Should You Purchase a Home Warranty for Your Downtown Minneapolis Condo?

Note: Free weekly list of Downtown Minneapolis Condos including private listings and foreclosures in the most popular locations call the 24 Hour Recorded Information Hotline Now for details...1-888-391-9039 Ext. 126 or visit www.LivingInDowntownMinneapolis.com.

Buyers of Downtown Minneapolis condos often wonder if buying a home warranty is a good idea. In this article, we’ll discuss the pros and cons of buying a home warranty and why it’s usually a good idea. By the end of this article, you’ll be able to make an educated decision either way.

What is a Warranty?
A Downtown Minneapolis condo warranty is a guarantee that certain parts of your home won’t need repair. If they do, you only pay a small service fee of about $50 and the repair is taken care of.

For example, say you buy a Downtown Minneapolis condo and purchase a warranty. A few months after your purchase your air conditioner malfunctions. You call up your warranty company and they send someone over to fix or replace it.
Normally, it may cost you upwards of $1000. In this case, you only pay $100 or so because you paid insurance.

The Pro’s and Con’s of a Downtown Minneapolis condos Warranty
If the Downtown Minneapolis condo you’re buying has systems that are older than 10 years old, you almost definitely want to get a warranty. Systems such as the furnace, water heaters and plumbing aren’t replaced very often and can be very costly to replace. Downtown Minneapolis condos come in a wide range of conditions, so make sure you do your due diligence.  For the low cost of $300-800, the peace of mind it buys you is generally well worth it. Be sure to read the contract carefully so you know exactly what’s covered and what’s not. For example, repairing your microwave may not be included even if you paid for it with your condo.

Once you know what is covered, make an educated decision. Remember that with just one repair it will often pay for itself.

There is a lot of free information available to you about buying, selling or investing in  Minneapolis Condos or Minneapolis Lofts. For complete information about the Downtown Minneapolis condo market including current condos lofts for sale, values, and more please visit the most complete website online www.LivingInDowntownMinneapolis.com dedicated to everything Downtown Minneapolis Condos.  Contact Mike Weiland & Elke Stephan of The Weiland Group of Keller Williams with any of your real estate or mortgage related questions by filling out the form below.

P.S. Free weekly list of Downtown Minneapolis Condos including private listings and foreclosures in the most popular locations call the 24 Hour Recorded Information Hotline Now for details...1-888-391-9039 Ext. 126 or visit www.LivingInDowntownMinneapolis.com.