shoudl be pretty save in this case - after all you use the same distro and everything that stores settings in home will be the same version afterwards.(maybe a dist-upgrade before you use all too much stuff) .
If you're unsure you could look through your home folder from the live disc before installing and delete all the hidden folders except the ones for programs whose settings you know you want to have stored.
(don't forget to check subdirs of ~/.gconf and ~/.config in that case)
well or you just delete everything starting with a "."