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Are you thinking about getting your foot on the property ladder? Before you jump in blind, make sure you study this handy guide all about choosing your first home!
As a 20-something-year-old living with her parents, I’ve been longing to move into my first home for years. Who doesn’t want the freedom to decorate their own space?
But there’s just one problem – choosing a property isn’t as straightforward as people make it out to be. In fact, for most people, it’s highly stress-inducing.
So, if you’re in the same position, consider this blog your ultimate guide for choosing your first home in the UK!
How to Know You’re Ready to Move Into Your First Home
Sometimes, we get so tangled up in the idea of something that we forget to consider the practicalities (guilty!) before we jump straight in. Can you relate?
But moving into your first home isn’t something you want to rush and regret. Make sure you move at your own pace, and don’t let society’s expectations force to flee the nest prematurely. Living alone (or with a partner) is tough, expensive, and you’ll have a million and one responsibilities at all times.
Here are some things to consider:
1. Are You Financially Independent?
There’s no way you’re ready to move into your first home if you don’t have the means to support yourself.
Of course, you likely have the down payment (aka deposit) secured, but that’s literally only a tiny percentage of the money you’ll need when you move out.
You must be able to pay off your rent or mortgage, as well as have a good chunk of money in reserve. This will cover regular bills like gas and electric, food, unexpected maintenance, and anything else you might need to pay towards your home.
2. Are You Ready to Be Self-Reliant?
Whether you’re moving in with your besties, your partner, or on your own, you’ll no doubt be hit with a monumental reality check from the moment you collect the keys.
YOU’RE NOW RIDING COMPLETELY SOLO. It’s time to enter your *responsible adult era*.
Before you know it, you’ll be making important decisions and choices that only you are responsible for. Are you ready?
3. Are You Craving Personal Space?
If you’re anything like us, the thought of moving into your first home has you making a gazillion Pinterest boards overflowing with decor inspo.
Although personal space means way more than that. It’s about having the freedom to live on your terms and soak up a little privacy in your own sacred haven. But if being alone a lot isn’t something you enjoy, maybe you’re not quite as ready as you thought to move into your first home.
So, now you’ve (hopefully) figured out whether you’re actually ready to flee the nest, let’s finally get down to what you’re really here for:
How to Choose Your Perfect(ish) First Home
First thing’s first, you should bear in mind that nobody’s first home is *perfect*. Whether it’s the location, the layout, the decor, or otherwise, you’ll likely find yourself saying “that’s not what I want”.
BUT, like a lot of things in life, you have to make a compromise somewhere. So, here are some things to consider (apart from your budget, duh) when searching the market.
1. How Many People Will Live There?
This is definitely the first thing you should consider – waaaay before you even begin your search for the perfect property. Think about it: if you’re moving in with 3 other people, your requirements will be totally different from if you were moving alone.
You’ll need more bedrooms, bathrooms, a bigger living area, multiple parking spaces. Which leads us onto the next thing to think about…
2. How Much Space Do You Realistically Need?
Since you’ll be paying a lot more for a bigger space, you need to get real. Don’t be greedy. For example, if you’re living alone, is it necessary to have more than one bedroom?
The answer may be yes if you’re a fellow WFH devotee, or if you plan on inviting friends and family to stay regular. Otherwise, you can assume this extra room (and extra £££ per month) will simply just drain your wallet.
3. Do You Have Any Animals?
Typically, a lot of rental spaces will not allow pets of any kind *eye roll*. So, if your clan comprises a tribe of four-legged (or two-legged) friends, finding a rental property might be off the cards entirely.
Which means you’ll likely have to enter the gloriously confusing, frustrating, and painful world of mortgages. Buckle up.
4. Is Location Super Important to You?
In any city, in pretty much every country, properties vary depending on the exact location. Some areas you may pay more for a high-spec property and get less square footage for your money.
Others you may pay less for a lower-spec property but gain a lot more in square footage. Psst… this could be the ideal opportunity to implement some first home improvements. The trick is to figure out what really matters to you.
You should also consider these important questions:
- How close is the property to your work?
- Do you want to be near to friends and family?
- Is city living or country living preferable to you?
- Do you drive? Or are you prepared to travel in another way?
- Are you looking for a property with ample outdoor space?
5. How Long Do You Plan on Living There?
Many first time home buyers only plan on living in a home for a couple years. So, a smaller, cheaper property is ideal. But if you know you want to be there for the long haul, you’ll likely have slightly different priorities.
For instance, you might want to start a family in the future, meaning you’ll potentially want more rooms and a secluded outdoor space.
6. Are You Really Willing to Make a Compromise?
Sometimes, the *perfect* property will come onto the market and you think “BINGO”.
You book a viewing slot, but it’s not all as it seems compared to the estate agent photos.
It could be that it’s on a busy, noisy road, or the garden is way smaller than you thought. Perhaps the entire house is exactly what you need, but it’s miles out of the location range you initially wanted. If it ticks most of your boxes, maybe it’s time to let those other things slide.
Apartment VS House: Which is Better for Your First Home?
For us, this has long been a topic of conversation and for good reason. So, through our own property searches and what we already know about properties, we’ve aired the pros and cons of living in both apartments and houses.
Pros of Living in an Apartment
- Less maintenance (no garden to tend to yourself)
- Usually in a central location
- Cheaper to buy and rent
- Facilities on site, such as a gym, rooftop space, or concierge
- Potentially superb views of the city
- Safe and secure
Cons of Living in an Apartment
- Very little outdoor space
- Limited storage such as closets and cupboards
- Noisy neighbours above, below, or on either side
- Additional costs for general building maintenance
- Rules and regulations specific to your building
- Few parking spaces
Pros of Living in a House
- You’ll likely have a decent outdoor area
- You make the rules – music to your animal’s ears
- You’ll likely have a driveway to park cars
- Bigger rooms and more storage spaces
- Suburban or rural location
Cons of Living in a House
- More maintenance such as cleaning and gardening
- Less secure when unoccupied
- More expensive to buy or rent
- Suburban or rural location
Renovation: Is it a Good Option for Your First Home?
Also known as refurbishing, modernising, flipping, or remodelling, renovating is a fab way to create the home of your dreams (with a side serving of constant stress).
Just kidding.
If you truly know your vision and have a lot of money set aside to bring it to life, a renovation property is a great option for your first home. Something like this first home organiser would be super helpful to keep track of to-do lists, compare tradespeople quotes, and log all reno costs.
And we definitely recommend getting your hands dirty for the smaller, more manageable jobs. It’s all about saving money where you can, especially as most people don’t have that much spare cash when moving into their first home.
Our #1 Tip For Choosing Your First Home
IGNORE. THE. DECOR. Nope, we can’t believe we’re saying that either. Normally, decor is all we think about.
But when you’re choosing your first home, it’s way more about getting the foundations right (especially if you’re considering buying an older property).
So, ignore the ugly flower-power carpets, obnoxious wall paint, and most importantly, don’t focus at all on the current owner’s choice of furniture. They can all be changed, giving you a chance to put your unique stamp on your home.
Simply view the place as a complete blank canvas. Concentrate on the layout, the size of the rooms, and whether there’s potential to add-on or expand (even if you don’t want this right now, you may one day).
Well on the way to owning your first property? Our first time home buyer’s guide will be your holy grail in the weeks and months leading up to the big move. Inside, you can find everything from the ultimate first home checklist to budget sheets, packing tips, and product comparison tools for all your first home essentials!