When you’re looking for your first home, it’s easy to get carried away, picturing a place of your own where you can paint the walls any colour you like and not worry about a landlord’s rules. 

At the same time, it can be stressful when you start looking at house prices, deposits and all the costs you’ve never had to consider before. 

It’s easy to feel overwhelmed, but breaking things down into simple steps makes it more manageable.

Your budget

Work out how much you can put down as a deposit and how much you can afford each month for mortgage repayments. Be honest with yourself when it comes to spending and keep in mind future changes, such as higher bills or interest rates.

A lot of first-time buyers use a lifetime ISA to help save for their deposit. If you put in up to £4,000 a year, the government adds a 25% bonus. So, if you save the full amount, you get £1,000 extra for free. That extra money can push you closer to owning your place sooner.

Your credit score

Your credit score shows lenders how good you are at paying money back. A higher score usually means cheaper mortgage deals. A lower score doesn’t mean you can’t buy, but it can mean you’ll pay more each month.

You can improve your score with simple things, such as paying bills on time, and making sure you’re registered to vote. Some people with less than great credit files also consider credit cards for bad credit and pay it off in full each month. This shows lenders you can borrow and repay responsibly, which helps build trust.

Extra costs

It’s easy to think the deposit and mortgage are the only big costs, but there’s more. You’ll need to pay solicitor’s fees, moving costs, insurance and sometimes stamp duty.

One cost many people forget to factor in is a homebuyer survey , which checks for common problems like damp, dodgy wiring or roof issues. It might seem like an expense you could skip, but finding out about problems before you buy can save you a fortune.

Final thoughts

Buying your first home takes planning, but it isn’t impossible. If you follow these suggestions, you’ll feel much more confident when you make an offer. Your new home is where you’ll build your life, so it’s worth taking the time to get it right.