When should you buy your first home?

When should you buy your first home?

We are all different, and achieve our goals at different stages in our lives. And that is okay - never compare yourself to others and feel you should have done more just because your peers have. Their situation is totally different to yours and the chances are you will have ticked things off that they haven’t. Don’t believe everything you see on social media. You have no idea what is going on behind closed doors, and a lot of the time, these people who seem to have the ‘perfect life’ have just as many woes as the rest of us. Focus on your own journey and what you want and when.

This leads us on to when you should buy your first home. It isn’t by a certain age or time. It’s when you have some of the following things in order…


To buy a house you need money. A lot of money. This is, after all, probably going to be the most costly expense in your lifetime. But it will be worthwhile! First things first, you need to ensure your finances are in order and you have no pressing bills (check out Creditfix if you need help with debt) negatively interfering with your bank balance.

When buying a house, the companies involved (such as mortgage lenders) want you to show them you can provide the funds to pay them and haven’t had trouble with money in the past. They want to be able to trust you. The best way to prove your reliability is to be financially stable. Check out my money saving post.


This is a huge decision, and with it comes a plethora of choice. Where? What? Who? These are all questions that need answering. You need to think long and hard about what it is you truly want.

Where? - You should have spent some time in the area you’re interested in before deciding to make the commitment to move there permanently, that way you won’t be in for any nasty surprises further down the line.

What? - How much space do you need and what is your budget? There are flats, houses, caravans, boats… Consider the amenities you want and what would suit your lifestyle. If you have a fast-paced life in the city working 9-5 then a penthouse apartment could suit you nicely. If you’re in a relationship and looking to start a family then more space would be suited to you, so a home in the suburbs with a lush garden could be a good fit. Write down a list of things you want, including how many bedrooms, bathrooms and specific features. This will narrow down your search.

Who? - When you’re looking for your own place, you need to know whether or not you want to live alone or with others. If you’re buying with a partner, then the likelihood is you will split the cost, therefore you will both have to search for and agree on somewhere together.

Work life

Unless you’re buying your home upfront, the chances are you will need to take out a loan that you will have to pay back in installments over time. This links us back to finances, as it means you need an income to cover the ongoing costs, so having a job in place that gives you a steady stream of money is vital. If your work is unpredictable and you don’t have a set wage then this could cause you a great deal of stress and could sometimes make it difficult to pay the bills. Live within your means.


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