Introduction

If you’re buying your first property, it can feel overwhelming. This guide covers five key things to consider so you make smarter decisions, minimize risk, and set yourself up for success.

1. Understand Your Financial Situation

Before looking at properties, get clarity on your finances:

• Know your available funds for deposit and fees.
• Keep a buffer for repairs, furnishings, or unexpected costs.
• Include mortgage fees, stamp duty, and solicitor costs in your budget.
• Ensure you can comfortably cover mortgage payments once you move in or rent out the property.

2. Mortgage Pre-Approval

Getting a Decision in Principle (DIP) or pre-approval from a lender helps:

• Show sellers you are a serious buyer.
• Get estate agents to prioritise your offer.
• Reduce the risk of a deal falling through later.

This provides confidence that you can fund the property purchase once a suitable property is found.

3. Do Your Market Research

• Assess historical and current property price trends (Capital Growth).
• Check rental yields to understand potential income.
• Research different areas: some locations have higher growth, others higher rental yield.

Past performance is not a guarantee, but it provides useful context for decision-making.

4. Choosing the Right Location

• For rental properties, proximity to train stations, workplaces, schools, and shopping areas is important.
• Check local crime rates and safety — critical if living in the property or for tenant attraction.
• Good location supports strong tenant demand and long-term property value.

5. Build a Good Relationship with Your Estate Agent

• Do your due diligence: research the agent''s reputation and read reviews online.
• Communicate clearly and regularly — show you are serious about buying.
• Moving quickly can put you in the agent''s “good books” and improve your chances of securing the property.

A positive relationship ensures smoother negotiations and helps prevent issues during the purchase process.

Next Steps & Resources

If you are ready to take action:

• Book a 1-hour strategy call for personalised advice.
• Use spreadsheets to map your finances and calculate mortgage affordability.
• Start looking at pre-approval from lenders to be ready for offers.

Tip: Keep a checklist for each property and make sure all five steps are considered before making your first purchase.