Buying your first home is exciting, but it can also feel overwhelming. From deposits and mortgages to viewings and legal paperwork, it’s normal to wonder where to start.
At Bowdens, we work with first-time buyers across Cambourne and the surrounding villages every week, and we’ve put together this simple guide to help you feel confident and prepared.
1. Work Out Your Budget
Before you start browsing properties, it’s important to understand what you can realistically afford.
Things to consider include:
- Your deposit (typically 5–10% of the purchase price)
- Mortgage affordability based on your income and outgoings
- Monthly running costs such as council tax, utilities, and insurance
Top tip: Speak to a mortgage advisor early. They can give you a clear idea of your budget and explain any first-time buyer schemes you may be eligible for.
2. Get a Mortgage Agreement in Principle
A Mortgage Agreement in Principle confirms how much a lender is likely to lend you.
This is important because:
- It shows sellers you are serious
- It can strengthen your offer
- It allows you to move quickly when the right property comes along
Most estate agents, including us, will ask for this before arranging viewings.
3. Understand the Additional Costs
Buying a home involves more than just the purchase price, so it’s important to plan ahead.
Additional costs may include:
- Solicitor or conveyancing fees
- Survey costs
- Mortgage arrangement fees
- Moving costs
- Stamp Duty (many first-time buyers pay reduced or no Stamp Duty depending on the purchase price)
We are always transparent about likely costs to help you avoid any surprises.
4. Start Viewing Properties
This is often the most enjoyable part of the process.
When viewing homes, try to look beyond décor and consider:
- Whether the location suits your lifestyle
- Parking availability
- The condition of key items such as the boiler, roof, and windows
- Whether the property is leasehold and if there are service charges
Never be afraid to ask questions — that is exactly what we are here for.
5. Make an Offer
Once you have found the right property, the next step is making an offer.
We will help you:
- Decide on a sensible offer based on the local market
- Understand the seller’s position
- Present your offer in the strongest possible way
Negotiation can feel daunting, but we guide you through every step.
6. Appoint a Solicitor and Arrange Your Survey
After your offer is accepted, you will need to:
- Instruct a conveyancing solicitor
- Submit your full mortgage application
- Arrange a property survey for peace of mind
Surveys can highlight potential issues early, helping you make informed decisions.
7. Exchange Contracts and Complete
This is the final stage of the process.
- Exchange of contracts makes the purchase legally binding
- Completion day is when you receive the keys and officially move into your new home
You should be kept informed throughout so you always know what is happening.
Thinking of Buying Your First Home?
If you are a first-time buyer and would like:
- Help understanding your budget
- Advice on available properties
- A no-obligation chat about your next steps
Call Bowdens on 01954 710 700
Email [email protected]
We would love to help you take your first step onto the property ladder.