Home Warranty Plans: How To Choose The Right One

Published on: 01 March 2023 Last Updated on: 02 March 2023

Deciding to buy a home warranty plan is a smart move for homeowners. However, with so many providers and options out there, picking the best one might feel overwhelming. Luckily, there are many things a homeowner can research to ensure they select a policy that will serve them well.

Home warranties are different than insurance. Home warranty plans are supplemental contracts that cover common household repairs. Policyholders have monthly or annual premiums and pay a discounted rate for qualified service calls. Here’s what potential buyers need to ask when looking at homeowners’ warranty policies.

What Does The Plan Cover?

Not all home warranties are the same. One plan might cover household appliances, but another might include systems. Air conditioning coverage isn’t always included or might only be offered as an add-on. The same goes for refrigerators. Systems include electrical, plumbing, and water heaters, but once again, not all policies cover every system. Optional coverage options could include sump pumps or septic tanks.

Before signing on the dotted line, double-check what the preferred plan covers. Take inventory of all appliances, and compare the list to several policy options. For example, a built-in microwave might fall under optional coverage. Selecting the right amount of coverage now will save money down the road.

How Much Is The Premium?

Sticking to a budget when shopping for a home warranty is important. The cost depends on a number of factors. High-coverage plans with additional add-ons will be more expensive than a standard policy. That’s why asking about the price before picking a plan is essential.

The premium is how much the policyholder pays for the plan. Some companies charge a lump sum annually, while others divide the premium into monthly payments. It’s also wise to inquire about any deductibles required when making a claim.

How Long Is The Waiting Period?

Most home warranty providers have a mandatory waiting period before paying benefits. The most common is a 30-day period. Further, a coverage gap between policy renewals might trigger another waiting period. Before signing the contract, find out when benefits will be in place.

What Are Current And Past Customers Saying?

The goal of a home warranty agent is to sell a policy. Of course, they will sing the highest praises about their company to lure in new customers. However, are they telling the complete truth? Instead of believing an agent, find out what other customers have to say.

Customer reviews are the best way to get an honest, blunt opinion about a home warranty provider. Read all the reviews, including the good and the bad. What compliments does this provider receive the most? What are their weaknesses? Online home warranty reviews help homeowners make a more informed decision.

What’s In The Fine Print?

Home warranty plans are long and often hard to read. However, buyers need to read every word, including the fine print. Look for any exclusions, such as pre-existing wear, cosmetic damage, or manufacturer warranties. The right plan will be upfront and easy to understand.

Get A Quote And Repeat

Home warranties save homeowners a bundle on appliance and system repairs. However, picking the right one takes time, research, and effort. Ask all the questions mentioned above when comparing plans, request a quote, and repeat the process with another provider. Doing so will ensure the warranty you ultimately select serves you well into the future.

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Abdul Aziz Mondol

Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

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Commercial and Residential Construction: Key Differences

