Home warranties provide peace of mind for home owners, property management, and realtors. But is it worth it to pay for a home warranty and limp your outdated unit along versus replacing it with a new one that comes with its own warranty? Let’s take a look at the different scenarios.
The Pros and Cons of Paying for a Home Warranty
A home warranty can be beneficial in certain situations where an expensive repair or replacement would be necessary without it. You may also get additional coverage on items that are not covered by traditional homeowners insurance such as air conditioners or refrigerators. On the other hand, there are some drawbacks to purchasing a home warranty. The cost of the warranty can be considerable, and you may still have to pay out of pocket for any additional repairs or replacements beyond what is covered by the warranty. Additionally, you may have to wait several weeks before receiving service due to backlogs from the warranty company.
The Pros and Cons of Replacing Your Unit with a New One
Replacing your unit with a new one will come with its own set of pros and cons. The major benefit is that you will receive a brand new unit with its own manufacturer-backed warranty that covers parts and labor for anything that might go wrong during the life of the product—which could help you save hundreds if not thousands of dollars over time. On the other hand, replacing your unit requires an initial investment that might exceed what you would pay for just one year’s worth of coverage under a home warranty plan. Additionally, depending on how old your current unit is, replacing it might not be financially feasible due to age-related depreciation or other factors such as installation costs or local building codes.
When deciding between paying for a home warranty or replacing your unit with a new one, there are many factors to consider before making an informed decision. Ultimately, whether it’s worth paying for a home warranty will depend on the age of your current unit and how much money you would save compared to buying something brand new. Weighing both options carefully can help ensure that you make the best choice possible when faced with this decision. Whether you decide to purchase a home warranty or replace your unit entirely, Suttle Air in Gilbert Arizona has all your HVAC needs covered! Contact us today so we can help you make an informed decision about what’s best for you!