10 first-time buyer tips you need to know

Getting on the property ladder as a first-time buyer is an exciting part of your life. We also understand how daunting and overwhelming the process can be without proper guidance. From budgeting and saving to choosing your ideal location and finding the right mortgage for you, there’s a lot to consider. Don’t worry, that’s why we’ve created this dedicated blog.

In this blog, we’ll guide you through our 10 first-time buyer tips for getting on the property ladder. By reading this guide, you’ll have the added confidence and reassurance to make informed decisions, avoid common pitfalls, and move confidently towards buying your first home.
 

1. Think about the location of your first home

As a first-time buyer, choosing the right location for where you want to live is one of the biggest decisions you’ll make. This step will shape your day-to-day lifestyle and could impact the value of your property if you were to sell it in the future.

Start by looking online for properties in the area you’re thinking of buying your first home. Doing so will give you an idea of the types of properties in your chosen location, be it houses or flats, and their prices. This initial insight will give you an idea if the area you’re looking into has the type of properties you’d like to move into and can afford.

It’s important to think about whether the location of your first home caters to your current and future wants and needs. You could ask yourself the following:

• What amenities, such as shops, restaurants, bars, parks and gyms are nearby?
• Is there public transport?
• How long would my commute to work be?
• If you were to move jobs, what opportunities would be close to you?
• If you have or are thinking about having children, are there schools close by?
• Will you be far from your family and friends?
• What’s the crime rate?

You could visit the area at different times of day and week to get a good understanding of what the location is like. Also, find out if there are any development projects in the pipeline, such as new-build homes, retail spaces, schools or transport upgrades. This infrastructure could boost the value of your property over time.

Choosing a location that’s right for you is essential for many reasons. For example, properties in well-regarded areas are typically easier to sell and profit from if you were to move in the future. Also, being near to essential services and transport can save you time and money.

Overall, finding an area that makes your day-to-day life more convenient and enjoyable is why choosing the right location is essential. Taking these considerations into account will give you a great starting point on where you’ll move to as a first-time buyer. It may sound cliché, but you should find a location that genuinely feels like home to you.

 

2. Assess your finances and set a realistic budget

Calculating how much you can borrow and understanding how much you can afford is a huge part of buying your first home. Setting yourself a realistic budget from the outset is one of the smartest moves first-time buyers can take. Doing so will free you from falling into any financial strain and ensure you don’t find yourself looking into properties you can’t afford at this time.

One of the best first-time buyer tips for setting a budget is to first assess your income, savings and expenses. Set aside time each month to track the money coming in and going out of your account. Taking this proactive approach will help you understand and monitor your spending. You can do this by using your chosen banking app or in a spreadsheet – whatever method works for you.

When you track your spending, monitor any expenses you could reduce. For example, you could be paying for subscriptions you don’t use anymore or spending too much money on takeaways and coffee. Cutting down on these expenditures and putting this money into a savings account will increase the deposit you can put down on your first home. More on this in a later tip.

Another important reason to track your finances is to demonstrate to lenders that you have the financial discipline to manage your money sensibly.

When you apply for a mortgage, which is a type of loan designed for homebuyers, a lender will conduct a credit check on you. Now, this isn’t as scary as it sounds. It’s just part of the process of buying a home to ensure you have the financial stability to pay the mortgage.

Lenders will assess your monthly income and outgoings, along with your credit score and any debts you have. Once they’ve conducted a credit check and are happy, they’ll give you what’s called an Agreement in Principle (AIP) or Decision in Principle (DIP).

A Decision in Principle is a personalised assessment based on your finances that gives you an idea of how much you can borrow towards buying a property.  With a Decision in Principle, you can set yourself a realistic budget for the types of properties you can afford.

Knowing what your financial situation is will put you in a great position when it comes to applying for a mortgage and receiving your Decision in Principle, helping to get you on the property ladder as a first-time buyer.

Taking the time to evaluate your finances, setting a clear budget, and preparing for the mortgage application process will allow you to enter the property market as a first-time buyer more confidently and with fewer financial surprises along the way.
 

3. Start saving for a deposit on a house

We briefly touched on savings in our previous tip for first-time buyers, but let’s explore this point further.  

