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Phone: 979-693-0201 Email: [email protected]

Myke Leatham | Brazos County Realty

Myke Leatham | Brazos County Realty

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The Benefits of Purchasing a Home Warranty for College Station Homes

June 16, 2020 by Myke Leatham

There are so many things you need to think about and purchase when you become a homeowner – besides furniture and household items. Homeowners insurance, getting a professional inspection and home warranty are all things that should not only be considered but that we highly recommend and encourage our clients to invest in. Do you know what a home warranty is and what it covers? A home warranty is basically a policy that a homeowner will pay for that will cover the cost of repair for home appliances should they break down or need additional maintenance. If you think about it, most products come with a manufacturer’s warranty in case they break down – cars, phones, computers, TVs, etc. Home warranties provide financial protection for homeowners who may face issues with their appliances and unexpected maintenance and repair costs from service providers. 

Some people could get confused and compare a homeowner’s insurance policy to home warranty, but it’s important to note that a home warranty is not the same thing as an insurance policy, and it does not replace it. A homeowner’s insurance policy is meant to protect you in the event of unforeseen damage to the home from something like an earthquake, fire or storm – it can even protect your high value belongings like art and jewelry depending on what is included in your policy. A home warranty policy protects the appliances in your home as they age, which helps you save money if you need to replace a dishwasher or service a water heater that unexpectedly stops working.  Home warranty policy does work similar to an insurance policy – every year that you have coverage under the warranty you have to pay an annual premium, which can range in price depending on the size of your home. You can choose to pay for additional coverage, and you may have a deductible that you need to pay each time something breaks down – this depends on the terms of your warranty. When you file a claim the home warranty company will send out a service person who will evaluate the product and make any necessary repairs, or even replace the appliance if necessary. 

Most buyers will purchase a one-year home warranty plan when they close escrow on a home, especially since this type of protection helps to provide some much-needed peace of mind that they won’t get hit with a high service bill within days, weeks or months after moving in. This type of protection, similar to homeowner’s insurance, is very beneficial because once you own a home taking care of it and maintaining it becomes a big priority. The benefits of purchasing a home warranty for College Station homes is that you can rest easy knowing that if something breaks down then a professional will come and fix it – no questions asked! For this reason a home warranty is a good idea for homeowners who are not very handy, and it is very beneficial for first time home buyers who may not be familiar with all the systems and appliances in their new home. With a home warranty there are very few costs that will come as a surprise, which makes it a sound financial investment. You will know exactly how much your premium is and the expected deductible for any repairs or replacements that are covered under the warranty – this makes it easier to deal with any unexpected breakdowns. Some of the items and appliances typically covered under home warranty include:

  • Plumbing
  • Electrical
  • Heating and cooling systems
  • Water heaters
  • Washer and dryer 
  • Kitchen appliances like the oven, range, refrigerator, built-in microwave and the garbage disposal 

There is one thing to keep in mind when purchasing a home warranty, and that is that similar to an insurance policy unfortunately not everything will be covered. You will need to read over the specific terms of your warranty to understand what is included and any specific exclusions. Most warranties will not cover appliances and items that have not been properly maintained and this often becomes a point of contention between homeowners and home warranty companies because proper maintenance is subjective. For example, if the previous owner did not take care of the appliances “properly” then the new homeowner will be left hanging and responsible for the service repairs or replacement even if they pay for home warranty. Another issue with home warranty is that they often expect payment upfront assuming that repairs will take place throughout the life of the warranty, but this is not always the case. Some years there will be plenty of repairs that are necessary, but most of the time everything will work out fine and the homeowner will have paid the premium regardless. A home warranty is also typically not necessary in newly built homes, because most appliances will already be covered under the standard manufacturer’s warranty. 

