Buying your first home involves more moving parts than almost any other purchase most people make, and a handful of avoidable mistakes account for a large share of first-time buyer regrets. Here's what to watch for.

1. Underestimating the total cost of buying

Focusing purely on the deposit and forgetting Stamp Duty, legal fees, valuation and survey costs, mortgage arrangement fees, removals and immediate furnishing needs is one of the most common budgeting mistakes — often leaving buyers cash-poor right at completion. Budget an additional 1.5-3% of the purchase price beyond your deposit for these combined costs.

2. Skipping a proper survey

Relying solely on the lender's mortgage valuation — which exists to protect the lender, not you — means missing the chance to catch damp, structural issues, or expensive defects before you commit. See our full guide on what happens at a mortgage valuation.

3. Maxing out affordability rather than budgeting comfortably

Borrowing the maximum a lender will offer, rather than what you'd genuinely be comfortable repaying, leaves little room for interest rate rises, income changes, or unexpected costs once you own a home. Just because a lender will offer you a certain amount doesn't mean it's the right amount for your circumstances.

4. Making big credit decisions during the mortgage process

Taking out new credit, switching jobs, or making large unexplained purchases between your mortgage in principle and completion can jeopardise your application at the worst possible moment. Keep your financial situation as stable and boring as possible until after completion.

5. Not checking the freehold/leasehold status properly

Leasehold properties come with ground rent, service charges, and a diminishing lease term that can affect both mortgageability and resale value if it falls too low. Make sure your solicitor explains the lease terms clearly, including any planned increases to ground rent or service charges.

6. Underestimating ongoing costs after moving in

Buildings insurance, maintenance, council tax, and the simple fact that a landlord no longer handles repairs all add to your monthly outgoings beyond the mortgage payment itself. Budget realistically for these before deciding what mortgage repayment is genuinely comfortable.

7. Not shopping around for the mortgage itself

Taking the first mortgage offered, often via the estate agent's in-house broker, rather than comparing the whole market can mean paying a meaningfully higher rate than necessary for years. See our guide on shopping around for the best rate.

8. Ignoring the electoral roll and credit report until the last minute

Basic preparation — registering to vote, checking your credit report, correcting any errors — takes weeks to fully reflect, so leaving it until you're ready to apply can cost you time or even a rate you'd otherwise have qualified for.

9. Letting emotion override the numbers

Falling in love with a property and stretching well beyond your comfortable budget, or waiving a survey to make an offer more competitive in a hot market, are decisions that can feel urgent in the moment but carry real long-term financial risk.

The bottom line

Most first-time buyer regrets trace back to a small set of avoidable mistakes: underestimating total costs, skipping proper due diligence, and letting either urgency or emotion override careful planning. Working methodically through our First-Time Buyer Document Checklist is a practical way to stay on track.

This article is for general information only and does not constitute financial, legal or tax advice. Rates, thresholds and eligibility criteria change over time — always check current terms with the lender or an FCA-regulated adviser before making a decision. See our full terms and disclaimer.