Buying your first home is exciting — no doubt about it. But let’s be honest, it’s also a bit nerve-wracking. There’s paperwork, jargon, financial pressure, and more opinions than you ever asked for. While finally getting on the property ladder is a major milestone, it’s surprisingly easy to make mistakes — and some of them can be pretty expensive.
If you’re planning to buy your first home in the UK, here’s a breakdown of the most common missteps first-time buyers make — and how to avoid them.
1. Not Sorting a Mortgage Agreement in Principle (AIP) First
It’s tempting to start browsing properties straight away — who doesn’t love scrolling through Rightmove? But before you get too carried away, it’s worth getting a Mortgage Agreement in Principle from a lender.
This is a simple statement that says, based on your finances, how much you could borrow. It’s not a formal offer, but it helps you know where you stand.
Why it matters:
- Sellers take you more seriously
- You don’t waste time looking at homes you can’t afford
- It speeds up the offer process when you do find “the one”
Pro tip: Use mortgage comparison websites or speak to an independent adviser to get a feel for your options.
2. Forgetting About the Extra Costs
A lot of first-time buyers focus so much on saving for their deposit, they overlook everything else. But buying a home comes with quite a few extras.
Typical costs include:
- Stamp Duty: You won’t pay it if the property’s under £425,000, but above that, it kicks in
- Solicitor or conveyancer fees: Around £800–£1,500
- Survey and valuation fees: Can range from £400 to £1,000+
- Removals, furniture, and decorating: These quickly add up
Real example: A couple in Bristol saved 10% for their dream flat, but forgot about legal fees and ended up borrowing from family last minute. Avoid the stress and build a full budget early on.
3. Falling for the House and Ignoring the Location
It’s easy to get swept away by a beautiful kitchen or a garden with fairy lights. But what about the street? The neighbours? The local area?
Things to check:
- Commute times and public transport
- Local schools and Ofsted ratings
- Noise levels and crime stats
- Future developments (your quiet view might be a building site next year)
Top tip: Visit the area at different times — rush hour, weekends, evenings — to get a real feel for what it’s like to live there.
4. Skipping the Property Survey
Some buyers, especially with new builds, assume a survey isn’t needed. But issues like damp, dodgy wiring or roofing problems can be hiding in plain sight.
Main types of surveys:
- Condition Report – basic but better than nothing
- Homebuyer Report – popular and covers most needs
- Building Survey – best for older or unusual properties
Skipping a survey to save £500 could cost you £5,000 later. It’s not worth the gamble.
5. Getting Emotionally Attached Too Quickly
You walk into a property, fall in love, and start mentally arranging your furniture. Sound familiar?
It’s perfectly normal to get excited — but try to stay level-headed. Falling in love too fast can lead to:
- Overpaying
- Overlooking issues
- Rushing decisions
A smarter move: View several homes before deciding. Keep a list of “must-haves” and “deal-breakers” to help you stay grounded.
6. Only Thinking Short-Term
Your first home doesn’t have to be your forever home, but it should at least suit your needs for a few years. A one-bedroom flat might seem ideal now — but what if your circumstances change?
Ask yourself:
- Will I need space to work from home?
- Could I be starting a family?
- How easy will it be to resell or rent out?
A bit of forward-thinking goes a long way when it comes to buying smart.
7. Choosing the Wrong Mortgage
Mortgages can feel confusing — fixed rates, trackers, Help to Buy, Shared Ownership — where do you even start?
Many buyers just go with whatever their bank offers, but that’s not always the best deal.
Things to consider:
- How long do you want to fix your rate for?
- What happens if you move or overpay?
- Do you understand all the fees and small print?
Advice: Speak to an independent mortgage adviser. They can explain your options in plain English and often find you better deals.
8. Overlooking Leasehold Terms
If you’re buying a flat (or even some houses), chances are it’s leasehold. That means you own the property, but not the land it’s built on — and this comes with strings attached.
Watch out for:
- Short leases (under 80 years = trouble down the line)
- Increasing ground rent
- Expensive service charges
- Restrictions on pets, subletting, or renovations
Before you commit, ask your solicitor to explain the lease in plain terms.
9. Not Looking into First-Time Buyer Schemes
There’s help out there — but many first-time buyers don’t take advantage of it simply because they’re unaware.
Government support includes:
- Lifetime ISA (LISA): Save up to £4,000 a year and get a 25% bonus
- Shared Ownership: Buy part, rent the rest
- First Homes Scheme: Discounted new-builds for key workers and locals
- Help to Buy ISA: Still usable if opened before 2019
It’s worth looking into your eligibility early in the process.
10. Rushing the Decision
When you’re keen to buy, it’s easy to rush things. But this isn’t a weekend purchase — it’s your home and one of the biggest financial decisions of your life.
Don’t let pressure from estate agents, family, or even your own eagerness push you into making a hasty choice.
Take your time. Ask questions. Sleep on it.
My Honest Advice? Don’t Panic Buy
I’ve helped a few friends through the home-buying process and I always tell them the same thing: don’t rush it.
It might feel like you’re “falling behind” or missing out, but there will always be another property. What matters is that the one you buy works for your life, your budget, and your future plans.
So slow down. Do your homework. And trust yourself.
FAQs About First-Time Home Buyers
A: Most lenders ask for at least 5% of the property price, but saving 10% or more gives you access to better mortgage deals.
A: You can, but your options may be limited and the interest rates higher. It’s a good idea to check your credit score and work on improving it if possible before applying.
A: Using a broker often gives you access to a wider range of deals — and they’ll help you understand the fine print too. It’s usually worth it.
Final Thought
Avoiding these common mistakes could save you time, money, and a whole lot of stress. Buying your first home isn’t always smooth sailing, but with a bit of preparation and a clear head, you’ll be in a much stronger position to make the right choice.