Buying your first home is an exciting milestone, but knowing where to begin can feel overwhelming. From saving for a deposit and understanding mortgages to finding the right property and completing the legal paperwork, there are several important steps to consider.
For first time buyers, understanding the process before starting a property search can make purchasing a home much easier. With the right preparation and guidance, taking that first step onto the property ladder may be more achievable than you think.
If you're planning to buy your first house, this guide explains what you need to know, how to prepare financially, and how housebuilders such as Kingswood Homes can help you find a property that suits your needs.
Step 1: Work Out How Much You Can Afford
Before searching for your first home, it's important to understand your budget. This means looking beyond the property's asking price and considering how much you can comfortably afford to pay each month.
Start by reviewing your income, savings, existing financial commitments, and regular household expenses. Mortgage lenders will consider these factors when assessing how much they may be willing to lend you.
You'll also need to save for a deposit. Many first-time buyers aim for a deposit of between 5% and 10% of the property's purchase price, although requirements vary depending on the lender and mortgage product.
For example, if you're looking at a home costing £250,000, a 5% deposit would be £12,500, whilst a 10% deposit would be £25,000.
Remember to allow for additional expenses, including solicitor fees, mortgage fees, surveys, insurance, and moving costs. Planning for these early can help you avoid unexpected financial pressure later in the buying process.
Step 2: Understand Your Mortgage Options
Once you have an idea of your budget, the next step is understanding your mortgage options.
A mortgage is a loan used to purchase a property, which you repay through monthly payments over an agreed period. The amount you can borrow will depend on your income, financial circumstances, credit history, and the lender's affordability assessment.
Speaking with an independent mortgage adviser can help you understand the different products available and identify options suited to your circumstances.
It's also worth obtaining a Mortgage Agreement in Principle (AIP). This provides an estimate of how much a lender might be willing to offer, giving you a clearer indication of your potential property budget.
An AIP isn't a guaranteed mortgage offer, but it can help you approach your first property search with greater confidence.
Step 3: Find Out What Support Is Available for First-Time Buyers
Saving enough money for your first home can be one of the biggest challenges, particularly whilst paying rent and managing everyday living costs.
Fortunately, there are several forms of support worth investigating.
For example, a Lifetime ISA allows eligible savers to contribute up to £4,000 each tax year and receive a 25% government bonus. The savings can be used towards an eligible first home, provided the relevant account, property price, and purchase requirements are met.
First-time buyers purchasing a qualifying property in England may also benefit from Stamp Duty Land Tax relief. Under the rules applying in November 2026, eligible buyers pay no stamp duty on the first £300,000 of a property costing up to £500,000, with 5% payable on the portion above £300,000.
Could the New 'Your First Home' Scheme Help?
In October 2026, the government announced details of its new Your First Home scheme, intended to help eligible first-time buyers purchase a new-build property in England.
Under the proposed scheme, qualifying buyers could purchase a home using a deposit of at least 2.5%, a repayment mortgage from a participating lender, and a government equity loan covering 20% of the purchase price.
The equity loan would be interest-free for the first five years, although interest charges would apply afterwards. The amount repayable would also be linked to the property's value.
The scheme is expected to open for applications in February 2027, with full eligibility requirements and participating developers still to be confirmed.
Kingswood Homes has created check here a dedicated information page first home for read more anyone interested in the scheme. Those considering your first Kingswood home can register their interest to receive further updates as information becomes available.
Registering interest does not constitute a government scheme application or guarantee eligibility.
Step 4: Start Searching for Your First House
With your finances in order, you can begin searching for a property that meets your requirements.
Think carefully about the location, number of bedrooms, outdoor areas, transport links, and local amenities. Consider how your circumstances might change over the next few years, particularly if you're planning to start a family or work from home.
It's also important to decide whether you'd prefer an existing property or a new-build home.
New-build properties can be particularly appealing to first-time buyers because they're built to modern construction and energy-efficiency standards. With brand-new fixtures and fittings, buyers may also face fewer immediate maintenance concerns compared with purchasing an older property.
Housebuilders such as Kingswood Homes offer a range of new-build properties, with options to personalise selected layouts and finishes.
Visiting a show home can help you understand the available house types, room sizes, and specifications before making a decision.
Step 5: Reserve Your Home and Appoint a Solicitor
Once you've found your first home, the next step is to secure the property and begin the legal process.
If you're purchasing a new-build home, this will usually involve paying a reservation fee to the developer. The amount, reservation period, and refund conditions should be explained before you make a commitment.
Kingswood Homes currently states a £1,000 reservation fee and a six-week reservation period, during which buyers work through the necessary mortgage and legal arrangements.
You'll also need to appoint a solicitor or licensed conveyancer to manage the legal aspects of your purchase.
Their responsibilities include reviewing contracts, carrying out property searches, checking legal documents, and arranging the transfer of ownership.
Choosing a solicitor with experience in new-build purchases can be particularly helpful, as the process may involve additional documentation and requirements relating to the development.
Step 6: Exchange Contracts and Prepare for Completion
Once your mortgage has been formally approved and the necessary legal checks are complete, you'll move to exchanging contracts.
This is the stage when the purchase becomes legally binding. Your solicitor will explain the deposit payment arrangements, contractual obligations, and expected completion process.
If you're buying a property that's still under construction, you may need to wait until the building work is finished before moving in.
During this period, it's important to maintain contact with your solicitor and the developer so you understand any changes to the expected completion date.
You can also begin preparing for moving day by arranging household insurance, organising furniture, and planning utility connections.
When completion takes place, the remaining purchase funds are transferred and you'll finally receive the keys to your first home.
Why Consider a New-Build Home with Kingswood Homes?
Choosing the right property developer is an important part of purchasing your first house.
For those interested in a new-build property, Kingswood Homes provides several features that may appeal to first-time buyers, including modern homes, energy-efficient designs, and opportunities to personalise selected aspects of the property.
Its Shape Your Home concept allows buyers to choose from different floor plan arrangements on eligible house types, helping them select a layout that works for their lifestyle.
Kingswood Homes also provides information about the buying process, mortgage options, and available support, helping customers understand what to expect at each stage.
For anyone buying their first home, having access to clear information and an experienced sales team can make the process feel more manageable.