A year-end checklist for Houston homeowners
Buying a home is a big milestone, and once the boxes are unpacked and you're settling into your new space, it's easy to forget about some of the less exciting details of homeownership.
If you purchased a home in Houston this year, there are a few things worth reviewing before we head into 2027. Some could save you money, while others will help you avoid surprises down the road.
Here are seven things we'd encourage every new homeowner to check.
1. Make Sure You've Applied for Your Homestead Exemption
This is one of the most important things we remind our buyers about.
If you purchased a home as your primary residence, you may qualify for a Texas residence homestead exemption, which reduces the taxable value of your home for school district taxes and potentially other property taxes.
Texas now allows qualifying homeowners to apply for a homestead exemption during the year they purchase, rather than always having to wait until the following January.
For Houston-area homeowners, applications are submitted through your county appraisal district.
Harris County: Harris Central Appraisal District
Fort Bend County: Fort Bend Central Appraisal District
Montgomery County: Montgomery Central Appraisal District
Even if you've already applied, it's worth confirming your exemption status.
2. Review Your Property Tax Bill
In Texas, property tax bills generally arrive in October or November, and payments are typically due by January 31 of the following year.
If you have a mortgage, your lender may collect money for property taxes through your monthly escrow payment. That doesn't mean you should assume everything is handled correctly.
Take a few minutes to verify:
Your property's tax account and exemption status
Whether your lender is paying taxes through escrow
That your tax bill has been received and will be paid on time
One thing new buyers don't always realize is that their property taxes may change after purchasing, particularly if the previous owner had exemptions or tax limitations that don't carry over.
3. Check Your Mortgage Escrow Account
This is another area where we see homeowners get caught off guard.
Your monthly mortgage payment may include money set aside for property taxes and homeowners insurance. If those costs increase or the lender's initial estimates were too low, you could face an escrow shortage and a higher monthly payment.
Review your mortgage statement and any escrow analysis from your lender. If something doesn't look right, it's better to ask questions now than be surprised later.
4. Keep Your Closing Documents Somewhere Safe
You'll want easy access to your closing documents when tax season rolls around.
Your Closing Disclosure or settlement statement includes information about property taxes, mortgage interest, and certain closing costs that your tax professional may need.
We recommend keeping a digital folder with your closing documents, mortgage information, insurance policy, survey, warranties, and important home records.
It will also make life much easier when you eventually sell.
5. Save Receipts for Home Improvements
Did you renovate the kitchen, replace the roof, install new windows, or make other improvements after moving in?
Keep those receipts.
Certain capital improvements can increase your home's tax basis, potentially reducing taxable gains when you sell in the future.
Not every repair qualifies, but keeping good records now means you won't have to recreate years of expenses later.
6. Review Your Homeowners Insurance
Your home and your insurance needs may have changed since closing.
If you've made improvements, purchased expensive furnishings, or added features to the property, make sure your coverage still makes sense.
For Houston homeowners, it's also worth reviewing flood insurance. Standard homeowners policies generally do not cover flood damage, and flood risk isn't limited to homes located in designated high-risk flood zones.
7. Take Care of a Few Seasonal Maintenance Items
Houston winters are usually mild, but we've certainly learned that freezing temperatures can cause significant damage.
Before the colder weather arrives, consider scheduling HVAC maintenance, checking weatherstripping, protecting exposed pipes, cleaning gutters, and locating your home's main water shutoff valve.
A little preventative maintenance can go a long way.
A Little Preparation Now Can Make Next Year Easier
Owning a home comes with responsibilities that don't always make the exciting part of the buying process. The good news is that most of these items take very little time to review.
If you purchased a home this year, we hope you're enjoying it and making it your own.
And remember, our relationship doesn't end at closing. If you have questions about your homestead exemption, property taxes, or anything else related to your Houston home, we're always happy to help.
Lisa Iglesias & Shannon Poindexter | Property Collective Group at Compass
Strategy wrapped in service.
