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The Impact of School Districts on Home Sales
When purchasing a home, many buyers focus on factors like location, size, and price. However, one of the most influential elements often overlooked is the quality of the school district (https://cbtraditions.com/lifestyle). Whether or not families have school-age children, the reputation of a district can significantly impact the demand, price, and overall appeal of a property.
1. Buyer Preferences and Home Values
For families with school-aged children, the quality of local schools is often a top priority. Homes in highly-rated school districts tend to attract more buyers and can command higher prices. School district performance can be a direct indicator of neighborhood quality, with top-tier schools often associated with well-maintained homes, safer environments, and a more stable community. This can drive demand and increase property values within those districts.
2. Long-Term Investment Considerations
Even for buyers without children, the quality of a school district remains an important consideration for future resale value. Homes in highly-rated districts tend to retain their value better over time, even during market downturns. Buyers often see these homes as a stable long-term investment, as good schools attract new families and contribute to ongoing neighborhood growth.
3. School District Boundaries and Market Segmentation
School district boundaries can have a significant impact on the segmentation of the housing market. In cities or regions with multiple districts, the difference in quality between neighboring districts can create sharp divides in home prices, even if the homes themselves are similar. A buyer may find a significant price difference for homes just a few blocks apart, depending on which district they fall into.
This can also create a situation where homes near the boundaries of a high-performing district are highly sought after, with buyers willing to pay a premium for properties that might allow them access to better schools, even if they are not guaranteed enrollment.
4. The Role of School District Rankings
School district rankings, whether from national organizations or local news outlets, can play a pivotal role in shaping perceptions. Many buyers will consult these rankings before making a decision, relying on metrics such as academic performance, graduation rates, and extracurricular opportunities. Districts with top rankings in these areas often become highly desirable, leading to increased demand for homes within their boundaries.
As school rankings shift over time, so too can the real estate market in those areas. A once high-ranking district that declines in performance could see a drop in home prices, while a district that improves could see an uptick in property values. The impact of school districts on home sales cannot be overstated. Whether you’re a family with children, a first-time homebuyer, or someone planning to sell, understanding the role of school districts in the real estate market is essential to making informed decisions.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs. Call Us Today at 757-229-9595 or email us at info@cbtraditions.com.
The Benefits of Hosting an Open House for Sellers
When selling your home, an open house can be a powerful tool. It’s not just a tradition in real estate but a strategic move with several key benefits for sellers. Here’s why hosting an open house could give your sale a boost:
1. Maximizes Exposure
An open house attracts a wider audience, including serious buyers and curious neighbors who might pass the word along. The more people see your home, the more likely you are to get an offer. It creates buzz and increases the property’s visibility in a short span of time.
2. Convenient for Buyers
Buyers often feel more comfortable exploring a property during an open house, as they can view the home without the pressure of a scheduled appointment. This flexibility allows more people to visit, increasing your chances of finding the right buyer.
3. Creates a Competitive Environment
When multiple potential buyers are viewing the property simultaneously, it can create a sense of urgency. Seeing others’ interest might encourage visitors to act fast or offer more to secure the home before someone else does.
4. Immediate Feedback
An open house gives sellers valuable feedback. Buyers may express what they love or what they would change, providing insight into areas that may need improvement before selling.
5. Showcases Your Home’s Best Features
With proper staging and a relaxed setting, an open house lets you highlight the home’s strengths. Whether it’s natural light, spacious rooms, or outdoor spaces, potential buyers get to experience these features firsthand.
In short, an open house can generate interest, facilitate easier showings, and potentially lead to a quicker sale. For sellers looking to maximize their home’s exposure, this traditional approach remains as effective as ever!
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs. Call Us Today at 757-229-9595 or email us at info@cbtraditions.com.
Benefits of Living in a Walkable Neighborhood
As homebuyers increasingly seek communities that enhance their quality of life, walkable neighborhoods have become a top priority. These areas, designed with convenience and accessibility in mind, offer a variety of advantages that extend beyond just being close to shops or cafes.
