A guide to buying your first home without mistakes

Buying your first home is probably the biggest financial decision you'll make. And like every first time, it's full of doubts and details nobody tells you about until it's too late. This guide walks you through the process so you reach signing day with confidence.

Before you search: your real budget

The most common mistake is falling in love with a home before knowing what you can afford. Start at the end: how much you can commit without stretching yourself.

• Available savings: you'll need money for the down payment and for the purchase costs, which are separate from the price.
• Repayment capacity: the monthly payment shouldn't strangle your finances or stop you handling the unexpected.
• Bank pre-approval: talking to the bank (or a mortgage advisor) before you search gives you a realistic budget and leverage to negotiate.

The costs that aren't always counted

On top of the property price there's a set of costs and taxes. Being clear about them from the start avoids nasty surprises:

• Purchase taxes (they vary depending on whether the home is new or second-hand).
• Notary and Land Registry fees.
• Property appraisal, which the bank requires to grant the mortgage.
• Paperwork agency and, where applicable, the loan arrangement fee.

Checklist before signing

• Check the land registry extract: who owns it and whether the property carries any charges.
• Make sure the home is up to date on community fees and property tax.
• Ask for the energy certificate and, where applicable, the building's technical inspection.
• Read the deposit contract carefully: what happens if either party pulls out.

Don't do it alone

A buyer's agent working for you reviews the paperwork, spots problems before they become yours, and negotiates the price on your behalf. In a deal this size, having someone on your side isn't a luxury: it's what prevents the expensive mistake.

The perfect house at the wrong price is a bad deal. The number first, the emotions after.