What Should Buyers Need to Think About When Looking for their Albuquerque Home?

What Should Buyers Need to Think About When Looking for their Albuquerque Home?

(Transcript Snippet): “Tego:

Tracy, you brought up something at our, our, our team meeting about home warranties the other day. And I just wanted to wrap with that. And, and boy, they, you know, when, when we buy stuff these days everywhere, we, we go to Lowe’s, we go to home Depot, you know, go to best buy Walmart, you know, let’s say, do you wanna buy a warranty, Amazon? Do you wanna buy a warranty? And, and I think we’ve, we’re so used to just saying no, no, no. You know, I think it depends on the product, but this is a product when you’re buying a home where there can be some pretty substantial expenses and, and actually, you know, home warranties are relatively, I, I would say, you know, compared to things like extended warranties on cars, extended warranties on, you know, television sets and stuff. It’s actually, I think very reasonable, you know, you can get a full home warranty for around $500 that will cover, you know, know pretty major issues if they come up. And

Tracy:

Actually they’re more about they’re more in the six, 650 range right now to get a really good home warranty.

Tego:

Well, that’s what I’m saying. I mean, yeah, there’s different, but it’s

Tracy:

Levels very affordable. So, you know, we used to, when I was new to real estate, the my mentor would say, yeah, you really wanna get somebody who’s maybe a first time borrower that’s using a down payment program or is getting a gift for their down payment. That once they close on the house, they’re not gonna have any money left. If they move in and something breaks, right. They should really get a warranty. Well, now we had two examples in our meeting, right? Mm- we have a client who just bought a million dollar house and got a home warranty and they moved in and there was not hot water to half of the house, right. The warranty company’s taking care of it. But also we met with somebody that we sold a house to a few years ago, who’s getting ready to move out of the area. And they were telling us what a blessing that home warranty was. They got because there was they, as we walked through their house, they said, oh yeah, that was new too. Because the home warranty took care of it in the first year. It didn’t work after a couple months. And they, they probably benefited as I recall, from about $3,000 worth of repairs on things on their warranty. Yeah. It’s

Tego:

Some, it’s something to consider and it I think it, I think it’s a good value compared to other, you know, warranty type products out there,

Tracy:

Warranty products for when you buy a house, you know, you can go and get one on your existing home, but they’re gonna have a preexisting clause and you won’t get as greater rate as if it’s during the purchase process. So yeah. Yeah.

Tego:

Good point. Well,

Tracy:

I’ll leave it there.