{"id":35829,"date":"2026-05-06T16:34:10","date_gmt":"2026-05-06T16:34:10","guid":{"rendered":"https:\/\/globalestates.co.uk\/?p=35829"},"modified":"2026-05-07T12:57:18","modified_gmt":"2026-05-07T12:57:18","slug":"first-time-buyers-guide-to-buying-your-first-home","status":"publish","type":"post","link":"https:\/\/globalestates.co.uk\/ar\/first-time-buyers-guide-to-buying-your-first-home\/","title":{"rendered":"First-Time Buyer\u2019s Guide to Buying Your First Home"},"content":{"rendered":"\n<p>Buying your first home is an exciting step, and as a first-time buyer, you\u2019re often in a strong position. With no property chain and access to helpful government schemes, getting onto the property ladder can be easier than you think.<\/p>\n\n\n\n<p>This guide explains everything you need to know, from saving for a deposit to understanding mortgages and moving into your new home.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-5aec21578eff800cea084d54bdce3398\" style=\"color:#05512b\">Understand Your Finances<\/h4>\n\n\n\n<h5 class=\"wp-block-heading has-text-color has-link-color wp-elements-0772d25ee01cb493e8871f3ebfcd4d94\" style=\"color:#05512b\">Set a Realistic Budget<\/h5>\n\n\n\n<p>Before searching for a property, review your income and spending habits. Track your finances for a few months so you know how much you can comfortably afford.<\/p>\n\n\n\n<p>Remember to include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Monthly bills<\/li>\n\n\n\n<li>Travel costs<\/li>\n\n\n\n<li>Holidays and seasonal spending<\/li>\n\n\n\n<li>Emergency expenses<\/li>\n<\/ul>\n\n\n\n<p>A simple budgeting method is the <strong>50\/30\/20 rule<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>50% for essentials<\/li>\n\n\n\n<li>30% for lifestyle spending<\/li>\n\n\n\n<li>20% for savings<\/li>\n<\/ul>\n\n\n\n<p>You may want to increase your savings percentage while preparing for a house deposit.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_24_30-PM.png\" alt=\"\" class=\"wp-image-35833\"\/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-1a7cd97217bb3d5b6a863667e9bd119c\" style=\"color:#05512b\">Save for Your Deposit<\/h4>\n\n\n\n<p>Most first-time buyers need at least a <strong>5% deposit<\/strong>, but saving <strong>15\u201320%<\/strong> can help you secure better mortgage rates and lower monthly repayments.<\/p>\n\n\n\n<p>You should also budget for extra buying costs, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Solicitor fees<\/li>\n\n\n\n<li>Surveys<\/li>\n\n\n\n<li>Stamp Duty<\/li>\n\n\n\n<li>Removal and moving costs<\/li>\n<\/ul>\n\n\n\n<p>These additional expenses can total around <strong>3\u20135% of the property price<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_24_33-PM.png\" alt=\"\" class=\"wp-image-35836\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-13804bf994beece203cafd018a49c72c\" style=\"color:#05512b\">Consider a Lifetime ISA (LISA)<\/h4>\n\n\n\n<p>A <strong>Lifetime ISA<\/strong> can help boost your savings. The government adds a <strong>25% bonus<\/strong> to your contributions, up to \u00a31,000 each year.<\/p>\n\n\n\n<p>You can use the money towards your first home if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The property costs \u00a3450,000 or less<\/li>\n\n\n\n<li>The account has been open for at least 12 months<\/li>\n<\/ul>\n\n\n\n<p>Compare providers carefully, as interest rates and terms vary.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_24_35-PM.png\" alt=\"\" class=\"wp-image-35839\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-0e21cfd53651ae36653b5dff74852602\" style=\"color:#05512b\">Check Your Credit Score<\/h4>\n\n\n\n<p>Your credit score can affect the mortgages available to you and the interest rates you receive.<\/p>\n\n\n\n<p>To improve your score:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Pay bills on time<\/li>\n\n\n\n<li>Keep credit card balances low<\/li>\n\n\n\n<li>Avoid multiple credit applications before applying for a mortgage<\/li>\n\n\n\n<li>Register on the electoral roll<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_24_38-PM.png\" alt=\"\" class=\"wp-image-35842\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-a5209833e42bb99b0128e3653a172bc0\" style=\"color:#05512b\">Explore Government Schemes<\/h4>\n\n\n\n<p>First-time buyers may qualify for support schemes such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>First Homes Scheme<\/strong> \u2013 Discounts of 30% to 50% on selected new-build homes<\/li>\n\n\n\n<li><strong>Shared Ownership<\/strong> \u2013 Buy a share of a property and pay rent on the rest<\/li>\n\n\n\n<li><strong>Lifetime ISA (LISA)<\/strong> \u2013 Government savings bonus for your deposit<\/li>\n\n\n\n<li><strong>Help to Buy ISA<\/strong> \u2013 Existing account holders can still claim bonuses until 2030<\/li>\n<\/ul>\n\n\n\n<p>Many developers also offer low-deposit schemes and family support options.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_24_40-PM.png\" alt=\"\" class=\"wp-image-35845\"\/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-643fd4379707b9860edd3b891bb358f8\" style=\"color:#05512b\">Start Your Property Search<\/h4>\n\n\n\n<p>Think about the type of property that suits your needs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Flat or house<\/li>\n\n\n\n<li>New build or older property<\/li>\n\n\n\n<li>Location and transport links<\/li>\n\n\n\n<li>Nearby schools, shops and amenities<\/li>\n<\/ul>\n\n\n\n<p>Use estate agents, property websites and developer listings to compare available homes.