For most first-time buyers, saving for a deposit for a home is one of the toughest hurdles for getting on the property ladder. The deposit you’ll need to buy your first home will depend on various factors, such as the location and size of the property.

Typically, you’ll need to pay a deposit of anywhere from 5%, 10% and 20% of the overall value of the property. Your deposit is an amount of money paid in advance to secure your first home. The deposit is taken off the price of the property you’re buying, with the mortgage covering the rest. You’ll then pay off the mortgage over time.

For example, if you were looking to purchase a property worth £180,000 and you needed a 10% deposit, you’ll need to have £18,000 ready to put towards buying the home. You would then have a mortgage covering the remaining 90% or £162,000, which you will pay off at a pre-determined rate over a set number of years.

Before you secure the purchase of your first home, you must ensure you have enough savings for a deposit. Taking our previous first-time tips into account, the best way to ensure you have the money to put down for a deposit is to set yourself a saving goal and stick to it. Determine how much you can afford to set aside each month and go from there. An excellent way to support you with this is by opening a savings account.

Savings accounts allow you to securely set aside the money you don’t want to spend immediately for a future investment, such as buying your first home. These accounts will pay interest, allowing you to save money while boosting your funds at the same time. For example, let’s say you put £1,000 into a savings account with a 3.00% annual interest rate. After 12 months you would have a balance of £1,030.00 if no money is taken out or paid in. 

There are various types of savings accounts, from Cash ISAs to Regular Saver accounts, all offering different terms and rates. Knowing which type of savings account is right for you can be a tricky decision. Our advice would be to speak to a savings expert who can guide you through the process to help you find the best account for your needs. 

Saving for a deposit isn’t always easy, but it’s entirely possible with the right approach.

 

4. Look at the hidden costs of buying your first home

Following our previous first-time buyer tips around checking your finances and making sure you have the money saved for a deposit, our next piece of advice is to consider the other costs of buying your first home.

It’s important to recognise these additional costs as it will help you with setting a realistic budget and prevent you from encountering nasty surprises down the line. The main costs to consider include the following:

• Legal Fees: You’ll need a solicitor or conveyancer (a legal professional specialising in the legal aspects of buying and selling property), to handle the legal aspects of buying your first home. Fees can range from £500 to £1,500, depending on complexity.
• Survey Costs: Property surveys are worth paying for as a first-time buyer. These surveys look for any structural issues or defects with the property before you commit to the purchase. You may have to pay £250 to £600+, depending on the type of survey.
• Mortgage Broker Fees: A broker will help you find the best mortgage rate and facilitate the financial transaction with the lender and estate agent or property owner.
• Moving Costs: Hiring a removal company can vary widely based on distance and the number of belongings you’re moving. Costs can range from a few hundred to over a thousand pounds.
• Council Tax: How much you pay for council tax will vary on your area and property value. Check your local council’s website to find your property’s tax band.
• Home Insurance: Required by most lenders and a good thing to have regardless.
• Utility Bills: Gas, electricity, water, broadband - these add up.
• Maintenance and Repairs: Even new builds will require upkeep, so set aside some money for this.
• Leasehold charges: If you’re buying a flat, you may have to pay ground rent and service charges.
• Stamp Duty Tax: First-time buyers only pay Stamp Duty if the value of the property is over a certain amount. From 1 April 2025, in England and Northern Ireland, standard Stamp Duty rates only apply to first-time buyers if the property is worth over £500,000. These rules differ in Scotland and Wales, so be sure to check your local guidelines.

We’ve included this section to give you transparency and to help you prepare for the homebuying process. These additional costs are completely normal, and some may not even apply to you. Don’t let these costs put you off from buying your first home – just keep them in mind.
 

5. Seek specialist advice for first-time home buyers

Buying your first home is an exciting time. It can also be a challenging time and one of the most significant financial decisions you’ll ever make. Thankfully, it’s not something you must tackle alone.

Specialist advice for first-time buyers is widely accessible and one of the smartest things you can do as you plan to purchase your first property. Whether from a qualified mortgage adviser or independent financial expert, these specialists can support you through each stage of the home buying process.

