First-Time Buyer Checklist: Everything You Need to Do

Buying your first home is one of the most complicated things most people ever do — partly because nobody gives you a clear list of what to actually do, in what order. Here it is.

1. Work out what you can afford

Before you look at a single property, get a realistic picture of your budget. As a rough guide, most lenders will offer you 4–4.5 times your annual income. A household earning £60,000 can typically borrow around £240,000–£270,000. Add your deposit to get your maximum purchase price.

Don’t forget the costs on top — stamp duty, conveyancing, surveys, moving costs. These can add £3,000–£10,000+ to your total outlay, depending on the property price.

2. Save your deposit

The minimum deposit most lenders accept is 5% of the purchase price. On a £250,000 property, that’s £12,500. A larger deposit (10% or more) unlocks better mortgage rates and gives you more lender options.

If you haven’t already, open a Lifetime ISA — you can save up to £4,000 per year and the government adds a 25% bonus (up to £1,000 per year) on money used towards a first home. You need to be under 40 to open one.

3. Get an offer in principle

Before you start making offers, get a mortgage in principle (also called an offer in principle or agreement in principle) from a lender or broker. It takes 15–30 minutes, involves a soft credit check, and tells you how much a lender is willing to offer you in principle. Most sellers won’t take your offer seriously without one.

4. Find a conveyancer before you need one

Most buyers leave this until after their offer is accepted. Don’t. Research conveyancers early, get quotes, and have one ready to instruct the day your offer is accepted. Every day you wait is a day added to the process.

5. Start your search

Browse on Rightmove, Zoopla, or platforms like Woosh. Set up alerts for the areas, price range, and property type you’re looking for. Be clear on what’s non-negotiable (number of bedrooms, garden, parking) and what’s a nice-to-have.

6. View properties — and ask the right questions

When you view, don’t just look at the décor. Check the boiler age, when the roof was last replaced, whether there’s any damp or subsidence, what the EPC rating is, and what’s included in the sale. Ask why the seller is moving and how long the property has been on the market — these tell you a lot.

7. Make an offer

When you’ve found the right property, make an offer. It doesn’t have to be the asking price — research recent sold prices in the area to calibrate what’s reasonable. If you’re offering below asking price, have a reason ready (time on market, survey risk, chain-free position).

Once your offer is accepted, it’s not legally binding until contracts exchange. Either side can still walk away — but it’s bad form and can have practical consequences, so don’t offer on properties you’re not genuinely committed to.

8. Instruct your conveyancer

Do this the day your offer is accepted. Give them the property address, the seller’s conveyancer details (your estate agent will have these), and your mortgage lender’s details.

9. Apply for your mortgage

Move quickly from offer in principle to full mortgage application. Your lender will carry out a valuation of the property as part of the application. Once satisfied, they’ll issue a formal mortgage offer — usually valid for 3–6 months.

10. Book a survey

A mortgage valuation is not a survey. It’s done for the lender’s benefit, not yours. If you want to know the actual condition of the property — and you should — commission your own survey. A Homebuyer Report costs around £400–£700. A full structural survey for older or unusual properties costs more but can save you thousands.

11. Review searches and enquiries

Your conveyancer will carry out local authority searches and raise enquiries with the seller’s conveyancer. Read these carefully when they come back — they contain useful information about the property and the local area. Flag anything you’re unsure about.

12. Exchange contracts

Once searches are clear, your mortgage offer is issued, and all enquiries are resolved, you can exchange contracts. This is when the sale becomes legally binding and you pay your deposit (typically 10%). A completion date is set at exchange.

13. Completion day

On completion day, the remaining mortgage funds are transferred, and ownership passes to you. Your conveyancer will call you when it’s done. Then you collect the keys — usually from the estate agent.

14. Register as the new owner

Your conveyancer handles this. They’ll register you at the Land Registry and pay any stamp duty owed on your behalf. As a first-time buyer, you benefit from stamp duty relief — no stamp duty on properties up to £300,000, and a reduced rate up to £500,000.

On Woosh

Woosh brings together the buying process — property search, offer management, conveyancing connections, and transaction tracking — in one place. So instead of chasing five different people for updates, you can see exactly where everything is.

Start your search at wooshproperty.com