1. Health and Wellness
Walkable neighborhoods encourage an active lifestyle. By having amenities like parks, restaurants, and grocery stores within walking distance, residents naturally incorporate physical activity into their daily routines. Walking helps boost cardiovascular health, reduces stress, and promotes mental well-being.
2. Environmental Impact
Living in a walkable neighborhood reduces reliance on cars, decreasing greenhouse gas emissions and contributing to a cleaner environment. With less need for daily driving, buyers can also save on fuel costs.
3. Community Engagement
Walkable areas foster a sense of community. When people walk more and spend time in public spaces, there are greater opportunities for casual interactions with neighbors, which can lead to stronger social connections and a sense of belonging.
4. Convenience and Time-Saving
Having essential services such as schools, shops, and restaurants within walking distance saves time and simplifies daily errands. This convenience enhances the overall quality of life, as it eliminates the need for long commutes and creates more opportunities for leisure and relaxation.
In conclusion, walkable neighborhoods offer a range of benefits, from promoting healthier lifestyles to fostering community spirit. For homebuyers seeking convenience, sustainability, and a high quality of life, walkability is a key feature to consider.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs. Call Us Today at 757-229-9595 or email us at info@cbtraditions.com.
The Benefits of Home Renovations For Sellers
Home renovations before selling can be a smart investment, providing several key benefits. These renovations often help increase the sale price, speed up the selling process, and attract more buyers. Here’s a detailed look at the benefits of home renovations before selling:
1. Increase Property Value
- Higher asking price: Well-executed renovations can significantly boost your home’s market value. Buyers are often willing to pay a premium for modernized spaces like updated kitchens, bathrooms, and energy-efficient systems.
- Competitive advantage: A newly renovated home will stand out in the market, especially if similar homes in the neighborhood are older or outdated.
- Return on investment (ROI): Many renovations provide a solid return on investment. Kitchens, bathrooms, and curb appeal updates often offer the highest ROI. Even small upgrades can lead to a higher sale price.
2. Faster Sale
- Attract more buyers: A well-renovated home is more appealing to potential buyers, which can increase interest and bring in more offers faster.
- Move-in ready appeal: Buyers, especially first-time homeowners or those with busy lifestyles, prefer homes that don’t require immediate repairs or updates. A freshly renovated home is more attractive to buyers who want to move in without additional work.
- Fewer negotiations: If buyers spot issues or outdated features during their walkthrough, they may request lower offers or demand repairs. By addressing these potential concerns before listing, you reduce the likelihood of drawn-out negotiations.
3. Improve Curb Appeal
- Better first impressions: The exterior of your home is the first thing potential buyers see. Simple renovations like fresh paint, updated landscaping, or a new front door can make a big difference in curb appeal, drawing in more potential buyers.
- Create a welcoming atmosphere: A modernized, clean, and attractive exterior sets the tone for what buyers can expect inside, leading to a more favorable overall impression of the home.
4. Fix Issues Before Inspections
- Avoid last-minute surprises: Renovating your home allows you to fix underlying problems before buyers discover them during the home inspection. This can prevent unexpected issues that could derail a sale.
- Eliminate buyer concerns: Structural issues, old wiring, leaky roofs, or plumbing problems can scare off buyers or lead to price reductions. Handling these repairs upfront builds buyer confidence and smooths the selling process.
5. Appeal to Modern Preferences
- Meet buyer expectations: Today’s buyers often prefer open floor plans, energy-efficient features, modern kitchens, and updated bathrooms. Renovations allow you to align your home with current market trends and appeal to the largest group of buyers.
- Neutralize design choices: Updating dated or overly personal design elements with neutral, modern finishes can make your home more appealing to a broader audience. Neutral designs allow potential buyers to envision their own style in the home.
6. Increase Energy Efficiency
- Energy-saving upgrades: Installing energy-efficient windows, appliances, or insulation not only reduces energy costs but also adds value to your home. Buyers are increasingly interested in energy-saving features that reduce utility bills and have a positive environmental impact.
