As the year winds down, it’s the perfect time to make sure your home and finances are set up for a strong year ahead. To make the process easier, we’ve broken this end-of-year homeowner’s checklist into two essential categories: Home maintenance and financial health. Set aside a few minutes, grab a notebook, and let’s wrap up the year on a confident note.
Part 1: The Home Maintenance Homeowners Checklist
A well-maintained home runs more efficiently, lasts longer, and helps you avoid costly repairs down the road. Here’s what to include in the home-maintenance portion of your homeowners checklist:
- Check HVAC systems
- Inspect for drafts and seal gaps
- Test smoke and carbon monoxide detectors
- Service major appliances
- Prepare outdoor spaces
Check HVAC Systems
Your heating system works hardest in the cooler months, so make sure it’s up to the job. Replace your furnace filter, check for unusual noises, and consider scheduling a professional tune-up. If you have central air, this is also a good time to cover or clean the outdoor unit.
Inspect for Drafts and Seal Gaps
Cold air sneaking in through windows, doors, and foundation cracks can drive up energy bills. Walk through your home and inspect for drafts. Add weatherstripping, replace worn caulk, or schedule window repairs if needed. A tighter seal means lower heating costs and a cozier home.
Test Smoke and Carbon Monoxide Detectors
With more time spent indoors—and more cooking, fireplace use, and fire-hazard holiday décor—it’s vital to check all alarms. Replace batteries and test each detector to ensure it’s working properly. If your devices are more than 10 years old, consider replacing them.
Service Major Appliances
Your refrigerator, dishwasher, water heater, and laundry units all benefit from routine care. Vacuum refrigerator coils, flush your water heater to remove sediment, and review the age and condition of each appliance. Proactive upkeep extends their lifespan and improves efficiency.
Prepare Outdoor Spaces
Winterize your outdoor faucets, store hoses, and drain sprinkler systems. Clean and store patio furniture, check deck boards for wear, and trim back overhanging branches that could crack under snow or ice.
Part 2: The Financial Homeowners Checklist
Homeownership isn’t just about maintaining the physical home—it also involves staying on top of financial responsibilities and planning for future goals. Here’s how to review the financial side of your homeowners checklist:
- Review your mortgage
- Evaluate home insurance coverage
- Assess property taxes
- Plan for upcoming projects or repairs
- Track home-related expenses
Review Your Mortgage
Look over your mortgage statement and check your current balance, interest rate, and remaining term. Ask yourself: Has anything changed this year that might make refinancing worthwhile? If rates have shifted or your financial situation has improved, exploring refinancing options may lead to long-term savings.
Resource: When Should I Refinance My Mortgage?
Evaluate Home Insurance Coverage
Life changes—renovations, new valuables, or lifestyle shifts—can affect your insurance needs. Review your policy to ensure you’re adequately covered, and compare quotes if your premium has increased. A quick annual review can help you avoid gaps in protection.
Assess Property Taxes
Many homeowners forget to account for property tax adjustments. Check your latest tax assessment and budget accordingly for the coming year.*
*This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before making the decision to buy or refinance a home.
Plan for Upcoming Projects or Repairs
Thinking about updating your kitchen? Need a new roof soon? Create a rough timeline and savings plan for any projects you anticipate. Setting aside even a small amount each month helps turn big goals into manageable steps.
Pro Tip: A Renovation refinance can help fund your home upgrades. Explore your options here.
Track Home-Related Expenses
Review the past year’s spending on utilities, repairs, lawn care, and general upkeep. Identifying trends can highlight where you might save, such as improving insulation or choosing a more efficient service provider.
End-of-Year Takeaways
Don’t stress if you can’t get everything on this list done before the end of the year. Homeownership is a marathon, not a sprint. That means even small actions—like cleaning your gutters or tracking your utility bills—can make a big impact over time. So, don’t forget to add one last thing to your end-of-year homeowner’s checklist: Celebrating your wins.
As the year winds down, it’s the perfect time to make sure your home and finances are set up for a strong year ahead.
