This is the 466th most frequent Swedish word.
redo
Ready.
In this sentence, 'redo' is used to mean being prepared or ready.
Jag är redo att börja jobbet.
I am ready to start the job.
Here, 'redo' signifies that the house is in a prepared state for the event.
Huset är redo för invigningen.
The house is ready for the inauguration.
In this context, 'redo' is part of ‘göra oss redo’ which means to 'prepare ourselves'.