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7. Think twice about renovations
Most homeowners think that any renovation is an increase in the value of their homes – but that’s not necessarily true. For example, a new roof could cut up to 20% off your home insurance premium. Improving your home’s wiring or plumbing could save you an additional 10-15%. However, adding a new room could raise costs significantly, since your home would cost more to rebuild if it was destroyed or damaged.