I am not sure what 'Home Backup' does in cPanel, I assume it backs-up your files to some other place on the server?
If so, you don't need to do anything to duplicate this behaviour, as DreamHost automatically creates 'snapshots' of your home directory at regular intervals. These backups are available in the hidden .snapshot directory.
Of-course, it is still a good idea to make your own local backups occasionally, just in case.
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