There are various benefits of purchasing home warranty for College Station homes – here is a breakdown of what you can expect, for both buyers and sellers:

Home warranty benefits for buyers:

  • Reliable service from certified repair vendors – there’s no need to spend time researching and asking for referrals for companies to repair or replace your appliances. Your home warranty company will have qualified service professionals on standby and available to offer convenient, quick and quality service. 
  • Peace of mind and protection from unexpected costs – home warranty ensures that any repairs or replacement of a covered appliance or system will be handled by a service professional without additional costs to you. 
  • Home warranty is available for renewal annually so that your home appliances and systems can continue to receive coverage long term. 

Home warranty benefits for sellers: 

  • Adding a home warranty while your home is listed for sale could help reduce any out-of-pocket expenses that may come up after an inspection.
  • A home warranty purchased by the seller is attractive to buyers and can serve as a powerful marketing tool because it shows that a buyer’s budget and the property are protected from unexpected high repair and replacement costs.
  • A home warranty can prevent any uncomfortable disputes after the sale is completed. Buyers will be directed to the home warranty company directly instead of the seller in case an appliance or system requires replacement or service. 

Before you purchase a home warranty for your home, it’s important to do some research so you can choose the best option possible for your home. Here are some questions to ask yourself before you select a home warranty:

  • Do you already have protection? New appliances and new homes will already be covered by a manufacturer’s warranty, which will cover repairs and replacements. Even if your appliances are not brand new, they may still be covered under warranty if they were purchased with a credit card. Some credit cards extend the warranty, for example American Express card purchases can add up to an additional two years of coverage. 
  • How much will a home warranty cost? This really depends on what type of coverage you are looking for and the provider you choose to work with. You can typically choose three different types of home warranty – protection for a single appliance or system, a plan for all appliances or a plan for all appliances, plumbing and electrical systems. Apart from your premium price you will also have to budget for a copayment whenever a service provider comes out to your home to do any work. 
  • Make sure you understand exactly what is and is not covered under the warranty – read the terms and conditions carefully. You will want to make sure that your warranty covers the things that are important for you, for example some home warranty plans will cover a refrigerator but not the ice maker! Sometimes if an appliance stops working due to certain conditions, like a power outage, it may not be covered by the home warranty plan; or if the appliance was not maintained properly or has a pre-existing issue then the warranty provider could refuse to pay for repairs.
  • Most of the time a home warranty provider will choose to replace an item that is broken if the repairs are too costly. However, they may replace the appliance with a lesser base model, meaning you will be responsible for the difference. 
  • Make sure to find out what the limits are on how much the home warranty provider will pay out for repairs and replacement. For example, over a year-long term a warranty provider will pay up to a certain amount to inspect, diagnose, repair or replace each item that is covered under the plan. 

A home warranty plan provides a safety net for homeowners to protect them from costly repairs on their appliances and systems, but they don’t cover everything. Ultimately, it’s up to you if you would like to invest in this type of protection, but make sure you do your research before you make any final decisions. For more information and guidance on selecting a home warranty for your home, please don’t hesitate to contact us. 

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Category: Blog

About Myke Leatham

I’m so glad you found me – your College Station and Bryan, TX real estate source! When you choose to buy or sell a home in College Station/Bryan, TX or other surrounding areas using our expert services, you will receive a free consultation to determine your needs, free listings, and free reports sent to you by email. These weekly reports will show you how hard the members of my team are working to accomplish your property goals, and we guarantee the best service and consultation you have ever experienced. You’ll find the best community information for the College Station, Texas region right here.

It’s nice to know YOUR Realtor will still be of service after the sale.

Experience Counts: Broker/Owner of Brazos County Realty
Over 25 years of sales experience. With past ABR, GRI, CRS, & Epro designations.
Continuing education in real estate: Education is paramount in an ever changing industry like Real Estate. Myke has taken over 1000 hours of real estate specific courses which include but are not limited to: Residential Appraisal, Marketing, Law Contracts I & II, Finance, Residential Inspections, Principles and Practice, Law of Agency, Code of Ethics, Bankruptcy/Easements/Surveys/and Probate, Home Warranties, 1031 Exchanges and hundreds of hours of extensive real estate training.

