First-time buyer's guide: 10 things to know in 2025

Buying your first home is one of the biggest financial decisions you’ll ever make. Whether you’re browsing listings in London, Dubai or Lahore, the fundamentals are surprisingly similar. This guide walks you through the ten things that matter most.

1. Get your finances in order first

Before you fall in love with a property, get a mortgage agreement in principle. This tells you exactly how much you can borrow and signals to sellers that you’re a serious buyer.

• Check your credit score across all three bureaus
• Save at least 5–10% of the property value as a deposit
• Budget for stamp duty, legal fees, surveys and moving costs (typically 5–8% on top of the price)

2. Choose the right location, not just the right property

A perfect apartment in a poor location is rarely a good investment. Look at:

• Commute times to work, schools and family
• Planned infrastructure (crossrail extensions, new metro lines, motorway upgrades)
• Local crime statistics and flood risk
• Council tax bands and service charges

“Buy the worst house on the best street.” — A century-old adage that’s still true.

3. Work with one trusted agent

Find an agent who knows the area inside-out. They will:

1. Pre-vet properties before you visit
2. Tell you off-market opportunities
3. Negotiate harder on your behalf
4. Guide you through the legal process

4. Don’t skip the survey

A professional survey costs £400–£900 and can save you tens of thousands. The three main types are:

• Home condition report — basic, suitable for new-builds
• Homebuyer report — most common, mid-level detail
• Full building survey — for older, unusual or large properties

5. Think long-term, not just move-in day

A home you love today should still work in five years. Will your family grow? Will the commute still make sense? Are there enough bedrooms and bathrooms for resale value?

6. Negotiate, but be realistic

The asking price is rarely the final price. In a buyer’s market you might get 5–10% off. In a seller’s market, you may need to offer at or above asking to compete.

7. Understand the legal process

Conveyancing typically takes 8–12 weeks. Your solicitor will:

• Run local authority searches
• Review the title deeds
• Handle the contract exchange
• Transfer the funds on completion day

8. Plan for ongoing costs

Buying is just the start. Budget for:

• Mortgage repayments
• Buildings and contents insurance
• Maintenance and repairs (1% of property value per year is a good rule)
• Service charges and ground rent (if applicable)

9. Don’t make emotional decisions

A property is an investment as much as a home. Walk away from a bad deal, even if you’ve already mentally moved in. There will always be other properties.

10. Trust the process

It can feel slow and frustrating. That’s normal. Stay focused on your criteria, ask questions, and don’t be afraid to walk away from a property that doesn’t tick the boxes.

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Buying a home is a marathon, not a sprint. The more preparation you do up front, the smoother the journey will be. Good luck, and happy house-hunting!