Take advantage of tax benefits.

The interest on your home equity loan or line of credit may be 100% tax deductible. This means you could save a substantial amount of money at the end of the year.

In most cases, the interest on a home equity loan or line of credit may be fully tax deductible if:

• The total amount of combined home equity debt on your main home and second home does not exceed $100,000.
• The loan-to-value ratio does not exceed 100%.
• You itemize your deductions on your tax return.
• You use the money for home improvements, debt consolidation, education or other accepted expenses.
  

Be sure to talk to your tax advisor for complete details.

Conserve utilities (and money).

You may be able to cut your energy bills by 10% to 50% [source?], just by limiting the amount of energy that is wasted around the house. Here are a few ways to start.

• Keep curtains closed. This prevents heat from leaving the house during the winter, or coming into the house during the summer. Check and seal drafty windows and door frames.
• Don't overheat. Every degree can increase costs by 3%. Close off unheated areas and shut the vents.
• Clean or replace heating and air-conditioner filters regularly.
• When purchasing a new appliance, pay attention to energy efficiency labels. A more efficient choice will save money over the long run.
• Make sure the door seal on the refrigerator doesn't leak. Test it by closing the door over a dollar bill. If the bill can be easily pulled out, the seal may need to be replaced.
• Keep the fridge well stocked -- a full refrigerator uses less energy.
• Run the dishwasher only when it's full.
• Set the hot water heater to no more than 150 degrees (F).
• Make sure hot water pipes are well insulated.
• Wash clothes in cold water whenever possible, and don't overload the clothes dryer.
• Make sure faucets don't leak -- in and out of the house. A leak can often be corrected by simply replacing washers.
  

Keep Your Home Secure.

Securing your home will not only give you peace of mind but it may increase the value of your home. Here are a few tips to reduce your risk of burglary.

• Secure entry doors with heavy-duty deadbolts, and make sure strike plates are installed with three-inch screws (instead of the 1/2-inch long screws provided). Place security alarm stickers on all doors and windows.
• Install a wide-angle peephole viewer in exterior doors, so you can identify visitors before opening the door. Don't open the door unless you can see who's there.
• Attach locks on window frames to prevent windows from being opened from the outside. Use a bar to stop sliding patio doors from opening.
• Use timers to turn on lights, radios and the TV in the evenings, to give the appearance that someone is home. Many timers even vary the on and off times to appear more natural.
• Make sure doors and windows are well lit. Consider installing motion-sensing lights that turn on when a person comes near.
• Do not allow landscaping to create a burglar-friendly environment. Trim shrubs so entry doors and windows can be seen from the street. Keep bushes and trees trimmed away from windows and entry points to avoid creating hiding places for burglars.
• Make sure your address is clearly visible from the street during the day and night, in case you should ever need to call the police or fire department.
  

Maintain Your Home For Maximum Value.

Starting at the top, the following maintenance steps should be undertaken in the spring and fall, to keep your home in peak condition.

Spring and Fall

Roof: Check the roof and areas around vents, skylights and chimneys for leaks.

Gutters: Clean leaves and dirt out of gutters and drain pipes, and be sure they drain away from the foundation of the house.

Air Filters: Remember to clean or replace filters every few months at most. Check and clean the dryer vent, air conditioner, stove hood and room fans. Keep heating and cooling vents clean and free from furniture and draperies. If you have coils on the back of your refrigerator, vacuum them at least twice each year.

Safety Equipment: Change batteries in smoke and carbon monoxide detectors at least twice a year (changing them when we set the clocks forward and back for daylight savings time is a good habit). Make sure fire extinguishers are working properly.
Siding and Paint: Look for cracks and holes in house siding or paint. Replace caulk if necessary.

Basement: Check basement walls and floor for dampness. Be sure to clean dehumidifier regularly, if you have one.

Additional Steps for Spring

Attic: Open vents to ensure proper ventilation.

Fireplace: Clean ashes from the fireplace. If your home is not air conditioned, leave the damper open for better ventilation throughout the house.

Storm Windows and Screens: Clean and store any removable storm windows, and patch any door and window screens before putting them up.

Additional Steps for Fall

Attic: Close vents to conserve heat throughout the winter.

Fireplace: Check chimney for loose or missing mortar. Have chimney professionally cleaned. Make sure damper closes tightly.

Storm Windows and Screens: Replace screens with storm windows.

Heating System: Have heating system inspected and serviced. Change filters as often as once a month throughout the winter.

Water Heater: Drain water heater and remove sediment from the bottom of the tank.
Outdoors: Make sure hoses are put away before the first freeze. Drain and turn off any outside faucets that may freeze.