This paper investigates the short- and long-term effects of both the home learning environment (HLE) and the teacher factors of the dynamic model of educational effectiveness upon student mathematics achievement. Written tests were administered to Grade 1 students (N = 1,444) of 48 primary schools at the beginning of Year 1 and at the end of Year 1, Year 2, and Year 3. A parent questionnaire measured student background factors and the HLE, whereas external observations measured the teacher factors. One aspect of the HLE (i.e., home learning materials) was associated with student achievement, not only at the end of Year 1 but also at the end of Year 3. Almost all teacher factors were associated with student achievement at the end of Year 1 and at the end of Year 3. The long-term effect of teachers was stronger than their short-term effect. Implications for research, policy, and practice are drawn.