Your first home, planned with confidence.
Buying your first home can feel complicated. Understand affordability, deposits, mortgages, buying costs and the key stages of the process before you make a commitment.
Your first purchase starts with understanding your numbers.
Before looking at properties, it helps to understand how much you can comfortably spend. Your income, deposit, existing commitments, mortgage terms and other costs can all affect the overall picture.
A realistic budget can make your property search more focused and help you avoid overlooking the costs that come with buying a home.
Three things to understand before you start viewing.
A little preparation can make the first-time buying process easier to understand and manage.
Know Your Budget
Consider your income, deposit and regular financial commitments before deciding what property price range feels realistic.
Understand Your Mortgage
Explore potential borrowing, monthly repayments, interest rates and how the mortgage term can affect your overall costs.
Allow For Extra Costs
Your property budget may need to cover Stamp Duty, legal work, surveys, moving costs and other expenses.
A clearer path from planning to keys.
The exact process can differ between buyers, but these stages give you a useful framework for preparing for your first purchase.
Set Your Buying Budget
Look at your income, deposit, existing commitments and the costs that sit alongside the property price.
Check Mortgage Affordability
Explore how much you may be able to borrow and consider what monthly repayments could look like.
Build Your Property Shortlist
Compare locations, property types, prices, condition, transport and other features important to you.
View Properties Carefully
Look beyond photographs and consider condition, layout, maintenance requirements and the surrounding area.
Make An Offer
Once you find a suitable property, decide what offer fits the property, market conditions and your budget.
Complete The Legal Process
Your solicitor or conveyancer handles the legal work and helps move the transaction towards completion.
What can influence how much you can afford?
Mortgage affordability is not based on property price alone. Lenders may consider your income, outgoings, deposit and other financial circumstances.
Budget for more than the deposit.
Understanding the wider costs can help you prepare a more complete budget for your first property purchase.
Deposit
The amount you contribute towards the property purchase.
Stamp Duty
Tax that may apply depending on the property and your circumstances.
Legal Costs
Fees for conveyancing and the legal work involved in purchasing the property.
Survey & Moving
Property surveys and moving-related expenses may also need to be included in your planning.
Financial checklist
Get the basics in place before you start comparing homes.
Property checklist
Look beyond the photographs when deciding whether a home is right for you.
Use the right tools before making a decision.
Explore GrowthSmartly calculators and guides to understand different parts of your first-home buying journey.
Mortgage Affordability Calculator
Explore a potential borrowing range based on your financial information.
Calculate Affordability →Mortgage Calculator
Estimate potential monthly repayments and compare different borrowing scenarios.
Calculate Mortgage →Loan-to-Value Calculator
Understand how your deposit relates to the amount you need to borrow.
Calculate LTV →Stamp Duty Calculator
Estimate potential Stamp Duty costs associated with your property purchase.
Calculate Stamp Duty →Mortgage Affordability Guide
Learn more about the factors that can influence mortgage affordability.
Read The Guide →Buying Property Guide
Return to the wider property-buying guide for more practical information.
Explore Buying →
Questions first-time buyers often ask.
Helpful starting points for understanding the buying process and preparing for your first home.
Your first home starts with a clear plan.
Understand affordability, explore the buying costs and prepare yourself before you start making offers.