Good for you. We got one too.
Now go check the window you plan to use and make sure that:
-it can open wide enough to fully hook the ladder on the sill
-you can remove the screen.
-it’s not too high off the floor that you couldn’t climb over out of it.
-the ground right below it is a suitable landing place.
Then store it in that room. Don’t try to hang & extend it unless you are very patient and plan to spend about an hour refolding it just like it was in the box, for a quick deployment. Trust me on this.
Disregard the following if you don’t have kids.
BTW, have you had a fire drill at home yet? Do your kids know where to meet up and wait for you if they get out a different way from you? Do they know their first and second exits from their playroom and bedroom? Do they know about staying below the smoke layer? Do they now what your smoke detectors sound like, and what to do if they hear it?
Finally, might you consider smoke protection evacuation hoods?
perpetually pathologically over-prepared.