The holiday season is busy, but it’s also a great time to get your finances in order if you’re planning to buy a home next year. Whether you’re a first-time buyer or upgrading, these five year-end financial moves can help you start 2026 on the right foot.

1. Check Your Credit Score

Your credit score affects the mortgage rate you’ll qualify for. Take a few minutes to review your report from Equifax or TransUnion. If you spot any errors, correct them before applying for a mortgage—every point counts. People tend to spend a lot of money during the holiday season, but make sure you’re making your payments and keeping your credit in good condition.

2. Maximize Your Savings for a Home

Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs) are great tools to grow your home savings. Contributions to your RRSP before December 31 can give you a tax refund, which you can put toward your down payment. Think of it as a Christmas present to your future!

It’s also smart to set up a dedicated savings account just for your down payment or closing costs. Keeping your savings separate makes it easier to stay on track and avoid dipping into it during the holidays.

If you’re a first-time homebuyer, consider opening a First Home Savings Account (FHSA) before December 31. Canadians who qualify can contribute up to $8,000 per year, and contributions are tax-deductible. By opening an FHSA now, you’ll have an additional $8,000 of contribution room for next year—a simple way to give your down payment a boost. It’s a free Christmas present to yourself!

3. Pay Down High-Interest Debt

High-interest debt, like credit cards or personal loans, can hurt your mortgage application. Paying it down improves your debt-to-income ratio and helps you qualify for better mortgage rates. So if you went over budget on your Christmas list this year, make sure you take care of it before submit your mortgage application.

4. Plan for Upcoming Expenses

Buying a home comes with upfront costs like legal fees, home inspections, and moving expenses. Planning for these now ensures you won’t be caught off guard in the new year. Read this blog post to learn more about what these fees might cost.

TLDR

Taking a few simple steps before December 31 can make a big difference in your ability to buy a home. By checking your credit, boosting your savings (including using an FHSA), managing debt, and planning for costs, you’ll start 2026 ready to achieve your homeownership goals. Contact me today to go over your specific details and to craft a plan just for you!