The holidays are full of expenses—gifts, travel, hosting, traditions—and it’s easy to lose track of how much you’re spending. But if you’re actively preparing to buy your first home, this is also a season where small decisions can have a big impact on your timeline to ownership. Here’s the guidance we give to homebuyers who want to celebrate now without sacrificing progress toward their down payment.
Always compare multiple mortgage lenders
Have you ever spotted a gift in a store, then pulled up Amazon on your phone just to make sure you weren’t overpaying? Shopping for a mortgage works the same way. Don’t settle for the first quote you get—collect at least three loan estimates so you can see how they really stack up. Some lenders in your area consistently offer rates below the market average, and finding those differences can save you thousands over time. A few extra comparisons now can mean a much better deal when you’re ready to buy.
Separate your down payment savings from holiday spending
One of the easiest ways to stay disciplined is to set up a dedicated account for your down payment that’s completely separate from the money you’ll use for gifts, travel, or hosting. That way, you can celebrate the season guilt-free without touching the funds that move you closer to homeownership. If buying a home is your priority this year, this small separation makes it much easier to protect your “purchasing power” while still sharing holiday joy with the people you love.
Be mindful with credit
Your credit score is one of the biggest factors in qualifying for a good mortgage rate. Using credit cards for rewards is fine—but carrying a balance into the new year can increase your debt-to-income ratio and hurt your score. Treat every swipe as if a lender is watching (because in a few months, they might be).
Watch seasonal expenses at home
Even if you’re renting, utilities, heat, and decorations can spike in winter. Planning ahead for those costs keeps you from dipping into savings you’ve earmarked for your home purchase. Think of it as practice for the kind of budgeting you’ll do as a homeowner.
Prioritize what matters most
Every family has different priorities—maybe it’s a big meal, maybe it’s traveling to see relatives, maybe it’s thoughtful gifts. Pick the things that truly matter to you and let those guide where the money goes. Often, trimming back on extras you don’t care much about makes it possible to splurge a little more on what really counts.
Final note to future homeowners
The holidays are about celebrating with the people you love—but they’re also a great reminder that if you shop savvy you can save. Just like you’d check prices on a gift before you buy, comparing lenders before you commit can make a huge difference in what home you can afford. By keeping your down payment savings separate, spending with intention, and shopping around for the right mortgage, you’ll be setting yourself up to enjoy the season now and your first home sooner.