Stepping onto the property ladder as a first-time buyer can be daunting, but with the right preparation and guidance from experts like us, you can soar into a smooth sale.
Step one – Get familiar with your finances
Understand your personal financial position to identify your budget and the level of deposit you are able to put down towards your home. The average price paid by first-time buyers in Cardiff in February 2025 was £236,000.
You can obtain a mortgage in principle, also called an agreement or decision in principle, to see how much you can borrow before you start your search. Remain confident in the price point you are aiming for and ensure that it is in line with any prerequisites you may have.
As a first-time buyer, there are multiple schemes in place to aid those looking to purchase a property. The Welsh Government have a number of schemes including the Help to Buy scheme for first-time buyers for homes up to £300,000.
Step two – Start your search
Once you are secure in your finances, here comes the fun bit: you can begin the search!
Ahead of your viewing, do a little homework including reading up on the local area and ensuring that the property can accommodate your requirements so you can make the most of your appointment. Don’t be afraid to ask questions: clarify what the property is worth, what’s included in the sale and what could be repaired or inspected before completion.
A key consideration when selecting your home is whether it is part of a property chain. This is when a group of buyers and sellers are connected in the sale of a property, with the respective transactions depending on each other, and needing to occur at the same time. First-time buyers are usually at the start of a chain, but you could strike lucky with a ‘chain free property’ if you are purchasing a new build or a vacant property.
Wherever you are in the chain or in the viewing process, our team can share their detailed local knowledge and the latest market updates with you to help you make an informed decision.
Step three – Making an offer
Once you’ve found your ideal home, the next step is making an offer. Recent trends suggest that buyers are paying between 3% and 4% below the asking price.
What happens next? Once your offer has been accepted, we would recommend, as well as following our guidance, that you instruct a legal professional like a solicitor or conveyancer to support you with the all important paperwork such as contracts and searches. These typically include a local authority search, water and drainage search and an environmental search.
Other critical elements to carry out post offer include organising a survey to ensure the property’s condition has kept up with the proposed offer and there are no hidden issues, and to apply for your mortgage. There’s a lot to consider when it comes to securing your mortgage, such as what type you would like to take out (fixed-rate or tracker), the amount you are eligible to borrow and how interest rates may affect it.
When the paperwork is finalised, the contracts are exchanged and the transaction completed, you’ll receive the keys to your first home!
The market is constantly changing, which can be especially overwhelming as a first-time buyer. We have been helping people buy and sell homes in Cardiff for over 50 years and know the market like the back of our hand. Get in touch for expert guidance on your property journey and we’ll help you find the home for you.