5 Financial Moves Smart Homeowners Should Make in "The Big 25"
June is National Homeownership Month, and 2025 has all the makings of a milestone moment. With economic shifts, emerging technology, and a renewed focus on financial well-being, now is the time to take control of your home’s full financial potential.
At Champions First Credit Union, we believe your home is more than just a roof over your head. It is one of your most powerful tools for long-term financial security. Whether you just got the keys or you have been settled in for years, here are five smart moves to make the most of homeownership in “The Big 25.”
- Refinance Your Mortgage While Rates Remain Competitive
Mortgage rates have seen their share of ups and downs, but we’re currently offering competitive options for qualified borrowers on conventional 30-year mortgage loans. For the most up-to-date rates, visit our Mortgage Center.
Why it matters:
- Lower Payments: Free up space in your monthly budget.
- Access Equity: Use funds for home improvements, debt consolidation, or savings.
- Long-Term Savings: Even a 1% drop in rate could save you thousands.
Before refinancing, consider how long you will stay in your home and any associated closing costs.
- Build and Protect Your Home’s Equity
Your home equity is more than a number. It is financial flexibility, a safety net, and a sign of growth. In 2025, managing your equity wisely can have long-term rewards.
Simple strategies to stay ahead:
- Make Extra Payments: One extra payment each year can shave years off your loan.
- Borrow Carefully: Avoid tapping equity for non-essential expenses.
- Invest in Maintenance: Minor fixes now help prevent expensive repairs later.
The better you care for your home, the more your equity works for you.
- Plan Ahead for Repairs and Upgrades
Owning a home means preparing for the unexpected. From leaky roofs to aging appliances, it pays to plan.
Smart homeowners in 2025 are:
- Building Maintenance Funds: Save 1% to 2% of your home’s value each year.
- Budgeting for Big Items: Set aside for HVAC systems, roofing, and other essentials.
- Following Seasonal Checklists: Routine upkeep helps avoid expensive surprises.
Think of home maintenance savings as a monthly bill. When the time comes, you will be glad it is there.
- Make Energy Efficiency a Priority
Saving energy saves money, and in 2025, it is easier than ever. Energy-efficient upgrades can lower bills, qualify for rebates or tax credits, and boost your home’s value.
Start with a few key upgrades:
- Smart Thermostats: Manage comfort and reduce costs.
- LED Lighting: Brighten rooms while using less electricity.
- Weatherproofing: Seal windows and doors to cut utility bills.
- Solar Panels: Depending on your area, solar can be a game-changer.
Energy-efficient homes are more affordable to run and more attractive to future buyers.
- Reevaluate Your Insurance Coverage
As your home changes, so should your insurance. Construction costs and climate risks have shifted, and many homeowners are unknowingly underinsured.
Here is how to stay protected:
- Check Your Policy Limits: Make sure your coverage matches today’s rebuilding costs.
- Report Major Renovations: Upgrades like pools or remodeled kitchens should be included in your coverage.
- Add Extra Coverage if Needed: Consider flood, hurricane, or umbrella insurance based on where you live.
Make a habit of reviewing your policy every year. Better safe than sorry.
This Is the Year to Take Charge
Your home is more than a place to live. It is the foundation of your financial future. These five steps can help you save money, grow wealth, and gain peace of mind in 2025 and beyond.
Champions First Credit Union has a relationship with AmeriCU Mortgage to ensure that all of your mortgage needs are covered. We will work closely with you, listen to your concerns, answer questions as they arise, and find great programs at rates that are right for you. We provide bilingual assistance as well. We will be here every step of the way! Whether you are ready to refinance, explore equity options, or simply want expert advice.
Visit our Mortgage Center to learn more. Let’s make this your strongest financial year yet.