound Ridge with wife Christine and 2 children, Michael Jr. and Angela. Michael is also a volunteer at the Pound Ridge Ambulance Corps.