January is the perfect time for first responders to take stock of their finances and make plans for the year ahead. With unique job benefits, fluctuating schedules, and the demands of law enforcement work, understanding your homeownership costs and tax responsibilities is essential.

The Real Cost of Homeownership (Beyond the Mortgage)

Most people focus on the monthly mortgage payment, but that’s only part of the picture. A smart financial reset starts by understanding all the moving pieces:

• Mortgage principal and interest – the loan itself
• Property taxes – often escrowed but still worth reviewing annually
• Homeowners insurance – premiums can change year to year
• Maintenance and repairs – HVAC, roof, plumbing, appliances
• HOA fees (if applicable)

For officers working overtime or secondary jobs, these costs can creep up quietly if they’re not reviewed regularly.

Why Property Taxes Deserve a Closer Look

Property taxes are one of the most misunderstood parts of homeownership — especially in Texas. Many homeowners assume the amount they pay is fixed or out of their control. That’s not always true.

January is a great time to:

• Review last year’s tax statement
• Confirm your homestead exemption is properly filed
• Make sure exemptions haven’t fallen off due to refinancing or moves
• Prepare early for appraisal notices later in the year

We’ll talk more in a future issue about how to protest property taxes, but preparation always starts early.

Insurance: Not Just a Set-It-and-Forget-It Item

Insurance is another area where costs can quietly increase. Annual premium reviews matter, especially as replacement costs rise.

Consider:

• Are you properly insured, or just minimally insured?
• Does your coverage reflect current rebuilding costs?
• Are there discounts available for security systems or bundled policies?

This is especially important for first responders who may be targeted or require additional security measures.

Maintenance Planning for Busy Schedules

Deferred maintenance is one of the most expensive mistakes homeowners make — not because they don’t care, but because life gets busy.

A simple annual plan can help:

• Schedule HVAC servicing early in the year
• Budget monthly for inevitable repairs
• Address small issues before they turn into emergencies

Preventative planning protects both your home and your finances.

Action Steps for January

1. Review last year’s mortgage statement and property taxes.
2. Check eligibility for exemptions or first responder programs.
3. Update your budget to include all homeownership costs and reserves.
4. Schedule a consultation with a financial advisor if needed.

Start the Year With Intention

Homeownership should be a blessing, not a burden. Taking time in January to understand your full financial picture allows you to make informed decisions throughout the year — whether that means saving money, making upgrades, or preparing for a future move.

If you ever have questions about how taxes, insurance, or market conditions affect your home’s value, I’m always happy to be a resource. Education is part of service — and that doesn’t stop when the uniform comes off.

Here’s to a smart, steady start to the year.