As the year wraps up, many people quietly start thinking the same thing: Could next year be the year we finally buy a home?
You don’t need a lender call, a credit pull, or a full financial interrogation to start answering that question. This end of year home buying checkup is a simple self-assessment you can walk through on your own. It’s meant to give you clarity, not pressure.
Think of it as a financial temperature check—useful, honest, and surprisingly calming once you know where you stand.
1. Income Stability: Consistent Beats Perfect
When it comes to buying a home, lenders care far more about stability than perfection.
Ask yourself:
- Have I had fairly steady income over the last 12–24 months?
- Has my line of work stayed consistent, even if my employer changed?
- Am I expecting a major job shift next year?
If your income is predictable, that’s a strong foundation. Raises are great, but consistency is what really moves the needle.
2. Credit Awareness: Know Your Starting Point
Perfect credit isn’t required. Awareness is.
As part of your end of year home buying checkup, consider:
- Do I know my approximate credit score?
- Are there late payments, high balances, or old accounts I could improve?
- Has my credit trended up over the last year?
The end of the year is an ideal time to clean things up. Even small changes now can mean better options—and better pricing—next year.
3. Savings: Beyond the Down Payment
Buying a home involves more than just the down payment. You want flexibility, not financial stress.
Ask yourself:
- Do I have savings outside of everyday checking funds?
- Could I handle inspections, moving, or minor repairs?
- Would I still have an emergency cushion after buying?
You don’t need everything saved today. You just need a plan and a few months of momentum.
4. Monthly Comfort Level: Know Your Number
Forget interest rates for a moment. This is about what feels comfortable to you.
Think through:
- What monthly payment fits my real-life budget?
- Would another rent increase push me toward buying?
- Am I planning based on reality, not a best-case scenario?
When buyers know their comfort zone, decisions become simpler—and much less emotional.
5. Timeline: Clear Beats Fast
“Next year” means different things to different people.
Be honest about:
- Early next year or later on?
- Any upcoming life changes like marriage, kids, or relocation?
- Would I be disappointed if I wasn’t in a home by year-end?
Clarity always beats urgency.
Not Ready Yet? That’s Still a Win
If this end of year home buying checkup shows you’re not quite ready yet, that’s not bad news—it’s useful information.
Most strong buyers prepare before they purchase. A few months of intentional credit work, automated savings, and smarter budgeting can completely change your position.
The goal isn’t to buy a house today.
It’s to give yourself options next year.
And that starts with knowing exactly where you stand.
Written by Anthony VanDyke, Utah Mortgage Broker — NMLS #247102 — President at Houzd Mortgage in Draper, Utah.
A mortgage broker since 2006, Anthony has helped thousands of Utah families build a stronger financial future, one home at a time. He believes a mortgage isn’t just a loan — it’s a long-term financial strategy that can shape a family’s wealth and peace of mind.
👉 See what you qualify for with Anthony’s Purchase Qualifier Tool.