Reputation: SALES LEADER since 1998; Top Producer 2000 through 2009. Listed among the top agents in the county. Consistently ranked among top realtors for total sales volume out of 900 realtors for commercial and residential real estate in the Bryan/College Station, TX area. When Myke represents buyers, she presents all viable options to her clients, including those properties that are not officially listed, but could be available for sale based on her inside information. Her expertise lies with investors and marketing homes of all price ranges in College Station/Bryan to local, national and global buyers, across all major media channels and through her extensive, personal network of contacts.

Myke is among the top 1% of all Realtors in North America!
She has earned the Designations of ABR (Accredited Buyers Representative), CRS(Certified Residential Specialist), GRI (Graduate of Realtors Institute)CHMS (Certified Home Marketing Specialist), and E-pro (Certified Internet Professional)
Fewer than 3% of all Realtors nationwide earn these certifications. They are not only a symbol of Myke’s commitment to this business, but these designations are your assurance of a skilled, trained real estate professional.

Myke is a consummate real estate professional who not only understands the art of deal-making, but also the art of relationships. She makes the process of buying and selling homes an uplifting and fun experience. She has a tremendous appreciation for Bryan and College Station, its rich history, and Texas A&M traditions having lived in the area for 25 years. Her knowledge of Bryan/College Station’s real estate market and market trends is unparalleled. Having been personally involved with clients through their remodeling, purchasing and selling processes, she knows intrinsic quality and value when she sees it. When she doesn’t see it she lets her clients know, without hesitation.
Myke’s proven track record and affiliations in the field of real estate demonstrates her high level of professionalism.

* High energy and enthusiasm
* Aggressive marketing
* Expert negotiating skills
* Ability to listen and ascertain customer’s desires and needs
* Fun to be with
* Internet savvy
* Because Myke is an experienced investor, she quickly helps her customers locate and define good business opportunities. No one likes the feeling of being ‘sold to’ so Myke provides as much information as possible to help you make the right decision.

Personal Commitment:
I am prepared to go the ‘Extra Mile’ for you, because I understand the financial and emotional significance of purchasing and selling your home. I will carefully listen to your desires and arrive at a workable plan. I believe sensitivity, listening, and service are important keys to success.
Whether you are buying or selling a home or you are just curious about your home’s market value, I’d be happy to provide my market expertise and intelectual property without obligation, or meet with you to evaluate your home for future reference. I want my customers to have a great time and enjoy the total process of purchasing or selling property. It gives me great pride when my customerspass my name on to their friends and family. I will continue to work hard to make sure critical information is available at www.AggieRealEstate.com and I invite all interested investors to search my site for cash flow opportunities. I will dedicate my time and talents to helping you achieve your goals. It is my goal to make your buying and selling experience extraordinary. Look closely and you’ll see how much I love meeting and working with people. You’ll experience the difference in working with an experienced and dedicated professional.

Personal information:
Michelle goes by ‘Myke’ and is the proud mother of 6 children – 3 girls and 3 boys. Her husband is David Leatham. They met at Brigham Young University. They have been married since 1977. David is a finance professor, and Associate Head over graduate studies in the Agricultural Economics Department at Texas A&M University, and speaks fluent Spanish. They have lived in College Station since 1983 and loved every minute of it. Myke loves to quilt, sing, swim, ‘sing’, bake bread, ‘sing,’ garden, ‘sing’, sell real estate, and ‘sing some more’ :-). Family, church, and real estate consume most of her time. Truth, honor, integrity, kindness, loyalty, gratitude, and service are very important words to her.

Slogan: ‘Let Myke Help You With Your HOMEwork!’

Referrals: The highest compliment I can get is when you pass my name on to others or post a kind remark on the internet. When you send your friends and family my way, I’ll always provide them with the highest quality of service that I know you would appreciate. Thanks in advance for all your support and friendship.

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