6 First-Time Buyer Mistakes to Avoid
Buying your first property is one of life’s biggest milestones, but it can also be overwhelming. With rising house prices, ever-shifting mortgage requirements, and buyer expectations evolving, stepping onto the property ladder in 2025 requires more preparation than ever.
Many first-time buyers fall into common traps, from underestimating hidden costs and overextending their budgets to overlooking the importance of location and resale value. Here are 6 first-time buyer mistakes to avoid.
1. Underestimating the True Cost of Buying
As a first-time buyer you’d be forgiven for thinking that the cost of buying your first home is the asking price of a property, however homeownership comes with hidden costs, and getting your foot on the first rung of the property ladder can be more expensive than you think.
Here are a few hidden ‘extras’ you’ll need to budget for:
Conveyancing (solicitor’s) fees
A homebuyers survey (also known as a ‘house report) on your new home
Removals services
New furniture
Any painting, decorating, renovating or repair required in your new home
Buildings and contents insurance
Savings for maintenance and repair of the property
2. Stretching Your Budget Too Far
Speaking of budget, another mistake many first-time buyers make is going over theirs! Before you start searching for your dream home, it’s important to know what you can realistically afford.
Using an online mortgage calculator will give you a rough idea of what you might be able to borrow, but before you book any viewings, make sure you have a mortgage in principle in place from your preferred lender.
It can be tempting to view properties that are slightly over budget, but you need to be realistic about the chances of being able to haggle the seller down to a price you can afford, and be willing to walk away if they won’t budge.
3. Overlooking Location
Location should be at the forefront of any property search. Unless you’re planning to relocate your entire life there’s no point finding your dream home if it’s hundreds of miles away from your family, friends and job!
A property’s location also plays a significant role in its resale value. Homes in popular areas with great transport links, good schools and access to shops and healthcare will always be in demand.
While you might be planning to live in your first home for many years, you should still consider whether the property will be easy to sell should you ever want or need to move on.
4. Thinking Short-Term
Many first-time buyers fall into the trap of buying a property that suits them now without considering how it might meet their needs longer term.
Circumstances can change quickly, and you need to think about whether your property would still be suitable if you began working from home, had a baby or wanted to get a pet. If you have plans for the future, consider how your new home will adapt to your changing situation.
5. Not Exploring All Property Options
Some people set out on their property search with very fixed ideas, immediately ruling out any homes that don’t fit your strict criteria. For example, you may be set on owning a property with period features, overlooking the modern convenience of new build homes.
When searching for your first home, it’s important to explore all the property options available in your area, and keep an open mind. You can always narrow your search parameters as you go along, excluding properties that don’t work for your lifestyle and budget.
6. Skipping Professional Advice
Buying a house is often ranked as one of life’s biggest stressors, and yet so many first-time buyers assume that they have to do everything on their own, and as a result, find themselves on a steep and precarious learning curve!
Save yourself stress and bring in the experts when you need them. Whether it’s a mortgage broker to help you get the best possible deal for your circumstances, a property surveyor to ensure your new home is worth its asking price or a conveyancer to ensure the sale is legal, engaging experts can save you headaches, heartaches, and money.
