Home warranties frequently cost around $450.00. A listener asks Dave Ramsey if he thinks a home warranty is worthwhile to purchase. The point Dave made was that a home warranty company could not stay in business if each person that paid $450 for a home warranty had claims that were at least $450. In fact, Dave indicates that less than 25% of the funds collected from purchase of home warranties goes towards home repairs.
Dave maintains that if you have a 3-6 month reserve, it's more cost effective to use that reserve, if necessary, instead of purchasing a warranty.
Dave also indicates that realtors get a kick back from their client's purchase of a home warranty. That is definitely NOT the case here in Colorado. A realtor can not accept a kick back from a client's purchase unless that is disclosed in writing to the client. That is actually written into the listing contract.
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Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service