Buying your first home: a step-by-step guide

By Chris Pollitt · Last checked 6 November 2026 · 3 min read

Buying your first home feels like a mountain of paperwork, but it breaks down into a fairly predictable set of steps. Knowing them in advance means fewer surprises, and fewer moments where you're waiting on something you could have sorted weeks earlier.

1. Work out what you can really spend

Your budget is your deposit plus the amount a lender will offer, minus the costs of buying. Most lenders will lend around four to four and a half times household income, though the exact figure depends on your outgoings, debts and credit history. A bigger deposit doesn't just mean a smaller loan. It can move you into a cheaper rate band, because rates usually improve at 90%, 85%, 75% and 60% loan-to-value.

Then take off the costs. Solicitor's fees, searches, a survey, removals and any mortgage fees can easily add up to a few thousand pounds. In England, first-time buyers pay no stamp duty on the first £300,000 of a purchase up to £500,000. In Wales there's no special first-time buyer relief, but Land Transaction Tax only starts above £225,000.

2. Get a mortgage in principle

An agreement in principle is a lender's statement of how much it would probably lend you, based on a quick credit check. It takes minutes online or through a broker, and most estate agents will ask for one before they put your offer to a seller. It isn't a guarantee, but it shows you're serious.

Before you apply, check your credit file with one of the free services, make sure you're on the electoral roll at your current address, and avoid taking out new credit. Small things like a missed phone bill can make a difference.

3. Research areas before you search for homes

It's tempting to jump straight onto the property portals, but deciding where you want to live first saves a lot of wasted viewings. Look at what homes have actually sold for on the streets you like, not just the asking prices. Check commute times at rush hour, schools if they matter to you, broadband, flood risk and council tax. Our guide to researching an area goes through it in more detail.

4. Viewings and making an offer

Go to viewings with a checklist, and go back a second time before you offer, ideally at a different time of day. When you find the one, compare the asking price with recent sales of similar homes nearby. That gives you a sensible basis for your offer. See how to make an offer for the details.

Once your offer is accepted, ask the agent to take the property off the market. They don't have to, but many will if you can show you're ready to move quickly.

5. Instruct a conveyancer and apply for your mortgage

A conveyancer or solicitor handles the legal side: checking the title, running searches, raising questions with the seller's side and transferring the money. Get two or three quotes and check what's included, because some leave out search fees or charge extra for leasehold work.

At the same time, submit your full mortgage application. The lender will arrange a valuation, which is for its benefit, not yours. It only checks the home is worth the loan.

6. Get a survey

A survey is separate from the lender's valuation and tells you about the condition of the home. For most first-time buyers a RICS Level 2 survey is a good balance of cost and detail. Older or altered homes may justify a Level 3. Our guide to choosing a survey explains the difference.

7. Exchange and completion

When the searches are back, the questions answered and your mortgage offer is through, you'll sign the contract and pay the deposit. Exchange of contracts is the point where both sides are legally committed. Completion, when the money moves and you get the keys, usually follows a week or two later, though it can be the same day.

From offer accepted to keys in hand typically takes three to five months. It can be quicker with no chain, and slower with a leasehold flat or a long chain.

A few things first-time buyers often miss

• Buildings insurance usually needs to be in place from exchange, not completion.
• Lifetime ISA savers must give their conveyancer time to request the bonus, and the price limit is £450,000.
• Leasehold flats come with ground rent and service charges, and the length of the lease matters. See our guide to leasehold.
• A buffer of a few thousand pounds for the first months, because something always needs doing.