Buying your first home...
- Dawn Wilkes
- Nov 17, 2025
- 3 min read
Buying your first home is exciting — but it can also feel overwhelming when you’re not sure where to start. As a first-time buyer, you’re not just choosing a property; you’re making one of the biggest financial decisions of your life. With the right guidance, preparation, and support, the process becomes far clearer and far less stressful.
Here are the key things every first-time buyer should be considering before taking the leap into homeownership.
1. Understand Your True Budget (Not Just Your Deposit)
Many first-time buyers focus on saving a deposit, but that’s only one piece of the puzzle. You’ll also need to consider:
Mortgage affordability – how much lenders are likely to offer based on income and outgoings
Monthly repayments – and whether you can comfortably afford them
Additional costs such as solicitor fees, surveys, moving costs, insurance, and potential repairs
It’s important to get clarity early on, so you know what price range feels realistic and sustainable. As an adviser, I help you understand your full financial picture before you even start viewing homes.
2. Your Deposit: Bigger Is Better, But Not Essential
A 10% deposit is common—but there are options with as little as 5% down. The larger your deposit:
the lower your monthly repayments may be
the wider your choice of mortgage deals
the less you’ll pay in interest
Don’t panic if you’re still building your savings; there are routes forward, and I’ll help you explore them.
3. Get a Decision in Principle (DIP) Early
Before you start booking viewings, it’s wise to secure a Decision in Principle. This quick check:
shows what a lender is willing to offer you
demonstrates to estate agents that you’re a serious buyer
helps avoid disappointment later
A DIP isn’t a full mortgage offer, but it gives you confidence in your buying power from the start.
4. Consider Your Long-Term Plans
A home isn’t just about your life now—it’s about where you’ll be in a few years’ time. Ask yourself:
Will you need space for working from home?
Are you planning to start or grow a family?
Are commuting routes and local amenities important?
Would you be happy staying in the property for at least 3–5 years?
These long-term questions influence your location, property type, and mortgage choices.
5. Don’t Forget the Ongoing Costs of Homeownership
Unlike renting, owning a home comes with responsibilities and costs that can catch first-time buyers off guard. Be prepared for:
Buildings and contents insurance
Utility bills and council tax
Maintenance and repairs
Service charges or ground rent if buying a leasehold property
Understanding these costs upfront helps you budget confidently.
6. Protection: Securing Your Home and Your Future
Buying a home is a significant milestone—so it’s important to protect it. First-time buyers often overlook essential protection such as:
Life Insurance
Income Protection
Critical Illness Cover
These policies help safeguard your home and financial stability should the unexpected happen. As a protection specialist, I can guide you through what’s necessary, what’s optional, and what’s right for your personal circumstances.
7. Get Expert Support to Navigate the Whole Journey
With thousands of mortgages on the market, it’s difficult to know which one offers true value—not just today, but over the next few years. Working with an independent adviser gives you:
access to deals from a wide range of lenders
unbiased advice tailored to your circumstances
support with paperwork, applications, and lender communication
clarity, reassurance, and peace of mind
You’re never left to figure things out on your own.
Ready to Start Your First Home Journey?
Whether you’re just exploring your options or you’re ready to make an offer, I’m here to help you every step of the way. With clear advice, practical guidance, and access to thousands of mortgage products, you’ll have everything you need to make confident decisions.
Book a friendly chat with me today, and let’s get you one step closer to your new home.