When it comes to construction, many business owners, who have faced residential projects before, are surprised at how different commercial projects are. The difference between commercial and residential construction approaches is big, starting from the volume of work and ending with regulations We’ve turned to the experts to list the key differences between commercial and residential construction. Knowing them is especially important when choosing general contractors and checking their portfolio, permits, and credentials. Commercial vs Residential Construction: Definition Before we go further, let’s define commercial and residential construction. When we are talking about commercial construction, we mean creating a building for commercial purposes. It could be a store, office, school, factory, storage facility, warehouse, and more. When it comes to residential construction, it involves building something for residential living, including houses, apartments, condominiums, etc. At first glance, it may seem as if the approaches to these two types of construction are similar. However, they vary substantially. There may be a certain crossover between the skills of commercial and residential construction experts. However, a company that focuses on commercial construction may not have what it takes to deal with residential projects and vice versa. Regulations and Permits According to construction experts from afsgeneralcontracting.com, the key differences between these two types of construction are codes, regulations, and permits. Any kind of construction project requires special permits to be completed. For commercial projects, the number of these permits and codes is much higher than for residential buildings. Safety codes pertaining to parking lots, elevators, fire safety, and more are different for commercial properties. General contractors must have extensive experience following these codes since failing to do so could result in the entire project being done in vain. Commercial buildings come with elaborate concerns for electricity, IT, and parking. That’s why the level of complexity for working with such properties is much higher. Building codes and standards don’t just vary from residential to construction projects. They can be different in each state or even city. That’s why it’s important to check whether the general contractor you’ve chosen has experience working in your area. Materials As soon as there is a building design in place, it’s important to identify materials needed for the construction project’s completion. Usually, materials required for commercial construction are drastically different from what you would purchase for a residential construction project. For example, an average residential building requires more wood since it uses a timber frame construction. Such an approach is considered to be cost-effective and well suited for buildings of smaller size. Even though some residential building owners prefer a steel frame for integrity, not too many agree. The reason is a much higher cost. Requirements for commercial construction project materials are stricter. The design is usually more complex than for residential needs. Timber framing often doesn’t cut it for large commercial buildings. Steel is the preferred material for companies building commercial properties. It’s resilient and allows for higher integrity and longevity of tall buildings. Obtaining large amounts of steel for framing requires an established relationship between a contractor and supplier. It may be easier for the residential owner to purchase timber directly from the vendor. However, in both cases, it’s better to rely on the contractor to find the right materials. Equipment and Training No matter how large and complex residential buildings can be, they are small and simple compared to some commercial projects. The large size of commercial buildings requires special equipment and workers’ experience. Operating tall cranes is different from working with aerial lifts. Meanwhile, the cost of such equipment, even if it’s rented, is much higher. Height-access equipment for commercial projects require specially trained operators. It’s also harder to find than aerial lifts for residential construction purposes. Some parts of residential construction projects are sometimes done by owners themselves or contractors using “How-to” videos. Even though it sounds questionable, these people often reach satisfactory results since the tasks aren’t hard. However, such an approach can never work for commercial projects. Mistakes that construction workers make with residential projects are much easier to fix than those occurring with commercial construction are. Meanwhile, commercial construction errors are likelier to result in a lawsuit. In most cases, residential construction workers need additional training to deal with commercial projects. Deadlines Commercial project deadlines are usually much stricter than their residential counterparts are. Higher construction costs and better-organized workflow usually mean that commercial construction tasks are executed much faster. For a company, a faster construction process means lower costs for labor and reduced financial investment. This motivates commercial construction workers to complete the project quicker. When it comes to residential projects, homeowners have a tougher time setting deadlines since they are prone to making changes. Meanwhile, some homeowners experience financial problems during the construction project, which may hinder deadlines. Residential construction projects require fewer workers than commercial construction does. This may also slow the process down. Costs The biggest difference between residential and commercial construction is cost. It doesn’t just stem from materials and compliance standards but depends on the costs of labor and equipment. The number of workers, as well as their experience and training, may reflect on the project costs tremendously. So can the use of specialized equipment, which is tougher to find and more expensive to rent. Residential projects require all of the above as well. However, due to their smaller scale, the costs go down proportionally. The approach to funding is different as well. For commercial projects, funding is found through bank financing, government agency or a wealthy owner/developer. Meanwhile, the homeowner usually funds a residential project through a loan. Final Thoughts Commercial and residential projects can be drastically different. The key differences between commercial and residential construction are materials, equipment, worker training, costs, and deadlines. When choosing a general contractor, the difference between the two is highly important since a company that deals with residential projects may not take up commercial construction tasks and vice versa. Read Also: Lifting and Rigging Equipment—Your Hardware Guide 3 New Age Engineering & Construction Technology All You Must Know About Construction Business Management Software