- Modern, eco-friendly appeal: Eco-conscious buyers may prioritize homes with sustainable features, and showcasing energy-efficient upgrades in your listing can make your home more attractive to this growing segment of buyers.
7. Boost Online Appeal
- Better listing photos: With many buyers starting their search online, attractive photos are crucial. A renovated home, especially with modern finishes and updated spaces, will look more appealing in online listings and can generate more interest.
- Virtual tours and showings: Well-renovated homes also shine in virtual tours, which have become increasingly popular. High-quality finishes, new appliances, and modernized spaces will stand out in 360-degree tours or video walkthroughs.
8. Maximize Use of Space
- Increase functional living areas: Converting unused or underutilized spaces, such as basements or attics, into functional living areas (e.g., an office or guest room) can add significant value and broaden your home’s appeal.
- Create open-concept layouts: Removing unnecessary walls or improving the flow of a home can give it a more spacious and contemporary feel, which is highly desirable in today’s market.
9. Meet Local Market Demands
- Tailor renovations to the market: Strategic renovations can address specific features that are in demand within your local real estate market. For example, in urban areas, modern kitchens or energy-efficient windows may be top priorities, while in suburban areas, updated outdoor living spaces or finished basements may be more desirable.
- Better align with comps: Renovating allows your home to better compete with comparable homes in your area that may already have modern upgrades.
10. Higher Offers and Bidding Wars
- Attract serious buyers: Buyers are more likely to make strong offers on a home that doesn’t require immediate work. This can result in multiple bids or even a bidding war, driving up the final sale price.
- Fewer contingencies: Renovations reduce the need for buyers to request contingencies related to repairs or updates. This makes the transaction smoother and more likely to close on time.
Home renovations before selling your home can provide a high return on investment, attract more buyers, and lead to quicker, higher offers. By making strategic updates and repairs, you can maximize the appeal and value of your home, ensuring a smoother and more profitable sale.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs. Call Us Today at 757-229-9595 or email us at info@cbtraditions.com.
Getting Pre-Approved for A Mortgage
Getting pre-approved for a mortgage is an important step in the home-buying process. It not only gives you a clear idea of how much you can afford but also makes you a more attractive buyer to sellers. Tips on how to get pre-approved for a mortgage:
- Check Your Credit Score
- Review Your Credit Report: Obtain a copy of your credit report from the three major credit bureaus (Equifax, Experian, and TransUnion) and check your credit score.
- Fix Errors: If you find any errors on your credit report, dispute them immediately. Correcting errors can boost your credit score.
- Determine Your Budget
- Assess Your Finances: Calculate how much you can afford for a down payment, monthly mortgage payments, property taxes, insurance, and maintenance.
- Gather Necessary Documentation
- Income Verification: Collect recent pay stubs, tax returns (usually for the last two years), and W-2 forms. If you’re self-employed, you may need to provide additional documentation like profit and loss statements.
- Employment Verification: Lenders typically contact your employer to verify your job stability and income.
- Bank Statements: Provide statements for all your bank accounts, showing your savings, checking, and any other assets.
- Identification: Have a copy of your driver’s license, Social Security number, and any other required identification ready.
- Shop Around for Lenders
- Research Lenders: Look for lenders offering competitive interest rates and terms. Consider banks, credit unions, mortgage brokers, and online lenders.
- Get Multiple Quotes: Request pre-approval from multiple lenders to compare interest rates, fees, and loan terms.
Getting pre-approved for a mortgage is a smart move that can streamline your home-buying process and make you a stronger candidate in the eyes of sellers. Coldwell Banker Traditions have knowledgeable and trusted business partners https://cbtraditions.com/our-business-partners that can assist with your lending needs.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs. Call Us Today at 757-229-9595 or email us at info@cbtraditions.com.