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_24_43-PM.png\" alt=\"\" class=\"wp-image-35848\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-7a04efbc25c97570aaef7b9a7724826d\" style=\"color:#05512b\">Book Property Viewings<\/h4>\n\n\n\n<p>Viewing several homes helps you understand what\u2019s important to you.<\/p>\n\n\n\n<p>During a viewing:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ask questions about the property<\/li>\n\n\n\n<li>Check for damp or structural issues<\/li>\n\n\n\n<li>Look at energy efficiency features<\/li>\n\n\n\n<li>Visit at different times of the day<\/li>\n\n\n\n<li>Explore the local area<\/li>\n<\/ul>\n\n\n\n<p>Taking photos and notes can help you compare properties later.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_27_35-PM.png\" alt=\"\" class=\"wp-image-35851\"\/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-412d257e0e0386b9174e8642d0c28fd1\" style=\"color:#05512b\">Understanding the Mortgage Process<\/h4>\n\n\n\n<h5 class=\"wp-block-heading has-text-color has-link-color wp-elements-f6292d8c60d90d095d723e43e45512d8\" style=\"color:#05512b\">Choose the Right Mortgage<\/h5>\n\n\n\n<p>Compare lenders carefully and look at:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Interest rates<\/li>\n\n\n\n<li>Fees<\/li>\n\n\n\n<li>Mortgage terms<\/li>\n\n\n\n<li>Customer reviews<\/li>\n<\/ul>\n\n\n\n<p>You\u2019ll usually choose between:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fixed-rate mortgages<\/strong> \u2013 Payments stay the same for a set period<\/li>\n\n\n\n<li><strong>Variable-rate mortgages<\/strong> \u2013 Payments can change over time<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_28_36-PM.png\" alt=\"\" class=\"wp-image-35854\"\/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-16f52348247d54ae35fa21dd35410862\" style=\"color:#05512b\">Be Aware of Extra Costs<\/h4>\n\n\n\n<p>When buying a home, additional costs may include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Mortgage arrangement fees<\/li>\n\n\n\n<li>Property valuation fees<\/li>\n\n\n\n<li>Buildings insurance<\/li>\n\n\n\n<li>Conveyancing solicitor fees<\/li>\n\n\n\n<li>Reservation fees for new builds<\/li>\n\n\n\n<li>Stamp Duty Land Tax<\/li>\n<\/ul>\n\n\n\n<p>First-time buyers currently pay:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No Stamp Duty on homes up to \u00a3300,000<\/li>\n\n\n\n<li>5% on the portion between \u00a3300,001 and \u00a3500,000<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-3066ed5c68f194eafa1f0618af939d1f\" style=\"color:#05512b\">Completing Your Purchase<\/h4>\n\n\n\n<p>Once legal checks are complete, contracts are exchanged and your deposit is paid. On completion day, the remaining balance is transferred and you receive the keys to your new home.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-0376af73f6372283ceeddbceea1b4208\" style=\"color:#05512b\">Moving Into Your New Home<\/h4>\n\n\n\n<p>Plan ahead for moving costs such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Removal companies<\/li>\n\n\n\n<li>Packing supplies<\/li>\n\n\n\n<li>Utility setup fees<\/li>\n\n\n\n<li>Internet installation<\/li>\n<\/ul>\n\n\n\n<p>To settle in quickly:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Update your address details<\/li>\n\n\n\n<li>Set up utilities before moving day<\/li>\n\n\n\n<li>Meet your neighbours<\/li>\n\n\n\n<li>Locate nearby services like GP surgeries and pharmacies<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"1024\" src=\"https:\/\/globalestates.co.uk\/wp-content\/uploads\/2026\/05\/ChatGPT-Image-May-6-2026-05_29_49-PM.png\" alt=\"\" class=\"wp-image-35857\"\/><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-color has-link-color wp-elements-56fd48d71a01800c73e3f434973ca071\" style=\"color:#05512b\">Final Thoughts<\/h4>\n\n\n\n<p>Buying your first home can feel overwhelming, but with careful planning and the right support, the process becomes much more manageable. Understanding your finances, exploring available schemes and preparing for the mortgage process will help you move confidently towards owning your first property.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying your first home is an exciting step, and as a first-time buyer, you\u2019re often in a strong position. With no property chain and access to helpful government schemes, getting onto the property ladder can be easier than you think. This guide explains everything you need to know, from saving for a deposit to understanding [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":35830,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[238],"tags":[239],"class_list":["post-35829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-buying-guide","tag-uk-home-buying-guide"],"_links":{"self":[{"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/posts\/35829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/comments?post=35829"}],"version-history":[{"count":2,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/posts\/35829\/revisions"}],"predecessor-version":[{"id":35973,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/posts\/35829\/revisions\/35973"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/media\/35830"}],"wp:attachment":[{"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/media?parent=35829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/categories?post=35829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalestates.co.uk\/ar\/wp-json\/wp\/v2\/tags?post=35829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}