After closing day on Beavercreek homes for sale, new homeowners have lots of choices to make. Whether to get a home warranty is probably low on the list – but it's one of the first things you'll have to think about.

Our REALTORS® have heard from many satisfied customers that before the month was over, they ended up with half a dozen home warranty offers. Yes, the right one can save you money, but it's vital to make an informed decision.

So, in honor of Home Warranty Day on February 10, we're here to answer all your questions.

What is a Home Warranty, Anyway?

If you've never heard of a home warranty, you're not alone. Although they're easily confused with homeowners insurance, they're not the same thing.

Homeowners insurance is required coverage – lenders expect it. It covers major damage to a home, which includes things like fire, hail, theft, and some water damage. It mainly protects the home itself, not the personal property of those living there.

On the other hand, a home warranty covers the costs of repair (and sometimes replacement) for household appliances: Things like your refrigerator, microwave, oven, and so on. Home warranty companies prefer to cover items in newly sold homes to find eager customers.

But should you get a home warranty or go it alone?

Here's when a great home warranty really makes sense:

1. You're Buying Several Used Appliances With Your Home
   The question of a home warranty can come up in the selling process. Sometimes, buyers will find they really want some of the home's major appliances – or the seller doesn't want to spend money moving them. If your home comes with appliances that are 10 years old or more, a home warranty will protect you if they stop working.
   
   
2. A Home Inspection Has Shown Electrical or Other Issues
   A home inspection helps buyers get a complete picture of repair and maintenance issues that need to be taken care of. If your inspection turns up electrical issues, a home warranty is a good move. Faulty wiring can cause damage to appliances even when they operate correctly. The first sign of trouble might be when your refrigerator stops working!
   
   
3. You Want to Minimize Unexpected Future Costs
   Experts suggest saving 2%-5% of a home's asking price for annual maintenance. Maintenance issues can crop up suddenly, and those bills pack a wallop. A home warranty can give you less to worry about. Smaller, fixed expenses from your policy may be preferable to large, sudden bills. Many people choose a home warranty simply for peace of mind.
   
   
4. You Don't Like Dealing With Appliance Breakdowns
   Not everyone is used to dealing with appliance breakdowns, especially if this is your first home. Dealing with the manufacturer, finding a service center, and taking your appliances in for repair are all time-consuming chores. If you find yourself particularly annoyed by breakdowns, your home warranty will save you the frustration. Your future self might thank you.
   
   
5. You're Willing to Invest in Appliance Maintenance
   There is a caveat to home warranty policies: They don't necessarily cover appliances that have not been maintained. They also don't cover damage from unusual use of the device or, of course, intentional destruction. Read your policy carefully to see what the standards are. An annual maintenance check can extend appliance life, but not everyone finds the added expense worthwhile.

There are dozens of decisions to make when buying a home, and Wright-Patt Realty is here to help you every step of the way – even after closing. For personalized advice, contact us.