A First-Time Buyer's Guide to Purchasing a House

Buying your first home is a significant milestone and an exciting journey, but it can also be daunting. This guide will help you navigate the process, from saving for a deposit to moving into your new home.

 1. Saving for a Deposit
The first step to buying a house is saving for a deposit. Typically, you'll need at least 5% to 20% of the property's value. The larger your deposit, the better mortgage deals you'll likely secure. Consider opening a Lifetime ISA (LISA), which allows you to save up to £4,000 a year with a 25% government bonus.
2. Understanding Your Budget
Before you start house hunting, it's crucial to understand how much you can afford. This includes not only the deposit but also the mortgage repayments, property taxes, insurance, and maintenance costs. Use online mortgage calculators to get an idea of your potential monthly repayments. 
3. Getting a Mortgage Agreement in Principle
A Mortgage Agreement in Principle (AIP) is a statement from a lender indicating how much they might lend you. It's not a guarantee but shows sellers that you're a serious buyer. To get an AIP, you'll need proof of income, identification, and details of any debts.  4. House Hunting
With your budget and AIP in hand, you can start looking for your new home. Consider what's important to you—location, size, amenities, and transport links. 
5. Viewing Properties
When viewing properties, take your time to inspect them thoroughly. Check for signs of damp, the condition of the roof, and the state of the windows and doors. Don't be afraid to ask questions about the property's history and the local area. 
6. Making an Offer
Once you've found the right house, it's time to make an offer. Your estate agent will handle this. Be prepared to negotiate, and remember that the initial offer is often not the final price. If your offer is accepted, you'll need to arrange a solicitor or conveyancer to handle the legal aspects.
7. Arranging a Mortgage With an accepted offer, you need to finalize your mortgage. Submit a full application to your chosen lender, who will conduct a valuation of the property to ensure it's worth the amount you've agreed to pay. 
8. Conducting Surveys A property survey is crucial to identify any potential issues. The most common types are:
- Condition Report: The most basic and least expensive.
- Home buyer Report: More detailed, including advice on repairs.
- Building Survey: The most comprehensive, suitable for older or unusual properties.
9. Exchanging Contracts
Once your solicitor is satisfied with the legal checks and your mortgage is approved, you can exchange contracts with the seller. At this point, you'll pay your deposit, and the sale becomes legally binding.
10. Completion
Completion usually occurs a few weeks after exchanging contracts. On completion day, the rest of the purchase price is transferred, and you get the keys to your new home.
11. Moving In
Congratulations! It's time to move into your new home. Arrange for movers, update your address with important institutions, and consider getting home insurance if you haven't already.
12. Post-Move Checklist
- Unpack (or let us) and organize your belongings.
- Familiarize yourself with the local area.
- Set up utilities and internet services.
- Meet your neighbors and enjoy your new home!

Buying a house for the first time can be complex, but with careful planning and the right support, you'll soon be settled into your new home. Happy house hunting!