New Owner Tips Page 2:

Taking Care of Your Investment

The movers have gone, you've unpacked the boxes, and you may even have celebrated with a moving-in party. Now what? You've just made a big investment, so you will want to protect it. In this section you'll learn about the care and feeding of your new home.
There's quite a lot to learn about taking care of your home, but you will have plenty of help and a lot of it is free. Most home center stores offer free classes on everything from fixing a leaky faucet to hanging wallpaper. Some cable television networks broadcast nothing but home improvement programs. The library and bookstore are also good sources for information. We've provided some basic information to get you started:

• Learning About Your Home's Systems
• Maintaining Your Home
• Taking Care of Your Budget

Learning About Your Home's Systems

Today's homes are filled with systems that make living in them comfortable and safe. Spend some time to find the following items:

• Fuse box or circuit breaker box. Fuses and circuit breakers manage your home's electrical power. You will most often find these boxes in a garage or basement, but they may also be found in the living area. There may be information printed on the inside cover of the box on how to safely replace fuses or reset breakers. Each breaker or fuse should be labeled, for example "kitchen lights." If that has not been done, have someone watch which lights go off as you trip a breaker or remove a fuse. Then make labels for each.
• Water shutoff valves(s). In addition to a main shutoff valve, your home may have shutoff valves for outside hose faucets. Depending on where you live, you may have to drain and shut off these outside connections to prevent freeze damage in the winter.
• Smoke detectors and fire extinguishers. Press the test button on smoke detectors to make sure they are operating properly and replace any batteries that no longer work. Read the information on any fire extinguishers and put them in a spot that's easy to get to in case of fire.
• Meters for water, gas, and electricity. Most meters are still read manually. You should trim back any shrubbery that covers the face of a meter so that the meter reader can easily see the dials.
• Filters for heating and air-conditioning units. Note the type, size, and style of your filters. You should inspect and clean or replace filters on a regular schedule. This will help keep the air in your home clean.
• Other systems such as a burglar alarm, exterior lighting, and garage door opener. The home's builder or previous owner will often leave instructions for these features. You can also contact the manufacturers for owner's manuals. In the case of a burglar alarm, you'll want to contact the company that provides security services.
  

Maintaining Your Home

Keep your home in good shape so that you'll enjoy it for years to come plus get the best deal when you are ready to sell it. You can do most maintenance jobs yourself. You'll want to let professionals handle bigger jobs (some jobs must be handled by licensed professionals). Following is a list of common maintenance tasks:

• Replace furnace or air conditioning filters
• Test and replace batteries in smoke detectors
• Replace caulk on tubs and sinks
• Vacuum the coils on the back of your refrigerator
• Wash window and door screens and make any needed repairs
• Drain and shut off outside hose bibs for winter
• Trim small shrubs
• Clean leaves and other debris from window wells
• Inspect, clean, and lubricate garage door hinges (follow manufacturer's recommendations)
  

And these tasks, which you may have to hire professionals to handle:

• Clean and flush gutters and downspouts
• Service air conditioning and heating units
• Drain and service water heaters
• Clean fireplaces and chimneys
• Repair roofing shingles
• Repair and paint the siding or exterior trim
• Prune trees and hedges
  

Taking Care of Your Budget

If you are like most homeowners, you probably can't wait to start decorating your place. But you may want to put those decorating plans on hold until you review your household budget. Once you have an idea of how much money you have to work with, you can plan your decorating. Your goal is to make your home a reflection of you without taking on additional debt.

When you review your household budget, look for other expenses you can reduce. For example, if you buy your lunch every day of the work week and spend, on average, $7.00 each day, that adds up to almost $2,000 a year! That's money you can spend on your new home or use to build a rainy day fund. Living with a budget doesn't mean you have to stop eating out completely. It means managing how and when you spend your money and deciding what things are most important to you. The choice is yours.

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