Things to Know Before Applying for a Vermont Mortgage Loan

First-time homeowners may be intimidated by the process of purchasing a home. It's not always straightforward to keep track of the stages, the individuals involved, and the resources required to become a homeowner. It's a good idea to acquaint yourself with the method before plunging in headlong. Preparing for a Lender and Selecting a Vermont Mortgage Loan As soon as you're ready to buy a home, it's critical to have some basic knowledge to make the process go smoothly. Find a mortgage lender first. Mortgage lenders provide loans. As a mortgage shopper, you have many options. You can go local or online. You can also choose the type of loan you get. Finding the right lender can be difficult if you've never bought a home before. Before looking for a mortgage lender, you should know what type of loan you want. First, decide whether you want an adjustable or fixed-rate mortgage. It would help if you also considered the loan's duration. The term of the loan determines the interest rate. Pay off the loan as quickly as you can. If you know how long you want to pay back your loan, you can find a lender who offers it. Once you know what you want, you can start searching. Pick a Mortgage Option There are generally three sorts of loans available: i. Private vs. Government Loans The great majority of mortgages in the United States are originated by savings organizations, banks, and mortgage lenders. If you make a down payment of less than 20% on the property, the lender is likely to require you to buy mortgage insurance (PMI). This insurance may be paid in full at closing or rolled into the loan. VA loans do not require mortgage insurance, but they are only available to qualified veterans. Mortgage insurance protects the lender to some extent when a borrower defaults on a loan. FHA and VA loans are distinct from conventional loans in that the government does not lend the money directly but rather guarantees (or insures) repayment to the lender in the case of default. Because government loans require a lower down payment and usually have a lower interest rate or points, they provide a variety of significant advantages over conventional loans. Unlike private loans, which are not subject to these limitations, government loans take longer to process, have higher closing costs, and have a lower maximum loan amount. Many government loans also require that the property being bought be in reasonable condition, which precludes the purchase of a "fixer-upper." ii. New vs. Assumable Loans Certain types of loans, such as FHA and VA loans, and some adjustable-rate loans, may be eligible for rollover. This means that a new owner may assume an existing debt under the same terms as the previous one. In some instances, obtaining a loan may save both money and time. Typically, the buyer pays an assumption fee at closing to cover the lender's costs for completing the deal. iii. Variable vs. Fixed Rate Loans Fixed-rate loans come with a fixed interest that lasts for the loan duration. In other words, your monthly payment will remain constant unless escrowed taxes and insurance premiums vary. Interest rates and monthly payments on adjustable-rate mortgages (ARMs) can fluctuate over time. These mortgages typically offer lower interest rates, lower monthly payments, and fewer fees and points than fixed-rate mortgages, making them an attractive option for first-time homebuyers, younger couples whose incomes are expected to grow in the future, and individuals who may lack the necessary funds for a down payment and closing costs. Determine the Lender Type Having a basic understanding of the different types of lenders is helpful when comparing financiers. First, there are mortgage lenders employed by banks or other organizations responsible for setting the loan terms and the repayment schedule and costs. "Direct lenders" are also known as "retail lenders." Instead of going through an intermediary, they directly sell their mortgage products to customers. Loans made by correspondent lenders are originated and funded by them, but they are sold to larger lending institutions as soon as they are completed. As an intermediary between lenders and customers, mortgage brokers act on behalf of their clients. Commissions are not owned by either the borrower or the lender. Loan brokers can tailor lenders and loan programs to your specific needs. You might be able to negotiate lower interest rates and terms with several different lenders with their help. Documents Required for a Vermont Mortgage Loan Keeping track of one's finances is advantageous. To expedite and streamline the pre-approval process, ensure that you have all of your financial information organized. If your documentation is well-organized and readily available to lenders, you'll be able to get a loan more quickly. These are some of the most common documents that most financiers will need: W-2 forms for the previous two (2) tax years A copy of the agreement or contract for the purchase and sale is required. (If you already have a deal in place with the vendors, Pay stubs for the last thirty (30) days. If you only have one, that will suffice for the time being. The most recent 401(k), IRA, or mutual fund transaction is summarized. If you cannot locate these, provide the lender with an estimate of your non-liquid assets, and they will work with that. Photo identification Two of the most recent monthly bank statements in their entirety Provide the last two years of corporate returns, including K1s, if you are self-employed through a corporation. For self-employed borrowers, commission-based salespeople, and landlords, most lenders require federal tax returns for the last two years, including all schedules. The only thing standing between you and your first home might be the Vermont mortgage loan process, which can be overwhelming if you’ve never purchased a house before. It would be best to have reliable and trustworthy guidance to help you navigate the housing market. You want a lending institution, like New England Federal Credit Union, that puts a team to work for you. Be sure you have experienced Vermont mortgage loan experts on your side, from application to closing, for peace of mind and assurance that you’re getting the home you love. Read Also: Things to know before buying a new house Everything You Need To Know About A Post Office And Its Services When Is The HAMP Program Beneficial To You? 10 Ways a Low Credit Score Can Negatively Impact Your Life

