A home maintenance contract is an interesting possibility for homeowners looking for a way to supplement their existing home insurance possibility. Most common with the purchase of new homes, a home maintenance contract usually covers a house for a term of anywhere from one to 10 years, depending on the level of coverage desired and the budget you have as the homeowner.
While it is possible to find policies that cover older homes, they are typically less common and tend to cover fewer repair scenarios. Your local home maintenance warranty providers will be able to inform you regarding the available coverage types and their related costs.
How Much Will It Cost To Purchase a Home Maintenance Contract?
Home maintenance contract costs will range anywhere between $200, up to as much as $4,100. The range of prices has a lot to do with the size of your home, its age and the grade of materials used in the construction of it. You'll find that the average cost to purchase a home maintenance contract is $900. Another variable to keep in mind when shopping for home maintenance service plans is to understand if there are any deductibles or service call costs. The goal of these sort of contracts is to cover large ticket items but many homeowners will make the mistake of not asking about extra costs.
If you think a home maintenance contract might be appropriate for the house you are planning on purchasing, or already have bought, you can get more accurate information by contacting local companies. Try comparing multiple estimates from the best local contractors near you. This will ensure a quality deal and workmanship.
Repairs Covered By a Home Maintenance Contract
Home warranties are most commonly purchased by first-time home buyers on a tight budget. The contracts will cover big-ticket repairs that would be difficult or impossible to cover out of pocket should they arise during the first few years of home ownership.
Some common types of repair services covered by a home maintenance contract:
- foundation repair
- roof servicing
- heating and air conditioning servicing
- appliance servicing is sometimes included (not in every agreement)
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