JULY 18, 2018 • Volume 13 • Issue 29
RE WEEKLY RESIDENTIAL • ACREAGE • FARM • COMMERCIAL • AREA DEVELOPMENT 515-233-3299 • 317 5th Street, Ames • All REALTOR® ads within are REALTORS® licensed in the State of Iowa
Online at www.AmesTrib.com/realestateweekly
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Realtors, do you want to reach a wider group of potential buyers? Advertise in the RE Weekly. In print and online.
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TIPS OF THE WEEK OUTDOORS
BATHROOMS
STORM PREP
ATTRACT BIRDS AND BEES
CREATE A ‘MAN CAVE’ BATHROOM
CONSIDER A GENERATOR
Ortho has partnered with the Pollinator Stewardship Council for a consumer education campaign, “Bee Responsible,” aimed at helping home gardeners protect the pollinators in their yards, attract more of them, and help them thrive.
It is possible to create a bathroom worthy of any man cave, and these tips from TOTO will show you how.
As homewowners prepare for the 2018 storm season, a big worry is the cost and danger they may face if they lose power, Kohler says.
• The right upgrades can turn any toilet into a throne. Look beyond the standard options to find something really unique.
Depending on the size, an automatic standby generator can power lights, HVAC, refrigerators, sump pumps, computers, TVs and home security systems, while smaller units can power a few key circuits.
• Plant nectar and pollen-rich wildflowers. • Use repellent products that are neonic free, never spray on windy days and avoid flowers. • Provide shelter and water.
• Installing heated floors in your bathroom can provide a much-appreciated dose of comfort once cooler temperatures arrive.
— Brandpoint
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DEAR MONTY
Tips when buying a home warranty
RICHARD MONTGOMERY
R
eader question: We are buying a home, and the agent suggested a home warranty to replace or repair things that wear out. The warranty covers such items for a year, after which time we can renew the contract or let it lapse. The cost of the coverage is over $400. We have asked people we know and the reviews from them range from it is a waste of money to a good idea. What is your opinion?
Monty’s answer: Home warranty contracts have been available for over 50 years. The experience gained over this period has allowed the providers, of which there are many, to tweak the language in their agreements to avoid misunderstandings with customers and also enable the industry to prevent excessive financial exposure. While home warranties are very different from home inspections, both business models operate on a certain degree of subjectivity, which leads to controversial interpretations. Interestingly, neither business model offers a warranty. A bad experience shapes opinions. On the other hand, many customers stand by the product as worthwhile. There are many instances where a home warranty provided peace of mind and cost
savings for the owner of the contract. Some home components are quite expensive, and the cost of parts and technicians on service calls can add up quickly. Considerations All home warranty companies are not equal. The contract language varies, they have different exclusions and coverage, they judge repair or replace differently, and the management of customer service departments is not the same. Do not expect a new furnace if the current one can be repaired. Be cautious in Internet searches for paid ads that rank companies by the cost of their ad. Understand that you are buying a service contract and not a warranty. The name home warranty is part of the industry’s problem because the very name promotes it as a warranty. State regulators do not agree from
state to state whether a home warranty is an insurance policy. Read the contracts yourself. You will be the one discussing your claim with the company if you have a claim. Do not ask your agent questions because they likely have not read the contract. If you have questions after you have read the agreement, you are better off calling or emailing the company with your questions. Start a fund. Start with the cost of the home warranty and add each month to build a reserve. Richard Montgomery is the author of “House Money - An Insider’s Secrets to Saving Thousands When You Buy or Sell a Home.” He is a real estate industry veteran who advocates industry reform and offers readers unbiased real estate advice. Ask him questions at DearMonty.com.
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