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Make sure GFCI outlets (ground fault circuit interrupters) are installed near sinks -- both bathroom and kitchen -- in the laundry room and garage, and on exterior outlets. This inexpensive fix -- you'll need an electrician -- helps prevent electrocutions and fires.
Also, tighten screws on wall outlet receptacle covers and replace missing ones. Never use extension cords in place of permanent wiring.
5. Current affairs
Know where the home's main shut-offs are.
The electrical shut-off should be a switch either at the main breaker panel or outside near a service entrance. The water shut-off valve will be on a wall of the house facing the street.
6. Leak police
Inspect all plumbing and fixtures. Make sure the shut-off valves on toilets and sinks turn easily and are not rusted shut. If they are corroded, replace them. If the faucet is leaking, then it needs a washer. Take the faucet, washer or stem along to the hardware store to match it.
If a toilet runs all the time, a flapper valve needs replacing. Have slow drains looked at immediately to prevent costly backups.
7. Warranty wisdom
Sid Davis warns homeowners that warranties can be just as pricey as actually replacing faulty appliances. However, real estate coach Jason Hanson, author of "How to Build a Real Estate Empire" ($25, Foundations of Wealth), says warranties can provide peace of mind. When appliances break down, Hanson says, homeowners can use the warranty instead of searching for reputable repair companies.
8. Insurance assurance
Get "replacement coverage" to cover property damage. Make sure the policy outlines in writing exactly what will be covered in case of a catastrophe. Videotape or photograph all valuables, keep a list of serial numbers and write down the date an item was purchased for possible reimbursement proof.
Also, track all home improvements by saving receipts and records to help avoid capital gains taxes when you sell the home.
9. Before the flood
Get flood insurance even if your home isn't near a flood zone. Forty percent of flood claims are made by homeowners in nonflood areas, according to Davis. A rainstorm, improper drainage and runoff from subdivision construction can funnel water into the home.
10. Do your homework
Compare property taxes with similar homes' taxes in the neighborhood. If all things are equal in multiple listing service documents, protest your rate increase with the assessor's office.
Also, tighten screws on wall outlet receptacle covers and replace missing ones. Never use extension cords in place of permanent wiring.
5. Current affairs
Know where the home's main shut-offs are.
The electrical shut-off should be a switch either at the main breaker panel or outside near a service entrance. The water shut-off valve will be on a wall of the house facing the street.
6. Leak police
Inspect all plumbing and fixtures. Make sure the shut-off valves on toilets and sinks turn easily and are not rusted shut. If they are corroded, replace them. If the faucet is leaking, then it needs a washer. Take the faucet, washer or stem along to the hardware store to match it.
If a toilet runs all the time, a flapper valve needs replacing. Have slow drains looked at immediately to prevent costly backups.
7. Warranty wisdom
Sid Davis warns homeowners that warranties can be just as pricey as actually replacing faulty appliances. However, real estate coach Jason Hanson, author of "How to Build a Real Estate Empire" ($25, Foundations of Wealth), says warranties can provide peace of mind. When appliances break down, Hanson says, homeowners can use the warranty instead of searching for reputable repair companies.
8. Insurance assurance
Get "replacement coverage" to cover property damage. Make sure the policy outlines in writing exactly what will be covered in case of a catastrophe. Videotape or photograph all valuables, keep a list of serial numbers and write down the date an item was purchased for possible reimbursement proof.
Also, track all home improvements by saving receipts and records to help avoid capital gains taxes when you sell the home.
9. Before the flood
Get flood insurance even if your home isn't near a flood zone. Forty percent of flood claims are made by homeowners in nonflood areas, according to Davis. A rainstorm, improper drainage and runoff from subdivision construction can funnel water into the home.
10. Do your homework
Compare property taxes with similar homes' taxes in the neighborhood. If all things are equal in multiple listing service documents, protest your rate increase with the assessor's office.