What First-Time Buyers Often Overlook

Buying your first home is an exciting milestone, but it can also be overwhelming. With so much to think about, it’s easy to miss important details that could affect your budget or delay your move. Many first-time buyers focus only on saving for a deposit, without realising the other commitments that come with home ownership. At Marsons Solicitors, we regularly help first-time buyers avoid these common oversights and guide them through the process with confidence.

Extra Costs Beyond the Purchase Price

When planning a property purchase, many first-time buyers think only about the deposit and monthly mortgage repayments. However, there are several additional expenses that need to be considered. These include stamp duty (if applicable), legal fees, mortgage arrangement fees, surveys, insurance, and moving costs. If you're buying a leasehold property, or a freehold house on a development, there might also be ongoing service charges and ground rent to factor in to your monthly budget. (A proportion of these might also be payable up front on completion so you need to be aware of these early on.)

Marsons Solicitors will provide you with a clear breakdown of our fees from the start and help you budget for the full picture, so you aren’t caught out by unexpected costs later on.

Leasehold Considerations

On top of the service charges and ground rent, there will also be rules about what you can and cannot do with your home. Failing to understand these obligations can cause problems and unexpected bills in the future. Marsons Solicitors will carefully review the lease on your behalf, explain the terms in plain English, and highlight anything that could affect your decision to go ahead.

Council Tax and Utility Bills

Owning a home involves ongoing costs that are sometimes overlooked by first-time buyers. Council tax is set according to the property’s band, and bills for gas, electricity, and water can vary significantly depending on the home. Checking these in advance will give you a realistic picture of your monthly outgoings.

Realistic Timelines

First-time buyers are often surprised at how long the process of buying a property takes. Even the smoothest transactions can run into delays caused by mortgage lenders, searches, or issues in the property chain. It’s important to be prepared for the process to take weeks or even months. Marsons Solicitors will keep you updated at every stage, explain what is happening, and give you a realistic expectation of timescales so you know what to plan for.

The Value of Legal Advice

The role of a conveyancer is far more than just completing paperwork. At Marsons Solicitors, we protect your legal rights, ensure the ownership of the property is transferred correctly, and check for any issues that could cause you problems in the future. We explain everything clearly and provide guidance tailored to your situation, so you feel supported throughout. Having professional advice at your side means you can move into your first home with confidence and peace of mind.

In Summary

Buying your first home is a big step, but by being aware of the hidden costs and potential challenges, you can prepare yourself properly. With the guidance of Marsons Solicitors, you’ll have expert support every step of the way.

Call us today on 020 8313 1300 or contact us via our website for help with your first-time buyer home purchase. In the meantime, why not follow us on Facebook, Instagram, X (Twitter) and LinkedIn to keep up to date with our latest news and updates.

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