Buying a home is one of the biggest investments you make in your life. That is why it is not something that happens overnight. You can't just wake up one day and think you will purchase a house and complete the home-buying process the next day.

There is a lot of planning that goes into buying real estate. One of the top ones is managing the upfront expenses that you have to pay in the form of down payments, closing costs, and more. And guess what? The home expenses don't end even after you buy a home.

Once you have settled in, you will have to deal with a list of home maintenance and repair costs. These additional expenses after you have gone through so many can get frustrating. In such a situation, you need the antidote to your frustration, which is home protection warranty coverage.

We are about to discuss home warranties and how home protection warranty plans can reduce the cost of expensive home repairs.

Here we go.

What Is Home Protection Warranty Coverage?

You are not a wizard with a crystal bowl, nor can you run to the future and see your fate. So, it can be difficult to predict when you need repair and maintenance. And sometimes, you might turn into expensive home repairs that can break your bank.

One of the best ways to deal with it is not having to deal with it all. Yes, that is what you can do with the right home protection warranty coverage. This is a service contract with a third-party home warranty company to cover the damage caused due to wear and tear.

When these companies take care of expensive home repairs, this can free up your budget for dealing with other important costs.

Home Insurances are Different

Yes, home insurance is similar to home warranty coverage in many ways. However, you will also find many dissimilarities in coverages offered by insurance and warranty. Home protection warranty companies usually accept claims when there is natural or normal wear and tear.

On the other hand, home insurance covers property and structural damage caused by things like natural disasters or home theft.

How Can Home Protection Coverage Reduce Your Repair Costs

There are a number of benefits you get with the right warranty coverage, and home protection is one of them. Making sure you don't have to pay for repairs and maintenance of the covered home components brings a lot of flexibility to your life.

Here are some of the major advantages you can enjoy when you have home protection to reduce expensive home repairs.

Major Home Components are covered

Going for a home protection warranty plan does not mean you should cover all home components around you. That will just increase your cost for warranty premium and might make it higher than your cost of repair.

Home warranty plans allow you to cover specific components that you expect to face wear and tear.

For example, if there is a lot of cooking that takes place in your home, you may want to cover appliances like your microwave oven and refrigerator. So, if these appliances can't keep up with your cooking schedule and malfunction, you don't have to go for expensive home repairs.

Have a Fixed Service Fee

Sometimes, you might have expensive home repairs or those that are not pricy. These home repair expenses are unlike your conventional payments like rent and other loans. That means you will be unsure about what will your next home repair payment be.

When you have home protection, it can increase the predictability of your home repairs. The home warranty coverage company will have a fixed service every time you call them for repair or maintenance.

This will be significantly lower than what you would have paid without home protection.

Pre Negotiated

Sometimes, it gets frustrating to (1) find a skilled professional for repair and maintenance and (2) spend time negotiating a fair price for the service. When you have home protection, the warranty company looks after all these situations.

Most home warranty companies have licensed service providers to offer the ideal service you are looking for. You can save a lot of time as you don't have to extensively search for a reliable professional and try to get discounted rates for the service.

Better Budgeting

With no home protection for your home repairs and maintenance, your budget can be all over the place. You will likely have a lot of unexpected expenses that you have not budgeted for. Having these covered will tell you exactly how you need to pay for each service.

Apart from just the home repairs, this will also make sure you have enough budget for other home expenses.

Prevents Breakdowns

Imagine you have bought a refrigerator, and it breaks down every month. Yes, the warranty company will take care of all repairs and the costs involved with it. But won't it be frustrating to deal with these breakdowns? Not to mention the food inside the refrigerator may rot.

That is where the home protection plans come in. Not only will they look after the repairs and replacement, but they will also ensure the component maintenance is up to date. All you need to do is file a claim and let the home warranty companies do the rest.

Increased Marketability

Buying a home warranty-covered property is something many potential homeowners want. That is because they would think all maintenance and repairs are up to date, reducing their home cost.

And what does it do? Allows you to ask for a premium price when selling your cost. This means you can earn a profit when you have decided it is time to move on and buy a new property.

Explore: The Recent Home Listings Near You

Summing it up

You now know how going for the right home protection plan ensures you reduce repair and maintenance costs. This allows you the financial freedom to spend money on other home improvements and repairs to grow your home value.

The first step before you decide on your home protection plan is to buy your preferred home. That is where HAR.com helps you out. With a large number of qualified real estate agents and property types listed on our platform, this is the one-stop for potential real estate buyers.