The most common mistake first-time buyers make is not choosing the wrong property. It is starting the search before they have answered the foundational questions.
The financial readiness questions
Do you know what you actually spend? Not what you think you spend — what you actually spend, tracked across three months.
What is your credit score, and why? Check free with Experian, Equifax, or TransUnion. Do not do this for the first time when you are about to apply for a mortgage.
Do you have a deposit target, and are you on track? Ten percent is the practical minimum. Knowing the number means you can calculate whether you are 8 months away or 3 years away.
Have you accounted for buying costs beyond the deposit? Stamp duty, solicitor fees (£1,500–£2,500), survey (£500–£1,500), moving costs add up to several thousand pounds over and above the deposit.
The lifestyle readiness questions
Are you likely to stay for at least three years? Buyers who move within two to three years often lose money in real terms after buying costs.
Have you agreed on what you are buying with everyone who will live there? Couples who have not had this conversation tend to waste significant time and emotional energy on viewings that one person will always veto.
Do you understand the areas you are considering? Not from Rightmove — in person, at different times of day and on a weekday as well as a weekend.
What readiness looks like in practice
Being ready to buy does not mean every box is ticked. Most first-time buyers are 12–18 months away from being ready when they first start thinking seriously about buying. Using that time well is the difference between a confident purchase and a stressful one.
Take the 5-question quiz to find out exactly where you are in your homebuying journey →