The Importance of a Home Warranty when Purchasing a Home
Buying a home is a long, exhausting process which is often overwhelming. If you are a first-time homeowner, the process can be especially trying, as you have no idea what to expect. Part of this process includes having a home inspection completed (usually required for financing), and deciding if the home you've chosen is a suitable option. It is a common misconception that a home inspection alone will protect you against the loss of funds should components of your new home need replacement. This isn't true. Read on to discover the difference between a home inspection and a home warranty. What is a Home Inspection? Often required by mortgage companies, a home inspection acts as a snapshot of the home you'd like to buy on THAT day. The average inspection costs around $400, and is based upon the square footage of the home being inspected. Included in your closing costs when financing, this expense is often unavoidable. The main purpose of the inspection is to