Booking an appointment with someone who offers expert advice for first-time home buyers can benefit you in the following ways:

• Tailored advice to your situation: A mortgage or specialist financial adviser can assess your income, expenses, savings, and credit history to help you set a realistic budget and give you a clear idea of how much you can borrow.
• Save money over time: Advisers have access to better mortgage deals and exclusive products you won’t find online. They can find the best interest rates and fees that may save you thousands over the time you pay off your mortgage.
• Clarity and confidence: Understanding the ins and outs of mortgages can be overwhelming. A specialist can explain your options and help you choose the solution that suits your needs and lifestyle.
• A Mortgage Decision in Principle: An adviser can help you obtain a mortgage decision in principle, making you a more attractive buyer to sellers.
• Answering your questions: A specialist adviser can be the person you turn to for support in answering your home-buying questions – giving you assurance and peace of mind. 

Investing in this specialist advice can make the process of buying your first home and joining the property ladder more seamless. Make sure to choose an adviser who is regulated by the Financial Conduct Authority (FCA) who can offer impartial first-time buyer advice.

 

6. Get your ID and financial documentation ready

From reading our previous first-time buyer tips, you’ve probably realised by now that preparation is key when it comes to buying your first home. Brokers, lenders, estate agents and solicitors will ask for specific identification and financial documentation.

Here are the key documents you should get ready as you prepare to get on the property ladder as a first-time buyer:

• Proof of identity: A valid passport or driving licence.
• Proof of address: You can use recent bank statements, utility bills or other official correspondence the lender allows.
• Financial documents:
  • Payslips (typically your last 3 months).
  • Bank statements (usually your last 3–6 months).
  • Proof of your deposit funds (such as savings account statements).
• Credit check: Assess your credit score and correct any issues before applying for a mortgage.
• Employment details: You may be asked to show proof from your employer confirming your position and income.
• Other commitments: Include details of any loans, debts or other regular financial outgoings.

Getting the above documentation ready will help streamline your experience of the home-buying process. If you’re ever unsure about what documentation you’ll need, help is out there to guide you. As mentioned in our previous tip, speaking with a specialist adviser can help ensure you have the correct documentation to get the ball rolling.

 

7. Take your time at property viewings

Viewing properties is one of the most exciting times for a first-time buyer. You get to look around various homes to picture what your rooms could look like, get a sense of the area and weigh up your options. It’s also a stage in the home-buying process where you should take your time.

When viewing properties, consider checking for the following:

• Keep an eye out for any cracks in walls, stains on ceilings, and any signs of dampness or mould.
• Test any taps and showers for water pressure and temperature. Look for any leaks around pipes and under sinks. Ask how old the boiler is and when it was last serviced.
• Check the electrics by turning lights on and off, plugging in a charger to test sockets, and asking about the age of the fuse box.
• Look inside cupboards, lofts, and garages to ensure there’s enough storage space for your belongings.
• Open and close windows and doors to check for sticking, drafts, or poor insulation.
• Listen for traffic noise, observe the general upkeep of other properties in the area and get a feel for the community.

Don’t be afraid to make notes as you view the property. Ask the estate agent or whoever shows you around the property questions. Try to get a full understanding of the property to avoid encountering any unwanted issues or expensive renovations later down the line. Identifying any issues could allow you to negotiate a lower offer or give you the leverage to request repairs to be made before you commit to the purchase.

Buying your first home is a huge financial commitment, so you need to make sure the property you’re looking to purchase is worth your investment.

 

8. Find the right mortgage for you

One of the biggest financial decisions you’ll make as a first-time buyer is getting yourself the best mortgage deal possible. Securing the right mortgage deal for you can save you money, reduce the stress of managing your monthly mortgage payments and give you much-needed peace of mind as you begin to climb the property ladder.

Finding the right mortgage for you should consist of understanding the different types of mortgages available:

• Fixed-rate mortgages: The interest you pay will stay the same for a set period, typically two to five years - a great option if you’re focused on budgeting as your monthly repayments stay the same for this fixed rate period.
• Variable rate mortgages: The rate you pay each month can go up or down, as the interest rate is usually linked to the lender’s standard rate.  This means your monthly repayments can go up or down too.
• Tracker mortgage: Follows the Bank of England’s base rate, with a set margin above or below it. This means your monthly repayments can fluctuate too.

