Home warranty plans what you should look for

Home warranties can have a hefty upfront cost that can range from $340-$475 for basic coverage. A lot of consumers may argue that there to expensive and they don't really need them in most cases anyway.  Although it may be true that the upfront cost of a warranty can be steep the savings are usually seen on the back end. For example your at home it's the holiday weekend and your the host. Amid all the confusion of cleaning your home, buying groceries & making a huge dinner your dishwasher goes out. Even though you are already swamped preparing the house for your guest now your forced to make time to call 5 or 6 different repair companies to find out how much they will charge just to come out and look at the dishwasher & what the cost would be to fix it.

Now look at the same scenario but this time you have a Home Warranty. It would take about 5 min. to call your warranty company and set up a convenient time for them to come out. The service charge would more than likely be less than 100.00 dollars most start at just $55.00. 

With all the home warranty plans out there what should you look for?

Here are a few basic features that should be offered

*Electrical-electric wiring, circuit breakers, burglar alarms & fire alarms, exhaust fans, central vac systems 

  telephone wiring, garage door opener,ceiling fans    

plumbing- tank leaks, pipe leaks, sump pumps, Water heaters, toilets,drain line stoppages
Kitchen Appliances- range, refrigerator, dishwasher,instant hot water dispenser,trash compactor, garbage disposal, built-in microwave ovens
Heating system- duct work ,interior gas lines, thermostats, interior gas lines,multiple units,duct work,geothermal
Air conditioning- motor valves and coils, leaks in refrigerant lines, motor, belts and pulleys, fuses, breakers

Additional Coverage can also be purchased for an additional premium

There are exclusions for each plan out there so ask questions.
A few common exclusions are filtered water towers,humidifiers, coal or wood burning equipment,fuel or propane gas storage tanks,meter boxes,data wiring

 ** Remember to read the terms and conditions page.
There may be conditions on Condos and Multi family units that each option available must be purchased separately. For leased units coverage for a home may only be available to the lessee.

 If you plan to move before your warranty expires find out if it is transferable & if it will be a fee to transfer it. If trying to sell or rent your home that may be an added bonus of why the buyer or renter should consider your home above all the others.

Do your homework before choosing a plan. Find ways to tailor that plan to fit your needs. Above all else remember you are the consumer it's your business these companies are trying to capture. Use that to your full advantage. As always be savvy not sorry!

**A few home warranty companies to start with**
             America's 2-10 warranty -www.2-10agent.com
            Old republic home warranty plan-www.orhp.com 800-445-6999
            First American Home Buyers Protection Plan-1800-992-3400

For those reading my blog I want to extend a personal thank you. Mr. Patrick who ever you are I receive you wonderful comments and want to thank you for taking the time out to express yourself on my blog.



                           


                         

10 ways to save energy in your home!

These days we all are trying to cut back on our lavish expenses and find ways to save money. Your home can be one of the best ways to do that. I am not talking about the expensive ways such as putting a solar energy roof on the home or upgrading the ac unit. Although those are great ways to save money in the long run, there are a lot of inexpensive things you and your family can do to save money now and get immediate results. Here are a few from the experts at Pepco

Set your thermostat at 68 degrees F. during the day and 60 degrees F. at night. You can save 3 percent on your heating costs for every degree you reduce the temperature below 70 degrees F. for the entire heating season. Special Advice to Heat Pump Owners: Heat pumps need to stay at a constant setting, unless you have a programmable electronic heat pump thermostat with adaptive recovery. Check with your heating or air conditioning contractor to determine the type of thermostat you have.

Keep curtains open during the day and close them at night

 

Clean or replace the filter in your forced-air heating system each month. Foam filters can be rinsed with water, but be sure they are dry before replacing. Fiberglass filters need to be replaced periodically.

 

No matter what kind of central air conditioning system you have, clean the outside condenser coil once a year. To clean, turn off the unit and spray the coils with water at a low pressure. (High water pressure may bend the fins.) Try to spray from the top of the unit down and outward.

Turn off  lights when they are not in use

Test your windows and doors for air tightness. Add weather stripping and caulk where necessary. It's low cost and can save you 10 percent or more in annual energy costs.

Get in the habit of turning off the elements or surface units on your electric stove several minutes before completing the allotted cooking time. The heating element will stay hot long enough to finish the cooking without wasting electricity.

Scrape dishes and rinse with cold water from the faucet before loading them into the dishwasher. Avoid using the dishwasher's pre-rinse cycle.

 Regularly defrost manual-defrost refrigerators and freezers. Frost buildup increases the amount of energy needed to keep the refrigerator at its proper temperature. Never allow frost to build up more than one quarter of an inch.

Install an aerator in your kitchen sink faucet.

