What steps should you take before the year is over?

We’re halfway through 2025, and if one of your big goals for the year is to buy a home, now is the perfect time for a quick reality check at what’s holding you back. Whether you’re a first-time buyer or returning to the property market, checking in on your progress now can make all the difference between turning your dream into a set of keys in 2025.

Step 1: Revisit Your Homeownership Goals

Start by reminding yourself of the ‘why’ behind your goal. Is your aim to finally stop renting and pay off your own bond as opposed to someone else’s? Are you looking to invest in your future, or settle your family into a long-term space that you can call home? Reminding yourself and clarifying your ‘why’ gives you motivation and focus, especially when the journey gets tough.

Next, ask yourself:

  • What type of home are you looking for (location, size, style)? Has this changed and if so, what are the financial implications of these changes?
  • What is your ideal purchase price range? Have the properties in the areas that you’ve been looking at increased or decreased in price since you started looking? Are there any areas you think you should be looking in for properties that you haven’t done in the past?
  • When do you want to move in?

Step 2: Review Your Numbers, Identify Any Financial Obstacles

Has there been a material change in your financial situation (be it your income or expenses) since you decided to buy a property? Financing is the cornerstone of homeownership. At this stage of the year, it’s a good idea to take a hard look at the numbers:

Deposit saved

  • How much have you saved toward a deposit?
  • Is your anticipated savings as a deposit going to cover your deposit as well as the fees incurred when you buy a house? Most lenders require 10–20% but may accept less if you have a strong credit score indicative of good management of your finances. But you will also need to have cash available for the transfer fees and legal costs within 3 months of your finance being approved, and before you can take ownership of your new home.
  • Are you on track to hit your deposit target by year-end? What are the financial implications if you don’t save as much as you’d intended?

Credit score health

  • Have you checked your credit score recently? This is not the time for (unpleasant) surprises.
  • If your score can improve, this should be your key focus for the year. Taking steps to improve it (e.g., settling debts, paying bills on time) should be your priority.
  • A higher score could save you thousands in interest over time, as this factors into a more favourable home loan interest rate offered by banks.
  • Are you paying off your most expensive debt first (and as a matter of priority)? Personal loans and credit card debt are typically linked to higher interest rates (because they’re riskier for the bank), and if you need to consolidate your debt to pay it off quicker, this will help your credit score in the long run.

Monthly budget

  • Can you comfortably afford home loan repayments, rates, insurance and maintenance with interest rates at their current levels? Be sure to run this calculation with an interest rate at 1% more than the current figure, just to see what this scenario looks like for your personal finances.
  • Do you need to relook and reduce your unnecessary spending if your budget looks like it’s spiralled out of control? It is always a good idea to keep spending in check before you sign up for expensive long-term credit, and a good habit is to relook your budget numbers regularly and see if there are any cuts you can make.
  • Have you accounted for transfer costs, legal fees and moving expenses, those big and largely unavoidable costs you will incur in the 3-4 months after signing your home loan offer?

Step 3: Take Action

Get pre-approved (again if the last time was more than six months ago)

  • Speak to a Get Go Home Loans Specialist about calculating your affordability and doing a pre-approval. It is an essential step on your homeownership journey. A pre-approval from GetGo Home Loans takes your current financial situation into account to calculate how much additional debt you can realistically take on to finance a new home.
  • This will guide your house-hunting journey to ensure you look at homes you can truly afford, and it presents you as a more serious buyer in the eyes of sellers.
  • If you did a pre-approval a few months ago, it’s worth updating this if your financial situation has changed materially.

Start (or continue) your property search

Even if you’re not quite ready to buy yet, house hunting can help you:

  • Understand the market (trends, pricing, competition).
  • Refine your must-haves vs. nice-to-haves.
  • Meet with estate agents and build relationships with the right ones (we know a few) who know your needs and the areas that you’re looking at well. Good relationships mean that they’re more likely to tip you off about new listings before they hit the market.

Step 4: Adjust and Recommit

If you’re behind schedule, that’s okay. Use this check-in as a reset, not a reason to give up. You still have time to:

  • Increase your savings rate.
  • Settle more debt.
  • Explore first-time buyer incentives or grants in your area.

If you’re on track, celebrate your progress and keep the momentum going! Buying a home is a marathon, not a sprint. The halfway mark of the year is the perfect time to check your pace, correct course if needed, and refocus your energy. Whether you’re sprinting toward December 2025 or adjusting your goal to early 2026, staying engaged and informed is key.