First Time Buyer Guide

When it comes to buying your first home, there’s a lot to think about. We know first hand how stressful, emotional and overwhelming it can be to tackle the home-buying process for the first time, so we’re here to keep things simple with our guide to being a first time buyer in today’s market.


One of the most common fears among first time buyers is the financial commitment involved when purchasing a property.

It can seem like total guess work as to whether you can comfortably afford your mortgage repayments. Plus, whether you’re newly flying the nest or have been renting for years, you may not be able to gauge the unexpected expenses that can come with home-ownership, like maintenance and repairs.

OUR TIPS Always start with a comprehensive review of your finances, so that you confidently understand your monthly income and expenses. This will give you an idea of what you can afford to spend each month on mortgage repayments, and how much you can set aside for unexpected costs. You can then use this information to establish a realistic budget – including additional costs like Land Transaction Tax, conveyancing fees – and understand exactly how much you can afford to borrow.

If all this sounds overwhelming, our independent mortgage advice can set you on the right path.

Making the right choice

Another big fear for first time buyers is that they might make a mistake… what if the house has hidden defects that they don’t notice right away? What if the neighbourhood isn’t what they expected, or the housing market takes a turn? 

It’s also a huge commitment - buying a home could affect the next 15 - 30 years of your life, if not more. This can be intimidating, especially for younger buyers or those unsure of their future plans. If you’re worried about this, know that you’re not alone! These concerns are natural, and show that you’re taking this decision seriously. All first time buyers feel the panic, but with the right advice and support getting that first foot on the property ladder can be a life changing step.

OUR TIPS The best way to be confident in your decision is research, research, research. Research the local housing market to ensure you’re buying at a fair price, and look into the ratings of local schools, reviews of amenities, local crime rates, and any planned developments on the horizon. Visit or drive by the property multiple times at different hours of the day to get a feel for the neighbourhood and traffic levels. Also, don’t be afraid to ask the locals!

By obtaining a detailed home survey you can be confident in the condition of the property itself, and minimise the risks of any unknown issues biting you later down the road. Most local estate agents will also be able to provide valuable insights into the local market, local businesses and the best haunts in the area.

Understanding the buying process

The home buying process can seem complex, especially to first-time buyers. From arranging financing to understanding contracts and navigating the legal stuff, there’s a lot to do and understand.

OUR TIPS It’s a good idea to familiarise yourself with common terms used in the home buying process, such as conveyancing, Land Transaction Tax (LTT), and the different types of surveys.

The good news is, you don’t need to be an expert in the housing market - because we are! A good estate agent will be able to guide you every step of the way, provide valuable insights, and negotiate on your behalf; making sure you know what’s needed from you, without leaving you overwhelmed and exhausted. Don't be afraid to ask questions - it's their job to help you understand and navigate this process.


Related Reading

Getting a Mortgage in 7 Steps

Could you be getting £1000 a year free towards your deposit?

Buying a House in Today's Market

Our Home Buying Tips

A Guide to Land Transaction Tax


How can Dylan Davies help you?

If you're thinking of selling, contact us today for a free property valuation.

If you have a property to sell we would love to hear from you. Get in touch to arrange your no obligation property appraisal, or take a look at our free instant online valuation tool for an idea of what your property might be worth. On the other hand if you're looking to buy please make sure you register your interest early, plus keep an eye on our Facebook and Instagram stories for sneak peeks of the properties we have coming to market soon! Our mortgage and financial advisor, Suzanne King, is on hand to provide tailored and personal advice based on your circumstances and set you on the right path to owning your first home. Get in touch with Suzanne here.

Postcode areas we now cover; 
CF15, CF37, CF38, CF39, CF44, CF45, CF72

Posted on: 14 July 2023