Ready, Set, Camera Security
Keep an eye on all that goes on around your home with security cameras that offer the ultimate feedback on real-time and documented footage. Not only do home security cameras deter burglars, they can record important and useful information for police investigations and other items of interest you may not have otherwise known about. Think carefully about what you want and need in a camera: video and audio quality, hardwired or wireless and with or without night vision. Also, consider where you’ll place your camera and the area it will cover. Be sure it’s capturing enough to tell the whole story.
These revealing security measures can be surprisingly affordable, or you can opt to upgrade with units that include even more bells and whistles. Choose from features such as motion detection, Wi-Fi capability, a two-way talking component, cloud storage and weatherproof casing for outdoor cameras. Inside or out, a security camera can open up your eyes to a world of information through its observant lens.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs.
Call Us Today!
4 Ways Realtors® Give Back To Their Communities
When it comes to finding the right real estate agent, top of your criteria should be local expertise and a deep understanding of the community. Real estate professionals need to be intimately familiar with the homes, businesses, and the economy in the area to help you buy or sell the perfect Williamsburg, VA real estate property (https://cbtraditions.com/).
However, great real estate professionals (https://cbtraditions.com/directory) should play a deeper role in the local community beyond the buying and selling of homes.
At Coldwell Banker Traditions we believe that giving back to the Williamsburg community is part and parcel of our
responsibility. As people who live in and rely on this amazing community, it’s only right to return the same support that they give us.
Specifically, here are 4 ways your Williamsburg VA real estate agent gives back to the local community:
They support local NGOs and charities
It’s important to work with real estate professionals who are passionate about the community they work in. And one of the ways this love for the community is shown is by taking part in charitable projects and local causes.
Many of our associate brokers or Realtors® have something they advocate for, whether it’s giving the furry citizens at the local animal shelter the best life possible or raising funds for programs that help disenfranchised members of the community. Some work as volunteers at local non-profit and charity organizations.
For example, one of our members is the Committee Chairperson at Habitat for Humanity Peninsula & Greater Williamsburg (https://www.habitatpgw.org/), a nonprofit organization that builds and renovates affordable homes for people in need of decent housing, regardless of background, race, or religion. Find out more about their advocacy here (https://www.habitatpgw.org/advocacy/).
They utilize their wide network of professionals and clients
Brokerages and real estate teams with a large network also use their resources to give fundraising organizations and
donation drives the platform they need to promote their cause. For example, Realtors® who have a huge following on social media often post about calls for donations. Those who write blog posts and content for their websites also write about the community programs they want to support.
Here at Coldwell Banker Traditions, some of our brokers and Realtors® volunteer at Williamsburg Area Meals on Wheels (https://williamsburgmealsonwheels.com/), which provides nutritious meals to vulnerable families in the Williamsburg area. Others are a part of the Kiwanis Club of Williamsburg (https://williamsburgkiwanis.org/), a global organization of volunteers dedicated to improving communities and children’s quality of life. Click on the links to find out more about how you can support these programs.
They sponsor events for a good cause
Local businesses and events are integral to keeping the spirit of community alive, and nobody knows this better than your local Williamsburg VA real estate agent. You’ll often see them attending and sponsoring community events such as farmers markets and local business luncheons. Realtors® also join walks or runs for a cause, raising money for cancer awareness or the local children’s hospital.
Our real estate team supports numerous causes, ranging from historic preservation to affordable housing and medical services. One of these is the Hospice House of Williamsburg (https://williamsburghospice.org/), a charitable organization that provides short-term residential care for end-of-life support. You can learn more about their fundraising (https://williamsburghospice.org/us-2/ways-donate/) and volunteer programs here
(https://williamsburghospice.org/volunteers/overview/).
Some of our Realtors® support Colonial Williamsburg (https://www.colonialwilliamsburg.org/), the largest outdoor living museum in the country. The Colonial Williamsburg Foundation is a not-for-profit educational institution that seeks to not only conserve Williamsburg’s colonial buildings, but also to educate residents and visitors on the city’s rich history. Check out how you can support them here (https://www.colonialwilliamsburg.org/give/other-ways-giving/?from=navgive).
