According to the National Home Warranty Association, the number of homes covered by a home warranty has been on a steady rise in recent years as have the number of service claims made on homes with warranties.
Buying a home is already such a major investment, and brings with it a lot of uncertainty. Whether new or old, a home’s mechanical systems such as the air conditioner, furnace, water heater, interior plumbing system, built-in appliances and much more can break down, and are expensive to repair.
A home protection plan, such as the exclusive program offered by ERA Real Estate, protects both sellers and buyers from these costly repairs. For sellers, a home warranty can add value to the home while protecting it against unexpected repairs during the listing period. For buyers, a home warranty can provide assurance that their home will be covered against many costly repairs after their closing.
Sellers who purchase a home warranty can gain a competitive edge in the market. Studies show that homes listed with a home warranty not only have a better chance of selling, but they sell faster and for more money.
Home warranties can vary greatly so it is important to understand what is included in each plan. The ERA Home Protection Plan, for example, will cover the cost for repairs to or replacement of any covered mechanical system or major built-in appliance for 180 days during the listing period. If a service call is required, the homeowner need only pay a small deductible.
When a seller in New Jersey agrees to purchase the Home Protection Plan at a nominal fee for the buyer, ERA gives the seller the Home Protection Plan to cover the home until the closing date, free of charge. Coverage for a previously owned home lasts for a full year from the date of purchase, while new homes are covered by the Extended Home Protection Plan for ERA from the second through the fifth year of ownership, after the builder’s warranty runs out, and when it is most needed.
For more information on the ERA Home Protection Plan, consumers can visit the ERA Brokers of New Jersey website at www.ERANJ.com, and click on ANSWERS for more information.
