Credit scores, legal fees, hundreds of forms to sign – buying your first property can be complicated stuff. But once you’re settled into your new home (Jo Malone candles and all), it’s safe to say it makes the hard work totally worth it.
According to the Office for National Statistics, in 2021 the average house price in England jumped up to £275,000. Processes aside, if you’ve managed to get this far, you deserve a huge pat on the back. That’s without all of the added extras that come before you’ve even managed to squeeze in your first IKEA trip to furnish your new pad and make it feel like home.
We spoke to three first-time buyers who told us the advice they wish they’d been given to help them prepare before they went ahead and secured the purchase, plus why it was all totally worth it…
Ellie: “Communication is key”
“I bought a house during the pandemic and I didn’t realise that estate agents required proof of mortgage before you even get round to viewing. Because I had a higher deposit too, I had to do some extra due diligence, like showing the actual figure in my bank balance. It’s worth being prepared for that.
“It was also challenging to arrange viewings during this time as I was viewing smaller homes meaning the owners weren’t allowed to be in the property at the same time! Luckily, once I got through the process, I was able to see some great places I could see myself living in.”
“I wish I’d known I’d be dealing with both the solicitor and the house vendor. I bought through an online estate agent so I had contact with the vendor directly, so be prepared for a lot of texts!
“Personally, my mortgage process was surprisingly very easy – it was the legal side which wasn’t as much of a walk in the park. I didn’t understand the ins and outs (which is why you pay a solicitor) and ended up having a few awkward calls with the vendor trying to get her to just deal with my solicitor… In the end I learned that though the communication can be challenging or unexpected, it’s a key element of the process”
“Honestly the feeling of having my own home (and actually owning it!) was unreal. It’s amazing and definitely felt worth the effort.”
Using NatWest’s mortgage calculator, you can find out how much you could borrow before you start looking for your perfect property.
Holly: “Find solutions to problems early on”
“When we began the process of buying, the housing development sales officers recommended that we do the Help to Buy scheme. After researching this thoroughly, we decided this wasn’t the right solution for us. I feel that without doing our own research we could have easily been persuaded into something that wasn’t the right option for us.
“We specifically bought a new-build house with the vision that we wouldn’t have to do anything to it and we could start with a blank canvas. But I wish that I had known more about ‘snagging’ (where you go round and find any problems inside or outside the house) as that became one of the most important parts of buying our house. Luckily, it’s nothing that we can’t fix! Finding solutions is key, so keep a flexible mindset.”
“As well as saving money for the deposit, we also saved money to move in with. One thing I would recommend is buying things like a sofa or mattress before you are even considering putting an offer in for a house, that way it’s not all coming out at once.
“The first night we moved in and went to bed was when the excitement kicked in. It was a strange feeling that when I had finished work, instead of driving back to my parents’ house, I was going to my own home. That was seriously special!”
“The hardest part was waiting once we had signed everything. Though it’s easy to be impatient, once you get the keys, the feeling of owning your own house is obviously amazing!”
If your deposit amount is on the smaller side, a 95% mortgage could be a great option for you. Find if you’re eligible here.
Isabella: “The work never ends – but the result is worth it”
“I bought my first flat in March, and whilst it was such a valuable experience, I wish somebody had told me just how much there is to do when you own a home.
“While I was waiting for my completion date (where I got my keys), there was relatively little to do aside from getting insurance and sending my savings over to my solicitors. But after that, my to-do list got much bigger. I had to measure so I could order all my furniture, get contents insurance, change the address on my car tax and driving license, get quotes for curtains, screw hooks into walls, and figure out how to level out a fridge, all by myself. That’s before you even get started on the upkeep it takes to keep a home clean and tidy – I have a newfound respect for my parents!
“I knew moving into my own place would be a lot of work, which is why I deliberately picked a flat that didn’t need renovating – I think buying with a friend, partner or family member gives the emotional support you need here. But even so, I underestimated how much of my time it would take.
“My advice to others is to go easy on yourself, you’ve just done something big! It’s OK for that to be your focus for a while, because the comfort of being in your own space with nobody to answer to is unbeatable. The boost it’s given to my mental health is incredible.”
Ready to save for your first home? Here’s a handy guide to what you need to do, and when, to be in the best possible position:
Find out more about taking the leap and getting into your first home with NatWest
95% Mortgages – Exclusions & eligibility criteria apply. Supported by the UK governments mortgage guarantee scheme
Your home may be repossessed if you do not keep up repayments on your mortgage