They volunteer at community-based programs and organizations
In between studying local market trends and negotiating the best deal for their clients, real estate professionals also make time to volunteer at community-based programs and organizations.
For example, some real estate agents use their landscaping and property knowledge by volunteering as educators at the JCC Williamsburg Master Gardener Association (https://jccwmg.org/wordpress/), a group of master gardeners who provide public outreach and education programs on sustainable gardening practices. You can read more about their community outreach programs (https://jccwmg.org/wordpress/community-outreach/) and demonstrations here (https://jccwmg.org/wordpress/demonstration-projects/).
Other Realtors® put their great communication skills to use at the Bacon Street Youth and Family Services
(https://baconstreet.org/), a non-profit organization that offers mental health services to teens, young adults, and their families through evidence-based behavioral health and substance use programs. Discover ways to support them here (https://baconstreet.org/get-involved/).
Be a part of the Williamsburg, VA community today
With almost a century’s worth of history in Williamsburg VA and its surrounding communities, our real estate team at Coldwell Banker Traditions (https://cbtraditions.com/about-coldwell-banker-traditions) continues to live by its principles of impeccable client service, family-oriented values, and community commitment.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs.
Call Us Today!
Giving Back: 3 Ways You Can Help Your Community While Selling Your Home
Selling your home is always bittersweet. While it serves as the beginning of a new chapter in your life in a newer and better home (https://cbtraditions.com/listings/our-active-listings), it’s also a process of saying goodbye to a house and community that has sheltered you for a long time. If you’re in the process of selling your Williamsburg home, why not use it as an opportunity to give back to the community?
In this home sellers’ guide, we will show you different ways on how you can help your community before selling your home and relocating to a new place:
Donate to your local charity
Decluttering your home can be one of the most overwhelming parts of the home selling process. Whether you’ve lived in your home for a few years or for several decades, there always seems to be a mountain of stuff that you either forgot about, don’t use anymore, or regretted buying.
To paraphrase Marie Kondo, it’s clear that these items don’t spark joy. However, they can spark joy for someone else who needs them. Here are some items in your inventory that you might want to give away to your local charity:
Furniture
If you’re moving to a new home, it’s unlikely that you will get to keep all your furniture. Not only will it make moving out more cumbersome, but there’s also a good chance that it won’t match the interior design of your new home. So, instead of letting them waste away in landfills, you can give them away to affordable housing organizations like Habitat for Humanity ReStore (https://www.habitatpgw.org/restore/).
Clothing
Now is a good time to reorganize your closet. If you haven’t worn that sweater or those jeans in the past three years, then you’re probably not going to even when you move into your new home. Donate them instead at clothing-specific charities like the Salvation Army or Goodwill’s donation centers (https://www.goodwill.org/donate/donate-stuff/).
Food
Check your pantry for any non-perishable and uncompromised food items as well. Relocating and moving all your
belongings to a new house is a massive job in and of itself, so it’s better to give away those canned food items and dry pet food rather than lugging them along with you. In Williamsburg, you can drop these off at food banks like Meals on Wheels (https://williamsburgmealsonwheels.com/) or animal shelters like Heritage Humane Society (https://heritagehumane.org/).
Work with local contractors and businesses
There are a ton of things you need to do to prepare your home for sale, from enhancing your curb appeal to making repairs and home improvements. You can use this opportunity to work with local contractors or support local businesses.
Home improvements – from minor cosmetic repairs to major home renovations – can increase your home value. Ask your Williamsburg real estate agent (https://cbtraditions.com/directory) to recommend remodeling contractors who work within the area. Not only would they be familiar with the usual issues that Williamsburg homes face, but they also know which home features have the highest appreciation rates in the local market.
Similarly, you can also purchase unique furniture and fittings from local boutiques and consignment stores. There are many benefits to buying from a consignment shop, such as its relatively low prices, great quality items, and environmentally friendly shopping process. If you stage your home with these items, you can even add a tag to let prospective buyers know where you bought them.
