Tips for first time property buyers

27 August 2025

Stepping onto the first rung of the property ladder? Exciting! There's a lot to do before you pick up the keys and call yourself a property owner. Here are the first time homeowner tips you need to know:

Deposits: Bigger is better, but not necessarily best
Get help to buy from the government
Watch out for hidden fees
What to look for during a viewing
How to make an offer
Finalising the practical details

Deposits: bigger is better, but not necessarily best

Your deposit pays for a chunk of the property, and the rest is mortgaged. The bigger your deposit, the less money you'll need to pay back. A bigger deposit will get you a better deal from your lender, too.

It's tempting to put your life savings down, but it's worth leaving some money in the bank. You'll need money to pay fees, buy furniture and to act as a cushion in case anything goes wrong.

Get help to buy from the government

There are a few government-backed schemes to help out first time buyers. Most notably:

First Homes scheme
First-time buyers in England may be able to get 30-50% off market value. This includes new builds, and homes bought through an estate agent.
Shared ownership
With shared ownership, you buy 10% to 75% of a property and pay rent on the rest. When you're ready, you can increase your shares to pay less rent, or buy the home outright. This scheme is available across the UK.
Help to buy in Wales
First time buyers in Wales can apply for a loan to help with the cost of buying a new build.

The government have committed to launching new initiatives that help more people buy their own homes. For now, check out gov.uk for a comprehensive list of the current affordable home ownership schemes around the UK.

Watch out for hidden fees

The price of your new home isn't the only cost to look out for. You've also got to think about:

Conveyancing and its associated fees
This could cost up to £2,200 in total.
Stamp duty
For first-time buyers in England and Northern Ireland, stamp duty applies when you pay more than £300,000 for a home. There are similar taxes in Wales and Scotland, too.
The cost of moving
If you already own furniture, you might need to hire a removal firm.
Getting a survey
How much you’ll pay depends on the value of the home. The average survey costs between £380 and £630.

What to look for during a viewing

When you’re doing a viewing, it’s important you look at the home with a critical eye:

Don't be blinded by staging.
Check there are enough plug sockets.
Run the taps and shower to check water pressure and plumbing.
Take a walk around the neighbourhood.

While not essential, coming back at night to see if the atmosphere changes. Pubs and takeaways might get rowdy, so a visit at night could help you get a better picture of the area.

How to make an offer

Found your ideal home? Great! Now, you need to keep a poker face. If the owner knows you love it, they might try to get you to increase your offer.

Before telling the estate agent you’re interested, spend a bit of time on Rightmove and Zoopla. Look at how fast properties in the area sell, and how much they usually sell for. If properties tend to sell slowly you can be a bit cheeky with your offer. But if they go quickly, you might want to put down a little bit extra to guarantee you get it.

Get in touch with the estate agent and let them know what you're willing to pay. Be sure to send them an email afterwards so they have it in writing, too. If the seller’s happy, conveyancing (the transfer of documents and sorting out the final details) can begin.