For more ways to save visit the Pepco website a www.pepco.com

Don't jump ship because your mortgage is underwater

Drive down any city block and you will see multiple vacant homes. Many are the result of foreclosures.

The owner could not pay the mortgage so the bank took the property back. Others have been completely abandoned. It is never the owners first choice to leave there home. A home that they have worked so hard to obtain and maintain.

 A home unlike so many other purchases we make is one that we expect to get a return on. We are okay with paying a little upfront because we know in a few years our home will be our road to financial stability. Owning a home use to mean you had leverage. You could borrow against your equity to start a business, send a child through college or enhance the quality of your life on your terms.

In recent years we have watched helplessly as our biggest asset has diminished in value. Due to the economy many homeowners are suffering job loss and are unable to pay there mortgages. The first sign of trouble is when a homeowner should contact there mortgage company. However, many homeowners wait until they are completely out of options before they call.

They try and sale the home above market price which is usually what they owe on the home. They reduce the price again and again until there only option to sale is by performing a short sale. They work through numerous short sales. Giving up every tidbit of information the bank request only to secure an offer that the bank rejects. Hence the reason for abandonment.

Once the homeowner has tried unsuccessfully everything in there power to save or sell the home it begins to be overwhelming. They have tried to work it out themselves they have reached out for help through short sales now what? Refinancing is out of the question because they owe more than the home is worth. Many homeowners pack there possessions and say "Let the bank do what they will with it". "I am done!"

Abandoning the home no matter how bleak the circumstances should never be an option.

Call your bank and ask about these programs

THE HARP PROGRAM-(Home Affordable Refinancing Program)This program allows qualified borrowers to refinance a loan that is from 105 percent to as high as 125 percent of a home's value.

requirements-

Your home cannot be in foreclosure.

You may not have made any late payments in the past 12 months

It must be a Fannie Mae or Freddie Mac loan

Your eligibility is also subject to your credit score, current lender guidelines & how your loan structure is currently

With the Harp Program to be eligible you must be proactive. At the first sign of trouble you must give your lender a call.

THE HAMP PROGRAM-(HOME AFFORDABLE MODIFICATION PROGRAM)

This is for homeowners that are underwater and have delinquent payments

requirements*

The mortgage must be owned by Fannie Mae or Freddie Mac or by others signed with the U.S Treasury

You must be in danger of foreclosure'

The government provides incentives for the lender to do these troubled loans. However they are not required to do them. It is at there own discretion to reject or accept these loans.

To find out more about these loans go to the making home affordable website at

www.makinghomeaffordable.gov/

Remember every solution may not be an easy one to find but giving up closes the door to finding one.

If you have any questions or need assistance contact me I am here to help

"Caveat Emptor" (Let The Buyer Beware)!

Caveat Emptor (let the buyer beware) "A warning that notifies a buyer that the goods he or she is buying are "as is," or subject to all defects.

Why is it that so many buyers by pass the home inspection one of the most important steps in the home buying process. While it is true getting a home inspection is not a mandatory step it is however a crucial one. Skipping this process can potentially put you in the hot seat with no recourse.

Buyers and sellers each have a duty in the home buying process. One of the duties of the seller is to notify the buyer of any serious defects. If the information being held by the seller would affect the buyers decision to purchase the property than the seller should inform the buyer.This allows the buyer to decide if he/she wants to move forward with the purchase of the home. The disclosures is similar to a history report for the home. If the seller has made any alterations structurally to the property, if there was past flooding, a new septic tank installed, then all of this information would be written in the disclosures and given to the buyer prior to the sale of the home. The buyers agent and the buyer would review the disclosures together and make a note of each area of concern.

(*Caveat Emptor)- These two Latin words sum up one of the duties of the buyer. The buyer should do everything in his/her power to make sure this is a good investment and not a money pit. The buyer is able to do this during the due diligence period in the contract. A reasonable due diligence period is anywhere from 7-14 days. In this time period the buyer is able to get an inspection (preferably by a licensed inspector). Have the inspector check every inch of the home from the attic to the crawl spaces. Check to make sure there was no past flooding and the basement doesn't show signs of excess moisture. A well versed inspector will already have a checklist that he/she uses. Do a Radon and mold test if that is a concern of yours. You can even have a survey performed to make sure the land being sold has no easements or encroachments. All of these test are at the buyers expense, however a little upfront cost may save you a lot on the back end. The great thing about the due diligence period is if you find something wrong with the home that is beyond repair or the seller is unwilling to fix the problem you are able to terminate the contract. As long as you are still within the due diligence period and adhering to the terms of the contract.You wouldn't buy a car without test driving it first right? Why would you gamble with one of the biggest most important assets you will ever own. Don't be Sorry be Savvy!!

If you have questions about the home inspection process Henerohe Home Inspections is a great company to talk to. To get there information give me a call or go to my website at http://www.garegallery.com/