You should also consider these first-time buyer tips to help you find the best mortgage deal:

• Compare mortgage deals from building societies, banks and online lenders.
• Use a mortgage broker to help you access exclusive deals and match you with a product that suits your income, credit history, and goals.
• Look beyond the headline rate by considering factors like arrangement or product fees, early repayment charges, and incentives like cashback or free valuations.
• Make sure your income is stable, your debts are manageable, and your credit score is in good shape to increase your chances of being eligible for the mortgage deal.

Getting this step right will put you in a stronger position to buy your first home. It will help ensure you’re getting on the property ladder on the right foot, making the process of remortgaging or moving into another home more seamless in the future.

 

9. Make an offer to buy your first home

So, you’ve got your mortgage in principle and have viewed a property you’re eager to purchase. The next step is to put in an offer.

When submitting your offer to the estate agent or seller, ensure you stay within your budget to avoid running into financial strain. Remember, as much as you want to buy your first home, you also need to make sure you have enough money to live a happy life. Think about the previously mentioned ‘other costs’ associated with purchasing a property, and if you’ll have the money to put towards personal things such as holidays and other purchases you’ll want to make.

First-time buyers shouldn’t feel intimidated to negotiate on the price of a property. Start with an offer below the maximum price you can afford, as this gives you scope to negotiate without rushing the process. Consider starting with a well-considered offer that meets or falls just below the asking price. When doing so, make sure you can justify your offer. For example, the property could need repairs or updates that will factor into your budget.

By following these steps and having a mortgage decision in principle at the ready, you will reassure estate agents and sellers about how serious and prepared you are when making an offer. The seller will come back to you to either accept your offer or ask you to resubmit an offer that’s closer to what they’re asking for. When preparing for a counteroffer, consider your budget and how much you really want the property.

Throughout the offer stage, it’s important to maintain good communication with the estate agent or seller.  Be aware that others will be submitting offers for the property, so be courteous and respectful. Taking this approach can be the difference between having your offer rejected or accepted.

Approaching the offer stage with research, preparation, and a clear budget will make your home-buying experience more seamless and boost your chances of securing your first home smoothly at a price that works for you.

 While the final decision on making an offer sits with you, don’t be afraid to ask for support from the people close to you and a specialist adviser.

 

10. Be patient with the process of buying your first home

One of the best pieces of advice for first-time home buyers is to understand the process of purchasing a property can take time. Knowing the process can take time will help keep your expectations realistic and prepare you for any potential delays along the way.

As a first-time buyer, it’s important to recognise that you can’t control everything in the home-buying process. Remember that property surveys and mortgage approvals can take longer than anticipated, but these steps of the process are essential for your protection. You could encounter a situation where your final offer is rejected, the seller pulls out of the process, or your move is delayed because the seller has yet to get a move-in date on the new property they’ve purchased.

Of course, we hope your first-time buyer experience goes as smoothly as possible – it’s highly likely it will! We’ve included the points above to make you aware of the potential worse-case scenarios that you’ll hopefully not have to deal with. Our point is that no matter how long the process takes, the key is to stay patient.

We appreciate that the process of buying your first home is easier said than done, especially when balancing other aspects of your personal and professional life. Do your best to stay patient and keep in mind that you will eventually reach the outcome you were hoping to achieve in securing your first home.

 

Summarising our 10 first-time buyer tips

Buying your first home is a major milestone and a huge moment in your life. While the process can feel overwhelming at times, being informed and prepared makes all the difference. From choosing the right location and setting a realistic budget to understanding hidden costs and securing the best mortgage deal, each step plays a crucial role in helping you get on the property ladder with confidence.

Every first-time buyer's experience is slightly different. However, by taking your time, seeking expert advice, and staying patient throughout the journey, you’ll be well on your way to owning a home that suits both your lifestyle and financial goals. With the right approach, your dream of becoming a homeowner is more achievable than you think.
 

Thinking about buying your first home?

If you’re a first-time buyer thinking about how you can secure your first home, we can help. We’re the UK’s Best Specialist Mortgage Provider, as awarded by the Smart Money People British Bank Awards 2025, and have supported first-time buyers for over 160 years.

We’re here to help you find the right mortgage for you and guide you through each step of the home-buying process. Get in touch with our experienced team today to find the specialist advice you need to help you buy your first home.