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Home Warranties – What You Need to Know

Picture1 (2)Unless you have purchased a brand new home for sale in Destin that includes warranties on newly installed systems and appliances, there is no guarantee you are covered for repair or replacement if something stops working.

So, how can you protect yourself against the risk of costly repairs? Consider purchasing a home warranty.¬†Before you do though, here’s what you need to know:

1. Warranties are NOT homeowner’s insurance. Homeowners insurance generally protects the structure of your home and your possessions inside your home. Warranties cover appliances and insurance.

2. Warranties cover the unknown. Known conditions are identified during a home inspection and warranties often don’t cover them. However, “unknown conditions” or the issues that would arise after you move-in are covered.

3. Warranties won’t break the bank. All this coverage sounds expensive, right? Think again. Generally, home warranties range from about $350 to $500 per year.

Interested in learning more about the real estate process and how to buy a home? Contact Kerry today! He’ll be happy to guide you through everything from start to finish.

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