Home Warranties, Why & What They Are For

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One of the biggest questions realtors get when purchasing a home, is there a need for a home warranty.  If you are a first time home buyer, as a renter you are used to a landlord that would fix any issues you run into – but that all changes when you become a homeowner.  Now, when the water heater breaks down or your furnace is not heating in the middle of the winter, or when that fridge starts to leak there is no landlord to call.  So what do you do now?  You may have a family or friend or boyfriend/husband who can handle the smaller fixes, but when it comes to the big ticket items that will require a professional that may cost a pretty penny.  That is where a home warranty can save the day.

A home warranty is similar to insurance, it covers some or all of the costs of replacements or repairs when a system in your home malfunctions or stops working altogether.  They range in annual costs of $300-$900 and remove the middle man in the fixing process.  Instead of finding someone to fix an issue, you will directly contact your warranty provider and they will setup the repair or refer you a local contractor.  Your premium usually covers all the costs, with the exception of a co-pay which is typically around $50 or so.

If you’re wondering who should buy a warranty, they are usually recommended for first time home buyers who have rented up until that point. When you are used to having a landlord, a home warranty can fill that role in a different way. Home warranties are great for homes with both members in the work force outside of the house or just busy family members who can’t always be home to wait for the repair person window or find the time to even get quotes for the best repair shops in the area. Home warranties aren’t just for first time buyers, though. If your appliances are nearing the end of their life expectancy, now would be a great time to get a warranty. If all of your appliances were purchased in the same time frame, you don’t want to face the costs of them all failing at the same time. Warranties can save you time and money, especially in the first year of ownership.

Any other questions in regards to real estate – reach out!

Lisa

What You Need To Know For Winter House Hunting

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While house hunting in the winter was never really a thing of the past, today’s culture keeps things going year-round – which means finding a home can be done at any time of the year. While exploring in the cold might be your focus or concern, house-hunting in less-than-ideal conditions can show you things you can’t always see on a warm, sunny day. Here are some things to keep in mind as you try to find a home before the holidays.

Winter Weather Can Help You See Hidden Flaws

Even if you don’t love the cold and snowy weather, it can help you see household flaws that you may not see in the warmth of summer. Maybe the windows are drafty or there is a major loss in privacy when the trees are bare from the cold. It will also help you to love your home for its’ bones, and only love it more when warmer seasons arrive bringing flowers, grass, and colorful foliage.

Photos Can Help Fill In The Blanks

It can be hard to picture what a poolside oasis looks like when it is covered in snow. This is where photos can save the day. Whether they are listing photos or images from previous owners, seeing certain parts of the home in better weather may check the final box for a home you are falling in love with.

Know How To Handle Features Unavailable In The Winter

If that pool you fell in love with isn’t operational in the winter, you should request that they leave money in escrow or extend the closing time frame so that you can inspect the pool when warm weather returns. Sellers are responsible for remedying any issues unless they provide a disclosure about some part of the pool not working.

Negotiating Price In the Winter Months

Depending on the situation and area you are looking to buy or sell in.  Some buyers may be more able to score a deal on a home without the hassle that the spring market may bring.  There is always a benefit to selling in spring months due to higher demand and better chances of getting over asking price.  But you can still easily sell in the winter months and get asking price and score yourself a deal as you move onto your next home as well.  Sellers in the colder months may be more apt to negotiate or be a bit more flexible as they are more eager to sell.  And shopping for a home in the winter months overall is a much more slower paced experience than the hussle and bussle of the spring home market.

So don’t let those cold temps stop you from making a move this winter and call today!

 

New Year, New Goals, New Homes

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And just like that the holidays are over.  The tree made its way to the composite site and the decorations have been put away.  We took some much needed time to ourselves as a family to be present with our kids.  However, we hope you got some needed rest and downtime to reset for the new year.  And if you are like us, with two very young kiddos that rest time is few and far between.  Either way, we sure hope the holidays brought some rest and rejuvenation to start your new year off right.

As Brandon and I take a minute to reflect on 2018 and all that it encompassed, I think the right thought right now is “phew what a year.”  This past year has been an absolute whirl wind, we conquered and accomplished goals we thought were not achievable and grew exponentially both professionally and personally.  With every business and every part of each of our lives personal or professional we have our ebbs and flows, it is a natural part of our daily life cycle.  Things simply cannot always go the way we want them to.  But the goal is to take each challenge, face it dead in the face and push through it.  And the goal, to hopefully learn something valuable and apply it.

In 2018, our team completed over 30 RENOVATION PROJECTS from bathroom, kitchen and living room remodels to decks, siding, windows, doors, flooring and a complete overhaul of a corporate office space.  We highlighted some of our projects in the blogs gallery.  On the real estate side, Lisa closed a total of 14 closed sales for the year, selling $3.7M in property.  So in short, we are extremely grateful for every supporter and client for your business and support.  THANK YOU for believing in us.

But as we close the book on 2018 we look to 2019 with new goals and plans in mind.  And we cannot wait to share each new milestone along the way.

Wishing you all the best this new year!

CONTACT US

LakeWood Homes & Remodeling

PO Box 446 Annandale, MN 55302

team@lw-homes.com

612-802-2822

        

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