First-time buyer checklist for 2026

Buying your first home in 2026 can feel exciting – and a little overwhelming. But by following the right steps, the process becomes much clearer. This First-Time Buyer Checklist breaks everything down, so you know what to do, when, and what to prepare. 

Let’s take it one step at a time. 

1. 1. Get clear on your budget

A clear budget is the foundation of your home-buying journey. 

Checklist: 

• Work out how much deposit you’ve saved 

• List your regular monthly spending to work out how much you can afford to pay towards a mortgage each month 

• Use a mortgage calculator to see example monthly payments 

• Factor in extra costs like legal fees, surveys, and moving costs 

• Don’t forget about extra costs into your budget that you may not have had to pay before if you were renting – such as buildings insurance, or service charges if you are thinking of buying a flat.  

2. 2. Check your credit score

Your credit score helps lenders understand how you manage borrowing. 

Checklist: 

• Check your score with a trusted credit agency 

• Correct any errors on your report 

• Pay bills on time 

• Be aware of how much of your available credit you are using. 

3. 3. Understand your mortgage options

There is no “one perfect mortgage.” What matters is choosing a structure that works for your lifestyle and budget. 

Checklist: 

• Speak with a mortgage broker 

• Understand long-term vs short-term fixed rates 

• Ask how different choices affect your payments and flexibility 

• Get a decision in principle to show estate agents that you qualify for a mortgage 

4. 4. Start your property search

Once you know your budget, you can look for homes with confidence. 

Checklist: 

• List your “must-haves” and “nice-to-haves” 

• Explore areas that match your lifestyle and budget 

• Set up property alerts on major sites 

• View a range of properties to compare options 

5. 5. Understand the extra costs

Many first-time buyers are surprised by additional fees – planning ahead helps you stay in control. 

Checklist: 

• Legal and solicitor fees 

• Valuation or survey costs 

• Moving and storage expenses 

• Home insurance 

• Potential Stamp Duty (if applicable to your purchase) 

6. 6. Make your offer

When you have found a home you love, you are ready to make an offer. 

Checklist: 

• Confirm your budget with your broker 

• Submit your offer through the estate agent 

• Wait for acceptance (negotiation is normal!) 

• Keep your broker updated 

7. 7. Prepare for the next steps

Once your offer is accepted, things start to move. 

Checklist: 

• Complete your mortgage application with your broker 

• Check the valuation report to make sure you don’t have any nasty surprises waiting for you when you move in – speak to your broker if you have any concerns 

• Work with your solicitor on the legal process 

• Review and sign the necessary documents 

• Confirm your exchange and completion dates 

The legal process can be quite lengthy and complex; be prepared to wait several months before you finally get the keys to your new home.  

Buying your first home in 2026 can be simple. Plan your budget, check your credit, explore mortgage options, and account for extra costs to stay in control every step of the way. 

Ready to take the next step? Perenna can help you find the right mortgage for your first home. Find a broker for personalised guidance.

You could lose your home if you don’t keep up your mortgage repayments.

Correct at time of publishing.