First Time Buyer Mistakes
10 First Time Buyer Mistakes to Avoid
Buying your first home is exciting, but a few common mistakes can cost you money, time or the house itself. Here are the ones we see most often and how to avoid them.
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The Big Ones
Most Mistakes Happen Before You Apply
Small things months before your application can make a big difference.
- ✓New credit: taking out finance just before applying
- ✓No mortgage in principle: missing out on homes because you are not ready
- ✓Offering over blindly: not knowing the extra cash you need
- ✓Forgetting costs: LBTT, solicitor fees and moving costs
How We Help
Do These Instead
Five habits of successful first time buyers.
Know Your Budget
Get a mortgage in principle before viewing.
Protect Your Credit
No new finance and no missed payments.
Read the Home Report
Before deciding what to offer.
Plan All Costs
Deposit, LBTT, fees and moving costs.
Think About Protection
Your new home needs protecting too.
Common Mistakes
What We See Most Often
And how to avoid them.
Common Questions
First Time Buyer Questions, Answered
The things first time buyers ask us most.
What is the biggest mistake first time buyers make?
Taking on new credit before applying, and not getting a mortgage in principle early.
Should I get a car before buying a house?
It is usually better to wait until after your mortgage completes.
How much should I offer over the Home Report?
It depends on the market and your cash. Use our offer calculator to check.
Do I need a solicitor before I offer?
Yes. In Scotland your solicitor submits offers for you.
What costs do first time buyers forget?
LBTT above £175,000, solicitor fees, surveys and moving costs.
When should I speak to a broker?
Before you start viewing.
Related guides
- Buying a house in Scotland step by step
- How much to offer on a house in Scotland
- Being mortgage ready
- LBTT calculator Scotland
- All mortgage questions answered
Written by Tony Flynn, mortgage broker at Tony Flynn Mortgages, helping homebuyers across Lanarkshire and Scotland. This page is general information, not personal advice. Speak to Tony about your own circumstances.
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