🚪 Taking Your First Step: How to Get on the Property Ladder
Getting on the property ladder is a major life milestone—and one that may feel increasingly out of reach for many first-time buyers. But with the right strategy, planning, and guidance from local experts like David Clarke Estate Agents, it’s entirely achievable. Our team of estate agents in Herne Bay and Whitstable are here to help you make that all-important first step with confidence.
Buying your first home involves much more than simply saving a deposit. From credit checks and mortgage agreements to legal fees and ongoing costs, there’s a lot to consider. The earlier you understand the process, the better prepared you’ll be.
1. Start with your budget. Work out how much you can afford by looking at your income, monthly outgoings, and how much you can realistically save. You’ll typically need at least a 5% deposit, but a larger one—10% or more—can open the door to better mortgage deals.
2. Improve your credit score. A good credit history is crucial. Make sure you’re registered on the electoral roll, pay off existing debts, and avoid making large credit applications before applying for a mortgage.
3. Explore first-time buyer schemes. Help to Buy ISAs may have closed to new applicants, but other initiatives like the Lifetime ISA (LISA) and shared ownership schemes are still available and can make your savings stretch further. The government will add 25% to your LISA contributions—up to £1,000 a year—when used for your first home.
4. Get a mortgage Agreement in Principle (AIP). An AIP shows sellers and agents that you’re serious and can help you understand your borrowing limits. It also puts you in a stronger position when making offers.
5. Know the full cost of buying. Beyond the deposit, remember to budget for solicitor fees, survey costs, removal fees, and possibly Stamp Duty (though most first-time buyers are exempt below certain thresholds).
6. Work with the right estate agents. This is where we come in. At David Clarke Estate Agents, we regularly help first-time buyers in Herne Bay and Whitstable find homes that fit their budget, lifestyle, and future plans. We’ll walk you through the process, explain the jargon, and connect you with trusted mortgage brokers, solicitors, and surveyors.
Getting on the property ladder isn’t always easy—but it is possible. Our advice? Start planning early, stay realistic, and lean on professionals who know the local market inside and out. With support from David Clarke Estate Agents, your first step into homeownership can be smoother and more successful than you think.
Looking for homes in Herne Bay or Whitstable? We’d love to help you find the perfect first property.