Year-End Financial Moves for Homeowners
As 2026 comes to a close, it’s a great time to give your home—and your finances—a quick year-end checkup. A few smart moves now can help you save money, protect your investment, and start 2027 with a solid plan.
Review Your Mortgage Interest
Mortgage interest may be tax-deductible for homeowners who itemize their deductions and meet IRS requirements. Take a look at your year-end mortgage statement and keep your Form 1098 with your tax records.
Tax rules can vary depending on when you purchased your home, the amount of your mortgage, and your individual situation, so consult your tax professional about deductions that may apply to you.
Make an Extra Mortgage Payment
If your budget allows, consider making an extra payment toward your mortgage principal. Even one additional principal payment can help reduce the amount of interest you pay over the life of your loan and may help you pay off your mortgage sooner.
Check with your mortgage company to make sure the extra payment is applied directly to principal rather than toward a future monthly payment.
Consider Energy-Efficient Improvements
Energy-efficient upgrades can still be a smart investment even though the federal Energy Efficient Home Improvement Credit and Residential Clean Energy Credit ended for improvements made after December 31, 2025.
Projects such as additional insulation, energy-efficient windows and doors, updated heating and cooling systems, and other efficiency improvements may help lower utility bills, improve comfort and potentially add value to your home.
Also check for current state, local and utility-company rebates or incentives before starting a project.
Review Your Homeowners Insurance
Has your home increased in value? Did you remodel the kitchen, finish the basement, add a deck or make other significant improvements this year?
Review your homeowners insurance to make sure your coverage reflects those changes. With construction and material costs changing, it's especially important to make sure you have adequate coverage to rebuild your home if the unexpected happens.
While you're at it, compare deductibles, discounts and rates to make sure you're getting the coverage you need at a competitive price.
Plan Ahead for 2027 Home Projects
Thinking about a new kitchen, bathroom remodel, fresh landscaping or other improvements?
Now is a great time to prioritize your 2027 projects and establish a budget. Focus on improvements that enhance your enjoyment of your home while also considering projects that could improve its marketability and resale value.
Planning early also gives you more time to obtain estimates, compare contractors and watch for seasonal sales.
Review Your Estate Plan
Your home is likely one of your largest financial assets, so make sure it is properly addressed in your estate plan.
If you've experienced a major life change, review your will, trust and beneficiaries with the appropriate professional to make sure they still reflect your wishes.
Start 2027 on the Right Foot
A little year-end planning can go a long way toward protecting your home and your financial future. Whether you're planning improvements, reviewing expenses or simply thinking about what your home may be worth, now is a great time to get organized.
And if selling your home may be part of your 2027 plans, it’s never too soon to contact me. Together, we can put a plan in place to maximize your home’s value, prepare it for the market and make the selling process as smooth and stress-free as possible.