The most obvious way he might get caught is for someone to find the Death Note. Unfortunately, that's also the hardest to avoid. He could hide it at his home, but no matter how well he conceals it, it might still be found. If the police search his home while he's away, they might find it no matter how well he hides it. For that matter, his father and his sister both have a key; it's not likely they'd look through his private possessions, but not completely impossible.
On the other hand, if he keeps it on his person, then a search of his person will almost certainly find it. But he might have warning, at least, and the warning could be enough for him to hide it.
Really, the thing to do is to try to come up with a way to make it look less incredibly suspicious. A notebook full of the exact names and causes of death of every past criminal he's punished and several future ones is as good as a confession; a notebook that says "Death Note" on the cover, with the rules on the inside, is -- still a risk, if they figure out that's how the criminals have been dying, but a risk that he has a chance of explaining away.
But he can't "make it unusable by tearing it or burning it up," and he's not sure how much he wants to gamble on that being the exact wording that matters. Is he safe if he makes it unusable by submerging it in water? Is he safe if he burns a single page?
Eventually he settles on carefully cutting out a single page and dipping it in ink so it's unreadable. For the sake of the experiment, it has a single name on it, and he waits until they're already dead. His heart is pounding -- this really ought to be safe, but it still feels like a gamble -- but he finds himself just as alive as he was before.
(He feels vaguely disappointed, for some reason, at the result of the experiment. How strange. It's not as if he wants the rules to be written unfairly.)
On his person, then. He'll cut out every page once everyone on it has died and dip it in ink until it's unrecognizable, and keep a bottle of ink with him. He doesn't know what'll happen if he has to destroy a page where not everyone is dead, and there's no ethical way to test it that doesn't carry some risk of getting caught. Hopefully it won't come up.