My experience as a 31-year-old first-time buyer in Scotland in 2025–26 (still in progress – fingers crossed!)
Taking the first steps towards buying my first home has been exciting, overwhelming, and at times genuinely exhausting.
Like a lot of people, I went into the process assuming I could lean on family for guidance. While some of them own homes, most bought decades ago, and even when they remembered the details, so much has changed since then. I was never taught how mortgages work at school or university, so a lot of what I’ve learned has been through experience (and many online searches!).
In the space of six months, I viewed more than 10 properties and made offers on around seven.
Along the way, here are a few things I learned:
In my area of Scotland, properties were often selling for between 5% and 20% over the Home Report value. I didn’t realise how common this was at first, especially as lenders won’t usually cover that extra amount. That means you need cash not just for your deposit and legal fees, but also for anything you offer above valuation, which can add up quickly. For me, this meant needing more money upfront than I’d originally planned to be competitive and adjusting my budget accordingly.
In Scotland, the seller provides an in-depth Home Report, which you can read before viewing or making an offer. I found this really helpful as a buyer, as it highlighted potential issues early on. I was surprised to learn that in England it’s usually the buyer’s responsibility, and often only happens after an offer has been accepted.
Properties in my area often went from being listed to a closing date within a week or two, meaning I had to act quickly just to be in with a chance. In Scotland, closing dates involve sealed “best and final” offers submitted via a solicitor. What surprised me most was that if you’re unsuccessful, you don’t find out what the winning bid was, making it hard to know whether you were close or miles off.
The emotional (and mental maths) side of it
Buying a home isn’t just about bricks and mortar, it’s a lot of thinking about the future.
I spent time asking myself questions like:
- Is this a “for now” home or a “forever” one?
- Do I wait and save more, or start building equity sooner?
- If I buy at this price or rate, what might that look like in five or ten years?
- What if my circumstances change, even a little?
You don’t need to have your whole life mapped out, and you can’t predict everything, but I found it helpful to stress-test different scenarios rather than focusing only on the immediate.
Then, rather than trying to “win” at all costs, I set clear boundaries for myself. I decided what felt manageable, including how much above Home Report I was able to go, and stuck to it, even when it was tempting to stretch further.
I also thought carefully about how different options would affect my life beyond the mortgage payment. While I could manage a higher monthly cost, it might have limited what I could afford day to day, from holidays to saving for the future.
That trade-off will look different for everyone, but thinking about it upfront helped me feel more confident in my choices.
The cost of not knowing
I’m now going through the mortgage application process on an accepted offer, which has come with its own set of questions – which lender to go with, fixed vs variable rate, term length and more. And I’m sure there will be more lessons to come.
What I do know for sure is that it can be disheartening to fall in love with a property and not get it. If that’s happened to you, you’re not alone. The process is competitive, emotional, and often unclear, especially when you’re learning as you go.
Looking back, none of the surprises I encountered were impossible to understand or work through, but they could be costly. Not just financially, but emotionally too.
This isn’t about doing things “wrong”. Most of us were never taught how this system works. The cost of not knowing often shows up as stress, uncertainty, and difficult decisions made under pressure. I’m proud to work for an organisation that is trying to make it easier.
Financial education doesn’t mean having all the answers. It means knowing what questions to ask and having the confidence to pause and weigh up your options. That’s the biggest lesson I took away from this.
This article reflects personal experience and is not financial advice. Buying a home works differently across the UK, and everyone’s circumstances are unique. For guidance, speak to a qualified mortgage adviser, solicitor, or broker.
The Cost Of Not Knowing
Every day, people across the UK, like Sarah, make financial decisions that shape their lives. But too often, those choices are harder than they should be. Read more about our cost of not knowing campaign and how you can get involved.