Here are some stores you might want to check out in Williamsburg:
The Vintage Rabbit (https://www.facebook.com/The-Vintage-Rabbit-116260868465116)
The Goodman Home (https://thegoodmanhome.com/)
Williamsburg Antique Mall (https://antiqueswilliamsburg.com/)
Lucky Junque (http://www.luckyjunque.com/)
Hire Realtors® with CSR initiatives
If you’re looking for an agent, Realtors® who work in companies with transparent Corporate Social Responsibility (CSR) initiatives are a green flag. These companies use their business operations for social improvement, whether by volunteering for community service programs, promoting diversity and inclusion in and out of the workplace, or by supporting various sustainability initiatives.
Moreover, if your real estate team puts socially responsible policies at the forefront, you can be sure that their professional relationship with you goes beyond simply making a profit – they will work towards what’s best for you and for the Williamsburg community.
Lastly, take note that great real estate agents are the ones who know their community from the inside out. That’s why many seasoned Realtors® are also community leaders who are active in various organizations and community programs. By hiring a real estate team with CSR initiatives, you get to work with local experts while also supporting their advocacies.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs.
Call Us Today!
Smart Home Features That Will Sell Your Home Fast
In today’s digital age, savvy buyers are looking for the latest smart home features and they’re willing to spend for them. A study showed that millennials are intrigued by the possibility of having smart technology in their home
(https://www.digitalinformationworld.com/2021/05/study-examines-rapid-rise-of-smart-homes.html), and this generation is beginning to become a force in the home buying market. This comes at a time when Transparency Market Research forecasted a $21.6 billion home automation industry last year.
Want to know which smart home features will sell your home fast? You’ll find out in this handy smart home sellers’ guide.
Smart security system
Buyers are reassured that their home will be well-protected from burglars if you’ve got a smart security system installed. This setup includes smart door locks that are WiFi or Bluetooth-enabled, so that you can unlock them from the outside, or anywhere using your smartphone. The August Wi-Fi Smart Lock is a popular choice because it supports Google Assistant, Amazon Alexa, and other third-party devices. You can also use your smartphone to turn your security system on and off.
While you’re away, you can receive text alerts regarding the system’s status. If you invest in a high-end smart security system, expect your security cameras to include features like two-way microphones. If you have pets, you might want to invest in the $249 Furbo, which lets you see, hear and talk to your beloved pooch. You can even use the Furbo to give your pet treats. These hi-tech systems also come with good warranties and excellent customer service.
Smart lighting
Wouldn’t it be cool if you could control your home’s lighting with a single swipe? It doesn’t cost as much as some think, and installing smart lighting will immediately boost your home’s value. Replace your LED bulbs to smart ones, and you should be able to control them with most devices, and link them to a larger integrated SMART Home network.
You can even customize your lighting schedule to make your lights brighter when you wake up, or to turn your lights off as soon as you leave home. Some lighting solutions are better for different moods, adjusting the brightness and color for a specific mood.
You may be able to save as much as 60% off your energy usage per year once you install a smart sensor or dimmer system. Energy Star says that lighting your home costs around $264 annually, which is roughly equivalent to 12% of your home’s energy bill in a single year.
Smart climate control
This technology has been around since the 1950s, but wasn’t widely adopted because many people found these clock-type thermostats too inconvenient or not user friendly enough to use. But now, as the internet of things (iot) begins to permeate our homes and lives, popular thermostats like the Nest and the Ecobee Smart Thermostat are proving to be a hit with homeowners.
Features now include humidity as well temperature control. Scheduling can be set for different times of the day. This is useful if you and your family have a regular routine. When no one is in, have the house have no active cooling or heating and have it turn on just before someone returns home. Or just override a schedule if you get an unexpected day off.
Integration into your home HVAC system is easy to set up meaning that control and scheduling can be done on a portable device whether it be phone or tablet. Almost all SMART technology is made to be compatible with the big players in the market, so expect full compatibility with Android or Apple devices.
