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Owning a home is a dream for many, but it can often feel like an uphill climb. With rising property prices and changing financial landscapes, how do you turn your dream of homeownership into a reality in 2025? Here’s a quick guide to help you take those first steps towards your own front door.

1. Set Your Budget

It all comes down to the money in the end, doesn’t it? Before you even begin searching for your perfect home, it’s essential to know what you can afford. Look at your savings and calculate what you can comfortably spend, factoring in all the extra costs. These might include:

  • Deposit: Often the biggest upfront cost.

  • Your Earnings: Be realistic here. Are they likely to fluctuate or change? Don’t stretch yourself too thin in case interest rates change.

  • Legal Fees: Solicitors and conveyancers aren’t cheap but are vital to the process.

  • Moving Expenses: Think removals, new furniture, or repairs.

Being realistic about your budget from the start will save you time and stress as you narrow down your options.

If saving for a large deposit feels out of reach, there are options. Shared ownership could be your solution! This government-backed scheme is designed to make buying more affordable. Here’s how it works:

  • Buy a Share: Start with as little as 25% of the property’s value (sometimes even less).

  • Rent the Rest: Pay rent on the remaining portion, usually to a housing association.

  • Staircase Over Time: Buy more shares as your finances improve, gradually increasing your ownership.

Shared ownership is ideal for those who want to step onto the property ladder without committing to a full purchase straight away.

2. Get Mortgage Ready

A mortgage is likely to be your biggest financial commitment, possibly ever, so it’s really important to be prepared:

  • Check Your Credit Score: A good score can open the door to better mortgage deals. If yours is less than ideal, research what you can do to improve it.

  • Explore Mortgage Options: Speak to lenders or brokers to see what’s available in your price range and with your financial situation.

  • Secure a Mortgage in Principle: This gives you an idea of what you can borrow and shows sellers you’re serious when it comes time to start viewing.

3. Start (or Continue!) Saving

Whether it’s for your deposit or unexpected expenses, building your savings pot is key. Every little bit counts, so make saving part of your monthly routine. Homeownership is not cheap and there are often things to pay that you can’t anticipate!

One great option is a Lifetime ISA (LISA). For first-time buyers, a Lifetime ISA can be a game-changer:

  • Save up to £4,000 per year, and the government will add a 25% bonus—that’s an extra £1,000 annually if you save the maximum amount.

  • Use the funds for a property worth up to £450,000, as long as it’s your first home.

If you decide not to buy, you can keep the savings for retirement after age 60. A LISA is a smart way to accelerate your deposit savings and make your dream home more attainable.

4. Research Research Research!

Where you live matters just as much as the home itself. Think about:

  • Proximity to work.

  • Local schools and transport links.

  • Nearby amenities like shops, parks, and healthcare.

A little research goes a long way in finding the right location that fits your lifestyle.

5. Speak to a Professional (nudge nudge…)

Navigating the housing market can feel overwhelming, especially as a first-time buyer. 

That’s where we come in! 

Our team can guide you through the process, helping you find a home that ticks all your boxes.

Let’s Make 2025 Your Year

Whether you’re a first-time buyer or exploring shared ownership, there’s a path to homeownership for you. 

Ready to take that first step? Drop us a message today.