Essential tips for first-time buyers: What to know for a smooth home-buying experience

It is widely considered that buying a home is one of the most stressful events in life, particularly for a first-time buyer that has not been through the process before. Often, extended timescales and financial pressures can put extra strain on purchasers.

Budgeting for your first home

It is really important to consider your finances and plan for not only the deposit to purchase your first property, but also conveyancing fees, disbursements, building survey costs, potentially Stamp Duty Land Tax and hiring removals.

If you are planning to purchase your property using a mortgage, often a broker or mortgage consultant will discuss your monthly outgoings and savings with you to see whether your mortgage payments are affordable. Consider adopting a similar process to see whether the other costs associated with buying your first home are also achievable.

Understanding mortgage funding

Discussing available mortgage products with a broker or mortgage consultant helps to determine the price range of properties that you may be able to afford. This also helps you refine and focus your property search more effectively.

Obtaining a ‘Decision in Principle’ can also be beneficial and many Estate Agents require this before accepting an offer on a property as it demonstrates that you are financially prepared and able to proceed.

Review your credit score and take care when considering new loans, credit cards or changing jobs around the time that you are looking to buy a new home. This may cause delays or issues when considering mortgage finance.

Property viewings – what to look out for

Once you are happy that you are able to afford to purchase your first home, make sure to conduct viewings of your potential properties and particularly for any you wish to make an offer for. When viewing, carefully consider the condition of the property and any signs of trouble such as cracks, damp and other possible faults.

It is worth considering how long the property has been on the market and whether any previous sales have fallen through. This may indicate that the property is overpriced or that previous buyers identified issues worth investigating.

Once your offer has been accepted, you have the opportunity to commission a building survey to obtain a clear understanding of its true condition and make an informed decision. Again, you can then consider whether further funds are needed for repairs, renovations or updates to the property.

The conveyancing searches ordered by your conveyancer will also highlight other potential considerations such as whether there are any environmental considerations such as flooding or nearby planning applications which could affect your enjoyment of the property.

Understanding property tenure: Freehold vs Leasehold

It is important to understand whether the property is freehold or leasehold. Houses are usually freehold but can sometimes have extra charges for estate management. Flats are usually leasehold and can come with a share of the freehold. Flats are usually subject to service charges, shared buildings insurance and sometimes an annual ground rent.

The main difference is that a leasehold property is governed by the obligations and regulations set out in the lease. A freehold property can also have restrictions, usually on the property title, in the form of covenants. It is worth checking with your conveyancer whether there are any onerous provisions before committing to your purchase and exchanging contracts.

Choosing the right conveyancer

Make sure to choose a conveyancer or solicitor early in the process to help guide you through the process. Fees should be transparent and provided up front – without hidden costs.

The role of the conveyancer is to make all the necessary legal checks and provide you, as the buyer, with all the information needed from a legal perspective to make an informed decision as to whether to proceed with your purchase.

Once you have chosen a conveyancer, provide their details to the Estate Agent handling the sale of the Property so a Memorandum of Sale can be issued promptly.

Using Help to Buy Schemes / Lifetime ISAs

Many purchasers use Help to Buy ISAs/savings or Lifetime ISAs towards the funding of their purchase. Ensure to highlight this to your conveyancer early in the process as there can be timescales of several weeks required to request the funds from the relevant bank or building society and this can help to prevent delays.

Property transaction timescales

The timescale for the purchase of a property in England and Wales can vary widely depending on a number of factors:

• Condition of the property
• Communication from sellers and third parties
• The efficiency of the conveyancer
• Whether any issues have been revealed

Typically:

• Freehold purchases: approximately 3–4 months
• Leasehold purchases: usually longer due to additional legal checks and management information requirements

Planning for removals

Think about whether you will be taking care of packing and moving yourself or whether you are looking to instruct a removal company to help. Obtain estimates and clarify timescales in order that you can advise your conveyancer as to the period required between exchange and completion. They will need to consider this in conjunction with your lender’s requirements (if you are using a mortgage).

Make sure that you review the terms of any removals contract thoroughly. It is our recommendation that a buyer does not enter a removals contract or pay a deposit before exchange of contracts has been achieved.

Are you ready to buy your first home? Speak to our experts

Buying your first property is a major milestone and having the right support makes all the difference. Our conveyancing team specialises in guiding first-time buyers through every stage of the process with clarity, confidence and friendly expertise.

If you are ready to take the next step, get in touch with our team today. We are here to help make your home-buying journey as smooth and stress‑free as possible.