It may be hard to believe, but the new year is just around the corner. It’s very common to hear discussions around New Year’s Resolutions – many of which are either money or health-related – but the start of a new year is also a great time to align your priorities when it comes to homeownership. Whether you already own a home or you’re preparing to buy, the resolutions listed below are sure to get your new year started on the right foot!

Grow Your Emergency Fund

Setting up an emergency fund is essential for everyone, as you never know when an unexpected expense may pop up. Whether it’s a broken-down car, medical bills, or unplanned home repairs, having a safety net to cover these expenses goes a long way toward keeping you on track. If you’re already a homeowner, you should be setting aside 1-3% of your home’s value in savings to keep up with routine maintenance and repairs that pop up. If you’re considering buying a home in 2022, get a jump start on your emergency fund so you’ll have some cash set aside for your future home!

Work On Your Credit

Everyone should work on improving their credit, as a good credit score is essential for getting the best rates on a mortgage or an auto loan. If you have little to no credit, start with small steps to make improvements such as getting a credit card (that you pay in full each month!) or an installment loan to build your credit. If your credit needs improvement, make sure you’re paying down your debt, not missing bill due dates, and avoid applying for too many credit cards.

Give Your Home Some TLC

If you’re a homeowner, chances are, you’ve realized that there’s always something that needs to be done to keep your home in good working order. The earlier you fix any issues, the better the outcome. If you’ve been ignoring any much-needed repairs, set a goal in the new year to finally tackle those projects to ensure your home retains its value and condition. If you’re preparing to buy a home, decide if you’re open to a fixer-upper or if you prefer a turnkey home. If extensive home projects aren’t your thing, it may be best to skip the homes that need a lot of love to become livable!

Reduce Energy Consumption

Not only is reducing energy consumption good for the environment, but it’s also a great way to save more money in the new year. Resolve to unplug devices when not in use, turn off light switches when leaving a room and perhaps invest in a programmable thermostat that will help decrease your heat and air conditioning use when you’re away from home.

Get Involved In Your Community

Getting to know your neighborhood is so important, whether you rent or own your home. It’s nice to meet those who live around you, to look out for one another’s homes and property. Plus, making friends who live nearby is a great bonus. Getting involved with your HOA or participating in community activities are both wonderful ways to meet your neighbors and ensure you have a say in the future of your neighborhood! If you’re planning to buy in 2022, start researching neighborhoods and perhaps ask for feedback from others who live in the area to ensure the area will be a good fit for you.

While these resolutions may not be groundbreaking, they are certainly beneficial when it comes to a great start to the new year! Whether you’re looking to buy a new home or possibly refinance your current one, our team of local industry experts at C&F Mortgage is here for you. Get a head start on your 2022 homeownership goals by contacting our team today!

The information contained herein (including but not limited to any description of C&F Mortgage Corporation and its lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice. Restrictions apply. This is an advertisement and not a commitment to lend. C&F Mortgage Corporation NMLS# 147312 Equal Housing Lender.