There's so much in common between buying a house and buying a car, but it doesn't usually occur to me, since buying a house is such an infrequent event.
When you buy a car, of course you look at the manufacturers' Auto Warranty, and consider if that's enough or if you'll want the Extended Warranty. For someone like my husband (who likes to and is good at working on cars), the decision isn't one that he gives much thought. But when I was single, this was sometimes a hard call.
I worked hard for my money and didn't want to spend it on a Car Warranty I may not need. On the other hand, if I was ever without my car, it was bye-bye income, so I had to consider if it was worth investing in the piece of mind I'd get from knowing any car repairs would be promptly taken care of without additional expense to me.
It turns out a house purchase can provide some similar benefits with an extended home warranty. That's been our first comforting thought when we realized the other day our air conditioning isn't working. Of course, this is Michigan and the temperature has now dropped by 45 degrees in just a few days again. Maybe we won't need the air? Ahhh...but when we do, if the fix isn't obvious, the warranty will help us out!
The exact same thing happened to us - first hot day in our new house and the air wouldn't work! Makes the Home Warranty well worth it!
That's what happened with our home too.... actually that's when we learned that there had been a fire in out kitchen! But it does bring peace of mind.
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