How to Prep Your Home and Finances for the New Year
- ICE Mortgage Technology
- Oct 27
- 3 min read
Updated: Nov 4
The end of the year is a natural time to reflect — but it’s also a smart time to look ahead. Before the pace picks up, take a moment to check in on your home and finances. This simple checklist can help you close out the year with purpose and start 2026 on solid footing.
1. Review your mortgage
Your mortgage isn’t just a monthly bill. It’s a powerful tool for building long-term wealth. Take a moment to assess how it can support your financial goals.
Talk to your Loan Officer about these strategies:
Making an extra payment. Divide your monthly principal and interest amount by 12 and add that amount toward principal over each of the next 12 months. The extra payment will reduce the total interest you pay.
Exploring refinancing. If rates have dropped since you took out your loan, refinancing could save you money. A new loan could also unlock equity or better terms.
Tapping your home equity. Regular payments and rising home values may have boosted your equity more than you realize. If you have at least 20% equity, you may be able to access cash for renovations, investments, or debt consolidation.
Calculating Your Home Equity
Home equity is the portion of your home you own outright. To calculate it, determine your home’s current value and subtract the amount you owe on your mortgage and other liens.
Tip: Online home value estimates are often unreliable. Your Loan Officer can review the market and offer a more dependable range of value.
2. Plan for maintenance and upgrades
Your home requires regular care to stay efficient and maintain its value, and making strategic upgrades can help you fall in love with your home all over again. End of year is a good time to schedule seasonal maintenance and plan for improvements.
Start with:
Routine maintenance: Clean your gutters, check for leaks, and inspect your roof. Set spring and fall calendar reminders to have your HVAC serviced.
Energy efficiency improvements: Consider adding insulation, upgrading windows, or installing a smart thermostat to lower utility bills. Changes made before the end of the year may reduce this year’s taxes (check with your tax pro first).*
Aesthetic upgrades: Fresh paint, updated fixtures, or landscaping can boost curb appeal and comfort. Plan now for projects you’ve been putting off.
Do home improvements pay off when you sell?
The return on investment (ROI) for home improvements varies greatly. Exterior upgrades typically return more value, with some returning more than double their cost at resale. Nationally, these were the top ROI projects in 2025[1]:
3. Revisit your financial goals
What’s one financial goal you’ve been putting off? Make a plan to achieve it, and for larger goals, consider how your home’s equity might help you get there.
Key areas to review:
Housing expenses: Are your insurance and utility costs manageable? It may pay to shop around for insurance or adjust your energy usage to lower your bills.
Emergency fund: Set aside savings for unexpected home repairs, like a broken water heater or roof damage.
Long-term goals: Whether it’s travel, education, or investments, your home equity and mortgage strategy may be able to help fund your dreams.
As you prep for the new year, take time to align your home, finances, and future plans. Whether you’re making small changes or big moves, planning now can set the stage for a smoother, more successful 2026.
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