|
Home Safety
To design a home safety program should be a very important
step soon after you move in your new home. Each family member
needs to learn and practice the program. Disasters may seem
like unreal events that happen to other people. Unfortunately,
fires and accidents happen all the time. Be prepared.
Here is a list of safety suggestions for you and your family
to follow.
Emergency numbers. By each telephone, post the numbers
of the nearest police and fire stations and the hospital you
plan to use. Call the police non-emergency number to find
out if 911 is a number that you can call for all emergencies.
Fire safety inspections. Many local fire departments
will send a home inspector to show you fire hazards in your
home. If your town does not offer this service, call your
homeowners insurance agent who may be qualified to review
fire safety.
Smoke detectors. The main cause of death in house fires
is from breathing smoke. Put smoke detectors outside each
bedroom and in or near both the kitchen and living room of
your house. If the detectors are battery-operated, put in
new batteries twice a year. A good rule of thumb is to change
the batteries when you turn the clocks for- ward and back
for daylight savings. If your smoke detectors do not run on
batteries, you still need to check them regularly. Loud, flashing
smoke detectors can help you get out if your house catches
on fire.
Fire extinguishers. Your kitchen and garage should
each have a fire extinguisher. Also place a fire extinguisher
on every floor of your house. Learn how to use them before
an emergency. Fire extinguishers may help put out small fires.
Do not try to fight a large fire with a fire extinguisher.
Instead, leave your house immediately.
back to top
Safety ladders. Fire can block your exit from a house.
Chain-link ladders that you can store under a bed or in a
closet can give you a way to escape from a second-story window.
First-aid kit. Keep a first-aid kit, with bandages
and medications, in an easy-to-reach place for adults that
is well out of the reach of young children. Check the contents
once or twice a year to make sure that the medicines are not
out of date and that the kit is complete.
Security. You can do lots of things to keep your house
from being robbed. All family members need to cooperate.
• The first day you move in (if not before), change all
of the locks and get new keys
• Lock your doors and windows when you are not at home
• Trim shrubs that hide windows and doors
• Put in lights for lighting the outside of your house
and your yard
• Put up a -beware of dog sign, even if you don't have
a dog
• If you are going away for a few days or more, ask neighbors
you know to pick up your mail and newspapers and watch your
house.
back to top
Energy Saving
Your new, more spacious home can mean higher heating, cooling,
water, and electricity costs than you may be used to. Local
utility companies will usually send a representative to tour
a home and offer energy-saving tips. When you call to transfer
the utility bill to your name, ask if your company offers
this service. If so, set up an appointment for a date soon
after you move in.
There are several things you can do to control your utility
bills. Some of these suggestions will improve the way your
house uses energy, and some of them are ways you and your
family can be more energy efficient.
Energy Saving Tips For Your Family
• Turn out lights when you leave a room.
• Do not let water run when you wash the dishes, brush
your teeth, or do other chores.
• Plan meals so that you can bake more than one thing
at a time.
• Do not use major appliances or bake during the heat
of the day when you are trying to keep the house cool.
• Do not leave doors and windows open when the heat or
air conditioning is running.
• Close the refrigerator door completely.
• Get in the habit of wearing a sweater in the house
in the winter rather than turning up the heat.
• Do not keep the thermostat too high in winter or too
low in summer.
Energy Saving Tips For Your House
• Add attic insulation.
• Have your heat pump or furnace serviced once a year.
Clean or replace filters every three months.
• Install caulking or weather stripping around your windows
and doors.
• Install storm windows and storm doors with screens
for spring and summer use.
• Put a special insulated "blanket" around
your water heater and set it at the lowest setting.
• Install attic fans or vents to keep hot or cold air
from being trapped in your attic.
• If you need to buy new appliances, get the most energy
efficient ones you can afford.
• Install ceiling fans.
back to top
Tax Benefits
Before you became a homeowner, your tax
and insurance needs were probably pretty simple. An income tax
form and some basic renters insurance were probably all that
you needed. Things are a little more complex for homeowners,
but there are some benefits too.
Federal Income Tax
When income tax time comes, you will enjoy a reward for sticking
to your home-ownership goals. You can subtract the interest
you pay on your mortgage loan from your total income. This reduces
the federal (and in most cases state) income taxes you owe.
Over the years that you own your home, the home mortgage deduction
can save you significant amount of money.
What You Can Take Off Your Taxes
• Points. In your first year as a homeowner, any points
(advance interest) you paid to the lender as part of getting
your mortgage loan also count as deductions from your income.
• Second mortgage. If you are paying a first and second
mortgage loan on your house, you can also deduct the interest
on your second mortgage from our taxable income.
• Property Taxes. You can deduct property taxes you pay
to state and local governments from your federal income tax.
State may also allow property tax deductions. Low-to moderate-income
homeowners may qualify for reduced property taxes in some states.
• Moving expenses. If you moved because of your job, you
may be able to deduct some of those expenses. You will need
receipts for all of your moving costs. To figure out what is
and is not deductible, you can call the Internal Revenue Service
to ask for the publication about moving expenses.
back to top
Refinance
Interest Rate Refinance
If interest rates today are lower than the rate you are currently
paying, you may want to think about refinancing your mortgage
loan even if you don't want cash back. Refinancing would reduce
the mortgage interest rate and lower your monthly payment.
"Cash-Out" Refinance
When your refinance your home, you get a new loan to pay off
the loan you already have. A homeowner who has a great amount
of equity in his or her home may be able to qualify for a
larger loan amount, pay off the present loan, and keep the
extra money to spend on home improvements, college tuition,
or to meet other needs.
When you borrow more money at the same rate of interest, your
monthly payments will be higher. If your income has increased
since you bought your home, the larger payment may not be
a problem. If you have been having trouble paying bills or
are concerned about your job, this is not the time to refinance.
Even if you get your new loan from the same lender, you will
go through closing again. You will pay closing costs as you
did when you purchased your home. Also, your property must
appraise for more than the new amount you are borrowing, and
how much more depends on the lender.
back to top
|
