06/05/2026
First-Time Buyer Series | 4 of 10
Nobody talks about the real cost of owning a home.
Not just the mortgage. All of it.
Utilities. Maintenance. Repairs. Lawn. Snow. Appliances that break at the worst time.
One thing I tell every buyer, skip the home warranty. Read the fine print first. There is a deductible every single time someone comes out. The coverage is limited. It expires in a year. In my opinion these one year warranties do not do much other than give you the basics.
Instead, look at service plans through your energy provider. Xcel, CenterPoint, Minnesota Energy, they all have them. Plans start as little as $30 a month. They cover your HVAC, furnace, AC, and appliances. Some plans fix it. Some plans replace it. And in most cases there is no deductible.
Think about that for a second. A plumber alone is a couple hundred dollars just to walk in the door and look at something. Same with furnace and AC. A single service call can wipe out an entire year of plan payments.
That is not a one year gimmick. That is ongoing protection, real peace of mind, and long term savings.
I do not promote things I have not used myself. This is something I have had on my own home for years. This year alone I had them come out for my furnace, my water softener, and my refrigerator. My home is about 15 to 16 years old and things break. Every time I called, they came out within a day, ordered the parts, sent them to my home, and it cost me nothing out of pocket.
That is a real win.
Know what you are actually signing up for before you sign anything. And if you have questions about what to look for when budgeting for your first home, reach out. That is what I am here for.
Bill Owens Jr.
612-716-4626
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[email protected]
Your Goals. My Guidance. Our Success.
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