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Updated over 3 years ago on . Most recent reply

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Peter J Struck
  • Investor
2
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14
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Home warranty for Single family home rental?

Peter J Struck
  • Investor
Posted

Is purchasing a home warranty a good idea for a single family home rental property?

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Replied

Hi Peter, 

Great question. Anyone feel free to disagree, but if it were me, I would weigh the age and condition of the house as part of the consideration. I would also try to discover if the basement was finished by a licensed professional vs a rookie who doesn't know the ins and outs of DIY. I wonder if you can see if a permit was submitted to the city to have any work done? 

If the house is so old that it has ancient pipes that have never been serviced, or massive trees all around the house that could have roots burrowing into them, etc, etc. Then a warranty might be good. If it was built in the last 15 years and the owners lived there, i might not feel one is necessary. Im sure some folks are buying peace of mind no matter what the house looks like, which can be priceless. Just food for thought. 

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