Top 5 Reasons To Invest In Oceanfront Homes

Are you thinking of investing in a home? If so, you may want to consider investing in oceanfront homes for sale in North Carolina. There are many benefits to doing so. This article will discuss five reasons why oceanfront homes are a great investment. 1. High Demand For Tourists Oceanfront homes are highly coveted and usually come with a heftier price tag. But if you're looking for a great return on investment, oceanfront homes for sale in North Carolina are worth considering – they're in high demand, after all. Across the globe, oceanfront homes for sale can guarantee to attract attention from potential buyers as soon as they're put on the market. This is because oceanfront homes provide amazing views and a distinctive way of life - you can watch the sunrise over the ocean every morning or take an afternoon stroll by its pristine shores. Additionally, oceanfront properties make ideal vacation homes as many travelers are keen to experience luxury resort-style living without breaking their bank accounts. 2. Variety Of Sporting Activities Investing in oceanfront homes for sale in North Carolina is an excellent idea for those who love physically active lifestyles and enjoy participating in various sports. Whether you’re looking for a spot to challenge yourself with swimming, kayaking, surfing, or any other ocean-related sports, oceanfront properties typically offer the perfect atmosphere to do so. These activities can be done close to home, and the oceanfront view can also increase your enjoyment. When you purchase an oceanfront property for sale nearly anywhere, you have immediate access to many of these activities. 3. Serene Environment` Oceanfront homes for sale in North Carolina offer a unique combination of peace and grandeur that cannot be matched. The sound of the ocean waves crashing against the shore, the view of white sand and crystal blue waters, and the gentle ocean breeze against your skin make oceanfront living serene. These feelings of relaxation can be a realization of freedom, allowing inhabitants to escape the stresses of work or life in general. 4. Like-Minded Neighbors Another reason to invest in oceanfront homes for sale in North Carolina is the like-minded neighbors you'll find there. Not only will these neighbors be able to share their appreciation of ocean life and oceanfront views, but they’ll also be knowledgeable about unique situations. like storms and sea level changes. With this kind of community, you’ll feel supported by those around you living in oceanfront housing. 5. Improved Health Lastly, living near ocean water has been linked with many positive benefits for physical and mental well-being. An oceanfront home allows you to enjoy the ocean air, which contains beneficial minerals. Getting out and going for a walk or swimming along the waterfront can be a great stress reliever and has been shown to boost moods and energy levels. The relaxing sound of ocean waves and the salty ocean breeze offers an environment that improves sleep quality and provides more restful nights. Find Your Oceanfront Homes For Sale In North Carolina Finding oceanfront homes for sale in North Carolina is a process that takes time and patience. However, finding your perfect dream home is well worth the effort. With the help of a real estate agent, you can easily find it for sale that meet all of your specific criteria. So, what are you waiting for? You can start searching for your new home today. Thanks for reading. Additional: Top 5 Most Expensive Beachfront Homes Interiors to Reduce the Heat Build-up in Your Homes 5 Things You Should Know About Heating and Cooling Tiny Homes

Home Warranty Plans: How To Choose The Right One

What Does The Plan Cover?

How Much Is The Premium?

How Long Is The Waiting Period?

What Are Current And Past Customers Saying?

What’s In The Fine Print?

Get A Quote And Repeat

Read Also:

Selecting The Perfect Real Estate Agent Is Essential For Home Buyers

The Ultimate Guide To Installing Power Lines With Ease

Abdul Aziz Mondol

Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

Leave a Reply

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Commercial and Residential Construction: Key Differences

Things to Know Before Applying for a Vermont Mortgage Loan

Top 5 Reasons To Invest In Oceanfront Homes

Home Warranty Plans: How To Choose The Right One

What Does The Plan Cover?

How Much Is The Premium?

How Long Is The Waiting Period?

What Are Current And Past Customers Saying?

What’s In The Fine Print?

Get A Quote And Repeat

Read Also:

Share this Article

Selecting The Perfect Real Estate Agent Is Essential For Home Buyers

The Ultimate Guide To Installing Power Lines With Ease

Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

Leave a Reply

Popular

Follow Us

Recent

Related