After buying your last home, you probably experienced a whole range of emotions. You were most likely ecstatic that you had your own, permanent, place. You may have felt a little trepidation as you looked at how much you had paid to own that permanent place. You may have felt even more trepidation as you looked at how much money you would be spending on the house in the future. And once you realized that a home is much more than the monthly mortgage payment, you may have gone into a full-blown panic. (Of course, we're hoping that if you realized that, you also had home warranty coverage, so a little bit of that panic receded.)
Don't worry! We've all been there.
A home has a lot of hidden, extra costs that sometimes reside deep within its walls, or right in front of your nose. There are property taxes, homeowner's association fees, and (most frightening perhaps) are the constant repairs and maintenance. Not to worry. These are three of the top home repairs that you will most likely encounter in your new home. We've also included an estimation on how much each repair will cost. Of course, most of these costs can be diminished by getting home warranty coverage for your home.
Replacing a Garbage Disposal
Ah, the garbage disposal. It's such a convenient tool for getting rid of unwanted food. But eventually, even if you're making sure you put the right types of food down it, its motor will burn out and you'll be left with piles of food scraps and nowhere to put them.
That's going to get very unhygienic, very fast.
Now, while you could start a compost bag with all of those food leftovers, it's still nice to have the option of a garbage disposal. Garbage disposals last for approximately 10 years with proper maintenance, and although they can be repaired, it's more than likely that they'll just need to be replaced altogether. When you're moving into a home, chances are that you won't have brand new garbage disposal "“ it's one of those things that home sellers never worry about replacing, so watch for it to burn out quickly.
As far as costs, they're not the most expensive home repair you could be facing, with new models coming in around $400. You can save money by replacing the unit yourself, but without proper experience in replacing a garbage disposal, you could end up with a leaking mess on your hands. If you don't know what you're doing with 100% certainty, it's always best to call a contractor.
If your home has home warranty coverage for repairs, you could save money on the repair or replacement of your garbage disposal. Home warranty coverage repairs or replaces appliances in a home that fail from normal wear and tear, and you usually only pay a small service call fee.
Replacing Ceiling Fans
Ceiling fans are usually an afterthought in a home, until you realize how inexpensive they are to cool or heat your house. You can save a lot of money by turning off your air conditioner at night and just running your fans to blow a breeze through your bedroom. However, with all of that use, a ceiling fan's motor can burn out, requiring you to repair or replace the motor when it fails. If you're just moving into a new home, beware that the fans are probably getting old and worn out. Fans are another item that sellers don't stress about replacing since they are such an afterthought.
Unless the ceiling fan fails from a problem relating to the electrical wiring with the fan base, you will generally only have to pay for a new fixture and for your electrician's time. A new fan body will cost around $100 to $500 depending on the type and model.
With home warranty coverage, you can get a great deal on repairs or replacements of ceiling fans if they've worn out from old age and use. You can pay a service call fee and get them repairs or replaced.
If there's anything more annoying than the steady drip, drip, drip of a leaky faucet then we don't want to know what it is. A leaky faucet in the middle of the night can cause sleeplessness, irritation and an expensive water bill. According to the Environmental Protection Agency, a leaky faucet is one of the most common causes of water loss in a home. They estimate that the average house wastes around 10,000 gallons of water every year. If you think of how much you're paying for that water, a plumbing leak can also probably give you a headache.
Obviously, plumbing leaks are bad for your budget and apparently also bad for your health, but they can also be bad for the appliance itself. If the faucet continually leaks you would be wearing away the enamel of the sink underneath it. Generally, when you buy a new home a leaky faucet is the last of a seller's worries. They'll most likely be trying to repair bigger issues, before getting you home warranty coverage. And of course, you're not going to notice a leak on a walk through. In fact, you probably won't notice a leaky faucet until 3 a.m. on a Thursday morning when you can't get to sleep and you're trying to find out where that infernal dripping noise is coming from.
Luckily, a leaky faucet is relatively a simple fix. You can replace it yourself to save money. It usually is just a worn out washer that needs to be replaced, which can cost around $2 at a local hardware store. However, it's always a good idea to ask a professional to take a look and diagnose the problem before you take your sink apart and put it back together, and still end up having a leaky faucet. Talk about an even bigger headache!
Depending on the level of home warranty coverage you have, you could be able to get a leaky faucet repaired for a small service call fee. However, some home warranty coverage plans don't include faucets, so check your coverage carefully.