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Ask the REALTOR: Is a home warranty worth it?

By in Ask the REALTOR® with 0 Comments

Ask the REALTOR® is a regular video series in which I answer your most commonly-asked real estate questions, with a new Q&A posting every week. If YOU have a real estate question for me, drop me a note here.

This week’s question: Is a home warranty worth it? Here’s the answer in this brief video, and don’t miss the transcript below.

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Transcript:

Hi, this is Cari McGee with Keller Williams Realty. Welcome to this week’s episode of “Ask the Realtor.” Every week, I answer questions from buyers and sellers — and pretty much everyone in between — regarding real estate.

This week’s question is, “Cari, is a home warranty worth it?”

Well, I think it depends on who you ask. There are pros and cons to both sides. I’ve always remembered something that I read in Consumer Reports many years ago, and, in fact, I just found this quote online. “Consumer Reports has long recommended that consumers put the money they would otherwise spend on a home warranty or service contract into a savings account dedicated to product repair and replacement.” Therefore, we learned that Consumer Reports is not necessarily a big fan or proponent of them.

However, I know from real-world experience — I have had clients who are in their home day two, so obviously wouldn’t have had an opportunity to put together any sort of savings account dedicated to replacing or repairing household goods. Again, it’s day two and their HVAC completely goes kaput or some other major system in the house has a huge issue. Because they have a home warranty in place, it’s all taken care of. They’re only out the cost of the service call.

Again, there are pros and cons, and I think if you spoke with somebody who absolutely benefited by a home warranty company, or, excuse me, a home warranty being in place, they would tell you 100% they’re worth it. If you spoke to somebody who paid money for years into a home warranty and never had to take advantage of it, I think that they would say it was a complete waste of money. If you have any questions, by all means, talk to your real estate professional. I will completely share that with any client if they’re asking me about home warranties. I do give them both sides of the story.

If you have any other questions for me, non-home warranty-related, by all means, give me a shout via any one of the methods that follow on the next screen. Thanks so much. Bye-bye.

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

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