New Year’s resolutions for homeowners

Here are five smart, achievable New Year’s resolutions for homeowners that can pay off in the long run.

1. Build an emergency fund. As a homeowner, you’re no stranger to unexpected expenses. From the air conditioning breaking to the fridge making awful noises, it can feel like something’s always going wrong. If you’re not prepared, that means you’ll end up charging expenses to your credit card and paying high interest fees.

Instead, set a goal to create a financial buffer of at least $1,000. If that sounds overwhelming, forget the dollar figure: Contribute whatever you can to a savings account each month, and don’t touch it except in real emergencies. As your finances improve, you can add to the emergency fund so you can handle the unexpected without resorting to plastic.

2. Perform an energy audit. If you haven’t done an energy audit on your home, you might be losing money through your windows and doors without even realizing it. An energy audit, usually done by your utility company for $250 to $500, uses special tests and cameras to measure things such as airflow and missing insulation. Once you’ve identified problem areas, you can make informed decisions about repairs.

While there is an upfront cost, you could save a lot of money on your energy bills by making changes, such as installing new, energy-efficient windows.

3. Review your insurance policy. When you bought your home, you likely had to show proof of homeowners’ insurance to get a loan. To fulfill the requirements without going broke, you probably chose the cheapest policy possible.

Now that you’re settled in your home, it’s a good idea to review your policy and make adjustments. As the recent bout of hurricanes proved, having good insurance that covers the unexpected is essential to your financial well-being. Make sure your insurance covers the cost of your valuables and provides coverage in case of common disasters.

Once you have a policy that works for you, take an inventory of your home. Do a video walk-through to ensure you have a record of all your possessions and write down the brands and serial numbers of high-cost items such as electronics. Save that information to a cloud-based program so you can get access to it even if your computer is lost, stolen, or damaged.

4. Secure your home. Your home is your castle, no matter what kind of home it is, so it’s important to protect it in the following ways:

● Check fire and smoke alarms: If you can’t remember the last time you changed the batteries in your fire and smoke alarms, it’s probably time to do so. Set a date on the calendar and automate reminders to check and replace fire and smoke alarms as needed.

● Take security measures: While you can’t prevent all forms of crime, some basic safety measures can keep your home secure. Even if you don’t splurge on a full-blown security system, it may be worth installing a ring doorbell so you can see who’s at the front door when you’re not home or installing an inexpensive set of security cameras at the entrances to deter thieves.

5. Create an emergency kit. When a true emergency hits, such as a hurricane or blizzard, you won’t have much time to prepare. That’s why it’s so important to take steps now, when things are relatively quiet, to create an emergency kit for your family.

It should include nonperishable foods, water, a can opener, a crank radio, a flashlight with batteries, and food for your pets, if necessary. It’s also a good idea to keep at least some cash in your emergency kit in case the power is down and gas stations can’t accept credit cards. With a little preparation, you can handle emergencies without scrambling to get supplies.

6. Maintaining your resolutions. As a homeowner, your priorities are different than they were before you bought a house. By setting these five New Year’s resolutions, you can ensure your home is secure and well-protected.