2. 1. Read your homeowners insurance
policy carefully
Don’t wait until disaster strikes to discover what’s
in your policy — get familiar with it now. Make
sure you have "replacement coverage" for your
contents instead of “actual cash value.” The latter
means that your insurance company will deduct
depreciation from the overall value of your
contents.
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3. 2. Save your home improvement
receipts
Home improvements that add to the value of your
home, prolong its useful life, or adapt it to new
uses — such as building a deck or adding central
air — can pay off when it comes time to sell. The
federal government allows a single homeowner
$250,000 in tax-free home-sale profit (double that
amount for married couples), but money spent on
capital improvements is subtracted from your
profit, reducing the amount you may have to pay.
For more information, visit the IRS website.
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4. 3. Know where the main valve
shutoffs are located
Keep your house and its inhabitants safe by
learning where your main electrical, water, and
gas shutoffs are located. Check at the main
breaker panel or outside near a service entrance
for your main electrical switch. Your main water
shutoff is likely located near your furnace or water
heater. The gas shutoff is located near the gas
meter, which may be inside or outside the house.
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5. 4. Inspect your roof regularly
Experts recommend getting your roof
professionally inspected if it’s more than 12 years
old. In the meantime, you can use binoculars to
check for deteriorated flashings or broken
shingles. If your roof is basically in good shape, it
may be necessary to only replace the damaged
or missing shingles. Make sure to keep leaves
and other debris off the roof — water can get in
through your shingles and ultimately to your
ceilings.
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6. 5. Look for leaks
Check periodically for water leaks and repair
them as soon as possible. The longer you ignore
a leak, the more expensive it can become to fix.
One way to tell if you have a leak is to turn off all
faucets and water-using appliances. Remove the
water meter box and see if the flow indicator is
moving. If it is, you may have a leak.
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7. 6. Don’t neglect your gutters
Plugged up gutters are disasters waiting to
happen. Gutters and downspouts need to be
debris-free so they can function properly, diverting
water away from the house and basement. Most
experts recommend cleaning your gutters no less
than twice a year. If you don’t feel comfortable
doing this yourself, hire a professional.
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8. 7. Know your neighbors
They’re good for more than an occasional cup of
sugar. Neighbors can keep an eye on your
house, hold onto a spare key or even help you
out in an emergency. And chances are their
homes were built around the same time as yours.
Pay attention to their house repairs and
issues, and you’ll be better prepared for what you
might soon encounter.
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9. 8. Weatherproof your house
A drafty house can be uncomfortable and
expensive. Take the time to seal air leaks by
caulking and weather stripping your doors and
caulking around your windows. Not only will it
save you money in reduced utilities bills, it will
make you aware of any potential door and
window repairs or replacements.
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10. 9. When it comes to finding the right
contractor, take your time
Save yourself a possible headache and do your
homework. Ask friends, neighbors, and
colleagues for recommendations. Reading
anonymous online reviews is a good start or call
the Better Business Bureau. Get three estimates
in writing, and make sure to include a three-day
cancellation clause in the contract. Avoid advance
payments — you should pay only for work that
has been completed.
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11. 10. Be careful where you store
hazardous products
Don’t store flammables near a furnace, water
heater or boiler. Instead, store them in a cool, dry
place, preferably on a different shelf from non-
hazardous chemicals. Remember to never
remove product labels, as they identify the
substance and contain important emergency
treatment information.
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