Introduction:

As the year winds down, it’s the perfect time for homeowners to review their financial standing and ensure their property is ready for the new year. From optimizing your mortgage and taxes to taking care of critical home maintenance tasks, this checklist will help you end the year with confidence and start the next one strong.

1. Review Your Mortgage

   • Check your mortgage balance and payment history.
   • Consider making an extra payment to reduce principal and interest.
   • Evaluate if refinancing or switching to bi-weekly payments makes sense.

2. Assess Home Equity

   • Estimate your current equity by comparing market value vs. remaining mortgage.
   • Explore whether a HELOC or cash-out refinance could help meet future goals.

3. Organize Tax Documents

   • Collect mortgage interest statements (Form 1098).
   • Gather receipts for home improvements or energy-efficient upgrades.
   • Plan deductions for PMI, property taxes, or home office expenses.

4. Update Insurance Coverage

   • Review your homeowner’s insurance policy to ensure adequate coverage.
   • Notify your insurer of any significant upgrades or new valuables.
   • Shop for competitive rates if your policy is up for renewal.

5. Check Your Property Tax Assessment

   • Review your latest property tax bill for accuracy.
   • File a dispute if your assessed value seems too high.
   • Budget for upcoming property tax payments.

6. Prepare for Winter (If Applicable)

   • Inspect and clean gutters and downspouts.
   • Service your HVAC system or furnace.
   • Seal gaps around doors and windows to improve energy efficiency.
   • Test smoke detectors and replace batteries.

7. Schedule a Year-End Maintenance Walkthrough

   • Check the roof, attic, and insulation.
   • Look for leaks under sinks and around windows.
   • Schedule chimney or fireplace inspections if needed.
   • Drain and store outdoor hoses; winterize sprinkler systems.

8. Update or Create a Home Inventory

   • Document major appliances, furnishings, and valuables for insurance purposes.
   • Include purchase dates, models, and serial numbers.
   • Store inventory safely online or in a secure location.

9. Reflect on Home Projects and Set Goals

   • List completed improvements and pending maintenance.
   • Set realistic goals and budget for upcoming renovations or repairs.
   • Prioritize energy-efficient or value-adding upgrades.

10. Refresh Emergency Plans and Supplies

    • Restock your emergency kit (batteries, flashlights, first aid).
    • Review your family’s evacuation or shelter-in-place plan.
    • Check expiration dates on food, water, and supplies.

Conclusion

Performing a year-end review of your home’s finances and physical condition is a smart way to protect your investment and prepare for the year ahead. By tackling these simple but important tasks now, you’ll enjoy peace of mind, potential savings, and a safer, more efficient home. Start the new year on the right foot—organized, informed, and ready to take on your homeownership goals.