As well as an exciting experience, purchasing your first home can be quite stressful. So the buzzvault team has compiled some handy advice to help make your first step onto the property ladder a successful one.

1. Know your hidden costs

It’s quite easy look at the price of a property and completely forget about all the other costs. The costs of solicitors, estate agencies, conveyancers, stamp duty (if the home is worth more than £125,000), furnishing and decoration, and many other factors needs to be taken into account when budgeting for your property.

2. Start saving for a deposit ASAP

Before you start looking at properties, it’s important that you save for a deposit. A typical deposit ranges from 5% to 20% of the property’s value. This means that if your home is valued at £200,000, for example, it’s likely that you’ll need between £10,000 and £40,000 as a deposit.

3. Make sure that you can afford your monthly mortgage repayments

Chances are, you’ll be living with the mortgage for a long time, so you need to find out how much you can borrow before going on the house hunt. Thankfully, there are quite a few affordability calculators online, which can really help with this step. Be sure to check out the buzzvault guide to getting a mortgage as well!

4. Have a realistic purchase in mind

Unless you are incredibly lucky, it’s unlikely that your first foray into the property market will result in your dream home. Quite simply, getting on the first rung of the property ladder normally requires a certain degree of compromise. Given this, it’s a good idea to draw up a list of all the things you consider essential in a property, and look for homes that best match this criteria whilst sticking to your budget.

5. Don’t make decisions based on first impressions

Before committing to a property, it is important that you have a good knowledge of the surrounding area. Visit at different times of day, visit the local sights, pubs, restaurants etc. Get a feel and understanding of the area so that you can make a reasoned choice.

6. Move in the Smarter Way

Congrats! You have purchased your first property… now you just need to move all of your stuff in! Check out our moving house checklist for useful tips on preparing for moving day and getting yourself set up with a trusted removals partner.