Fireproofing Your Home and Protecting Your Investment
Last week, we witnessed a house fire at the home next door to a property of ours that’s currently under renovation (you can find our post about it here and see our new properties here). For us, it hit close to home in more ways than one. House fires, even though their numbers are declining, are nonetheless an ever-present danger to any homeowner – not just in terms of their safety and that of their families, but fires can destroy years and tens of thousands of dollars’ worth of work and investment. Even though insurance is a must-have against the risk of fire, carriers are a huge hassle to deal with should you ever have to file a claim, and therefore the best defense against house fires is preparedness.
Whether you’re a homeowner or an investor, your property represents at bare minimum a significant investment. We’re not going to cover insurance in this article, because if you’ve got a mortgage chances are the lender required you to get standard home insurance, in which coverage against fire is included. If your situation is somehow unique as an investor, make sure you have insurance that covers fire damage. With the average fire damage claim amounting to over $37,000.00, unless you have money to burn (no pun intended) you don’t want to take any chances.
So how can the conscientious homeowner or investor protect their home against fire? There are a few ways this can be done, and they all involve preparedness and vigilance.
Fire Extinguishers
We said a moment ago that the best defense against fires is preparedness, and fire extinguishers are the first line of defense in the event of a fire. Most of the time, they can be found in kitchens since that’s where most fires start. To really protect the entire home, though, there should be an extinguisher in every room of the house, taking special care to place their locations in each room close to potential fire hazards such as fireplaces, easily-jostled lamps, and outlets connected to high-power appliances. Basements, attics, and garages are often overlooked, but a fire can just as easily start in a little-used area of the house. Garages, in particular, are a significant risk due to the presence of often-flammable material stored in them and the presence of gas and oil. Fires that start here can grow rapidly, and a large extinguisher is best. It’s also important to remember that fire extinguishers do not last forever; make a note of the expiration dates of the extinguishers you have in your house and make sure that they’re replaced or refilled in time.
Smoke Alarms
All modern homes have smoke alarms, but that alone doesn’t excuse negligence on the part of the homeowner. If you’re rehabbing a property as an investor, make sure you place them in multiple areas of the house, and if you live in an older house that doesn’t have a smoke alarm system, have one installed. Not only is it a safety measure of extreme importance, but the cost of installing it will often be offset by the reduction in insurance premiums that most carriers give as well. Smoke alarms can reduce the damage a fire can cause by alerting the home’s occupants early, giving them time to react, reach a fire extinguisher, or escape to safety. That said, it’s not enough to simply install the alarms; in order to serve their purpose, they need to be functional, which means they need to be periodically tested, checked, and have their batteries changed. You’ll want to check your alarm system every four months and replace any batteries that may be weak, and immediately replace batteries any time you hear the alarm giving off a “low-battery” notification. Assuming that the alarm works when it doesn’t greatly increases the danger from house fires.
Fire Resistant Carpeting
Carpets and rugs are commonly overlooked as potential fire hazards even though their presence in homes is nearly as ubiquitous as the frequency with which they’re ignored as risks. Whether it’s wall-to-wall carpeting or the occasional throw rug, wool and synthetic carpets burn extremely easily and can spread fires with alarming speed due to their size and flammability. If you want carpeting, consider fireproof carpet, which is indistinguishable from other materials and equally as common. If you have small rugs in your home, it’s definitely best to treat them with a fireproof chemical.
Wiring
Aside from the kitchen, electrical issues and short circuits are the most common cause of house fires. Consider GFCI (ground fault circuit interruption) protection for your outlets, and if you’re rehabbing an older home have the wiring thoroughly checked and redone if necessary. You literally can’t be too careful in this regard. As you’re working on electricity in a renovated property, always hire a professional, which leads us to our next point: since few of us are licensed electricians, we may not consider every electrical hazard posed by either faulty wiring or too many appliances on the same circuit. Have your home evaluated by a professional, and there are a few guidelines you can follow to reduce the risk of short circuits and electrical fires. For starters, take care to avoid overloading your electrical wiring, and when installing a heavy-duty appliance that draws a substantial amount of electricity have a licensed electrician check the wiring and outlet to make sure there is no chance of an overload. Old and frayed wiring running from electrical appliances to the wall outlet are another fire hazard, so check these wires for signs of wear every six months and replace any that may pose a risk. You’ll also want to check all plugs from devices and appliances to ensure they fit tightly in the outlets, since a loose fit will permit sparking and heat buildup. Rats, mice, and other rodents love to chew on electrical insulation, so pest control is not only a matter of sanitation but also one of safety. You’ll need to periodically check all wiring for animal damage and replace any that appear to be bad. In the case of outdoor wring, make sure that any replacement wire is rated for outdoor use.
Junk and Clutter
Don’t be a hoarder! Seemingly harmless clutter around the house often increases the chances of a fire spreading and could give it plenty of fuel to escalate out of control. Old clothes, newspapers, boxes, toys, etc. are all flammable and common examples of clutter that can be found around the average home. It’s a good idea to make a habit of cleaning out junk from your home every few months. This will not only make your home safer, but it also carries the added bonus of reducing habitable areas for rodents and insects to infest.
Fireproofing Furniture
Most people aren’t aware that it’s possible to fireproof furniture. While old newspapers and clutter are potential fuel sources for a fire that can be removed, furniture is something that you’ll probably want to keep in your home. When buying new furniture, you can ask the store to coat it with a fireproof chemical. While doing so may add a small amount to the overall cost of the item, the safety benefit makes the expense more than worth the expense. For existing furniture you can buy fireproofing sprays that you can apply yourself, and it has the added advantage of making your furniture resistant to stains. If you’re a landlord and renting your property, this is an indispensable step to take, because it will maximize the return on your investment when furnishing the property.
Maintain Your Furnace
Just because your furnace may be out of sight doesn’t mean that it should be out of mind. Furnaces produce heat and they use fire to do their jobs, which makes them a potential fire hazard. It’s impossible to overstate the importance of replacing the filter regularly, since a clogged filter can lead to overheating that can damage the furnace and lead to a major fire. Also ensure that no flammable material is stored near the furnace so the event of a fire, it will have little in the way of fuel to grow. If your furnace needs repairs, do not try to do it yourself. Tampering with the setup and settings of a furnace can cause damage that can lead to a fire later on, so always call in a qualified technician.
Lint Traps
Finally, worthy of a special mention here is the lint trap in your clothes dryer. This is especially important to homeowners and landlords. A clogged lint trap can cause it to overheat and catch fire, so make sure the trap is cleaned after each use, and instruct tenants to pay special attention to this.
All in all, fireproofing is mostly a matter of common sense. It includes stowing matches, grill lighters, and other flammable materials out of the reach of small children, or turning off electrical appliances when not in use. Turning off your electricity and gas mains when you know you’ll be away from the home for an extended period of time also reduces the risk of fire. These are precautions that we’re all aware of but tend to take for granted since they seem so simple. Fireproofing your home unfortunately doesn’t mean that the property will be immune to the dangers of fire, but as any investor knows, reducing any amount of risk is always worth the effort.
We’ll be back next week with more advice on investing in real estate, but we felt it was important to talk about fire given the events we witnessed last week next door to our own property. Everyone stay safe and if you noticed anything in this week’s blog that you need to do to your property or home, don’t wait to get it done! Follow us on Facebook and Twitter for more tips and tools of the trade, and don’t forget to check out our new properties that will be listed soon!
– Get It Right Solutions