Does anyone use home warrantee companies?

[Shanna Barnes]

Today I am not in a financial position and have not owned my invest long enough to have a pool of cash to pull from if there is a large unplanned repair. I was wondering what others think of utilizing these warrantees to off set large repair costs. Right now I will pay a flat fee for a technician to come out and this covers the total cost of the repair (in most cases as long as not structure alterations are made to the home). For example, I needed to pay to have an vent outlet altered when I had a furnace replaced. Coverage depends but can include electrical systems, plumbing, appliances, garage door opener, and garbage disposal. Fee to come out is $100... so if you know your repair would be less with a handyman etc. you should just call a handyman.

Any experiences with these? Thoughts? 

[Anthony Wick]

@Shanna Barnes . Yes. Sort of. I invest in duplexes. I always ask for the seller to purchase a 12 month home owners warranty. This has actually been successful most of the time. It allows for any large maintenance repairs to be covered for a year while the property becomes self sufficient. I have never renewed the warranty, or paid for one out of my own pocket. If the seller declines, like my last purchase, I work out a better price on the purchase. Yes, warranties can be a pain and time consuming, but they have saved me money in the long run since most purchases will have problems in the first several months.