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How to Control Unexpected Homeowner Costs

By Edited Jun 9, 2015 5 7
Control Unexpected Homeowner Costs


Home repairs can be costly and they always seem to come at the most inconvenient time. What if you couldn't get your car out of the garage because one of the springs on the door snapped? Who would you call?

A Home Warranty plan provides qualified service people to address your specific problem. At the moment when you might be in the middle of a crisis, and time may be critical, you can call one number instead of searching for a repair person online or in the phone book. Home warranty plans work like health insurance policies, financially protecting you from an unexpected catastrophe. Although some people use them only when buying or selling a house, having a regular plan can help you control unexpected homeowner costs.

Things You Will Need

A computer

Step 1

Decide if a warranty plan is a wise choice for your circumstances. How old is your home and your appliances? While there is no way to know when an appliance will break down, if you own a newer home, the chances are less likely that something will go wrong. In that case, maybe you can afford to wait a few years to buy a warranty plan. Typical plans include heating, plumbing, electrical and appliances. But you can also add on things like a pool, roof, air conditioning, electric garage doors and more.

Step 2

Start your search online for a home warranty plan provider. This is where you can get a lot of free information from the comfort of your home. Most companies require you to fill out a simple form. When it's received, one of their agents will phone you and discuss their services. Resist any hard-sell techniques or pressure to sign. Don't sign with a company until you are able to research at least two other plans.

Step 3

Talk to neighbors. Ask them to recommend a provider if they have personal experience with one.

Step 4

Pay attention to the number of services calls allowed during the term of any contract. Some companies offer unlimited requests, others have clear limitations.

Step 5

Look for a company that provides 24 hr. service online or by phone so you can request service as soon as the problem occurs, even if it happens in the middle of the night.

Step 6

Compare costs and plans from different providers. Determine which best suits your needs and your budget. Read a contract thoroughly before signing up. Array

Tips & Warnings

* A Homeowners Warranty should not be confused with Homeowners Insurance.

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Comments

Jun 13, 2010 2:50pm
SharonWatterson
great tips on controlling unexpected home owner expenses, always a surprise, these tips are money saving
Jun 14, 2010 6:38pm
Infowriter
What a helpful article on how to Control Unexpected Homeowner Costs, thanks for sharing. It truly deserves a 5* rating and recommendation!
Jun 15, 2010 4:59pm
krismyers
Good advice on how to control unexpected home owner costs!
Jun 25, 2010 3:41pm
goodselfme
thank you for sharing your great wisdom here in this well done article.
Jun 30, 2010 8:38am
snowfence
Thanks for the article. We all have unexpected expenses when owning a home.
Jul 28, 2010 5:45pm
Deborah-Diane
As a former Realtor, I have always stressed the importance of purchasing a homeowner's warranty when a property exchanges hands. This is particularly important for young people who may not have had a lot of experience with home ownership, or for people who are not handy about making their own repairs. Thanks for the intelligent article!
Mar 10, 2011 6:21pm
Lynsuz
Great article with many good tips for controling unexpected home owner expenses
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