Smart play
Many can be intimidated by the idea of setting up a home with all their entertainment, audio and visual linked to a Smart set up. However, having such things can make a strong impression on buyers. For many, it will give them a glimpse of what is possible. This could be controlling audio or music from anywhere and sending it to anywhere, as well as having different audio playing in different rooms. The same can be done with video, which can be streamed to any screen in the house. Smart home features are becoming increasingly desirable for new homebuyers.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs.
Call Us Today!
What Type of Warranty for Your Luxury Home?
Your luxury home in Williamsburg, VA deserves the best real estate warranty that you can afford. If your appliances or home systems unexpectedly break down, a home warranty plan ensures that you’re covered for what can sometimes be hefty repairs.
What is home warranty?
Home warranties differ from homeowners insurance in that they protect appliances and home systems. These will run into problems and faults as they age, and issues can arise from normal wear and tear. Homeowners insurance covers liabilities, housing costs and repairs or anything that may be considered property loss.
If you’re looking for real estate warranties for luxury homes, there are a number of things you should consider, such as the different prices, various plans, and optional add-ons. Customer service and speed of response should also factor in who you decide to get warranties from.
There are 3 types of home warranty to choose from:
Appliance plans:
As the name suggests, this warranty looks after your electrical and gas items and includes appliances such as freezers, stoves, and clothes washing and drying machines.
System plans:
This type of plan is more geared towards protecting the plumbing, and electrical system of a house. You can consider your ductwork and plumbing as part of this plan.
A Combination:
Ideally, you want to be covered for both individual appliances and for home systems. That way whether your actual appliance or your system goes down, you’re covered.
Cost of home warranties:
The cost will depend on what type of warranty you opt for. At the low end of the spectrum you could go for a basic package which only looks at repairs on household systems, a system plan. This could set you back as little as $300 dollars a year. For a luxury home that’s likely to have more comprehensive heating and plumbing systems, this could be well worth it.
However, a luxury home is also likely to have higher end appliances, which are not immune from wear and tear. At around the $600 dollar mark you could get coverage on both home systems and appliances, a combination plan.
Are warranties worth it?
If you’ve bought a home where many of the appliances are new or almost new, a warranty plan that covers appliances may not be worth it. This is because most appliances come with at least a year’s warranty, in many higher end appliances, the warranty could stretch out to 3-5 years. If you’ve specifically refurbished a house then you’ll know which items have existing warranties and how long they have to run.
If you’ve bought a house, it can be trickier as most of the time you’ll only see if appliances are in good condition and not necessarily know if they have existing warranties on them. In this case it may be a better idea to go with a package that includes coverage for appliances.
Bear in mind that warranties only cover repairs (https://www.bhg.com/home-improvement/advice/owners-manual/are-home-warranties-worth-it/), they do not help with any replacement of any appliance. So if your appliance decides to just give up and is beyond repair, that will be a large cost out of your own pocket. Another point to consider is that, as well as the package you buy, you’ll almost certainly have to pay for a service fee when you need some work done. This can range from anything between $65 to $125.
So is it worth it? A warranty provides peace of mind. And yes, you can save big. Instead of paying maybe over $1000 on a replacement appliance you could possibly repair it for a quarter of that with a warranty. So if you are buying a luxury home, the extra cost of warranties, although not inconsiderate, is not too expensive to have reassurance. As stated before, it depends on multiple conditions.
Choosing a provider
There are multiple companies providing home warranties and your choice will depend largely upon the various packages and prices they offer. However do look through the feedback of customers to let you know how customer oriented these providers are. Transparency in all their documentation is a good sign and have a look through testimonials, either on their site or better, on independent ones.
Are you looking for luxury homes for sale in Williamsburg, VA (https://cbwilliamsburg.com/williamsburg-virginia/)? You’ve come to the right place.
Our Real Estate professionals are knowledgeable and ready to assist you with your buying or selling needs.
Call Us Today!
