First Time Home Buyer Costs: What You Really Need to Pay

When you're a first time home buyer, someone purchasing their first residential property in the UK, often with limited savings and no prior mortgage experience, the biggest shock isn’t the house price—it’s everything else you have to pay before you even get the keys. First time home buyer costs can add tens of thousands to your budget, and most people don’t see them coming. It’s not just the deposit. It’s stamp duty, solicitor fees, survey costs, mortgage arrangement fees, and moving expenses. If you’re counting on just the price of the home, you’ll run out of money fast.

Many first-time buyers in the UK turn to shared ownership, a government-backed scheme where you buy a portion of a home and pay rent on the rest, making homeownership possible with a smaller upfront payment to lower the barrier. But even then, you’re still paying legal fees, valuation charges, and monthly rent on the part you don’t own. And if you plan to staircase later—buying more shares over time—you’ll face more fees each time. Then there’s stamp duty, a tax paid on property purchases over £250,000 in England and Northern Ireland, though first-time buyers get relief up to £425,000. That relief helps, but it doesn’t cover everything. You’ll also need money for a survey, which tells you if the house has hidden problems that could cost you more later. And don’t forget the mortgage broker fee, the removal van, the utility setup charges, and the new locks and curtains.

Some buyers think they’re saving by skipping a survey or choosing the cheapest solicitor. That’s how people end up with £20,000 in repair bills after moving in. The smart move? Budget for the full picture. Look at what’s been paid by others in similar situations—like those in North Carolina or Virginia who used state programs to cover down payments. Even if you’re not in the US, the principle is the same: know what’s required before you commit. The posts below break down real costs from real buyers: how much you need for a £100,000 deposit, how mortgage borrowing power changes with your salary, and how shared ownership fees stack up over time. You won’t find fluff here—just what actually gets charged, who charges it, and how to avoid paying more than you have to.