Is a Home Warranty Necessary and Good Value for Money?

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Everyone remembers that feeling of buying their first home full of anticipation, excitement, of creating happy memories and fresh new beginnings. But many new homeowners underestimate the burden of caring for it and the cost that comes with it.

How much should we expect to pay for home care every year? Experts estimate that homeowners should budget for 1-2% of the purchase price of their home each year for repairs and maintenance. For example, if you purchased a home for $300,000, you should budget $3,000-$6,000 per year for repairs and maintenance.

This is obviously just a rough estimate, and some may end up spending more or less depending on the specific needs of their home. But it's always a good idea to have an emergency fund or budget for unexpected home repairs, so you're prepared in case something unexpected comes up.

What’s the most cost efficient way to care for my home?

A home warranty provides you with peace of mind by covering the cost of repairs or replacements for certain appliances and systems within the home, such as the HVAC system or plumbing. It also saves you money by saving you from paying out of pocket  for costly repairs and you get 15% off additional home repair services. Additionally, Puls Home Warranty offers 24/7 customer service and the ability to schedule repairs and replacements 7 days a week at your convenience.

Is it worth it?

An average home warranty costs $700 and covers up to $5,000 per year. For more info, check out Puls Home Warranty pricing and coverage. Any repair that costs more than $700 will cover the cost of the plan. Nobody can predict the repairs that will need to happen each year, it depends on a variety of factors including your home quality, age, location and more. 

But the bigger question is, how much value do you give peace of mind? I’m guessing the answer is a lot, so therefore if your home is valued at 300K or more, then a home warranty plan is a no-brainer. 

Happy home ownership.

Puls
Puls offers over 30 on-demand home services nationwide, including TV mounting, plumbing, and smart home installations, with same-day availability and seamless booking. We also offer home warranties and property management solutions, making us a one-stop-shop for all home maintenance and repair needs. Visit our blog for more tips and advice.
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