First-time home buyer guide for Scotland
Buying your first home in Scotland can be an exciting but complex process. Here is a straightforward guide to help you through each step.
1. The Financials
Begin by assessing your financial situation. Calculate how much you can afford to spend on a property, keeping in mind that you’ll need to save for a deposit, which is typically between 5% and 20% of the property’s price. Additionally, budget for extra costs such as legal fees, surveys and moving expenses. It’s wise to get mortgage pre-approval to know how much you can borrow and look into first-time buyer schemes like Help to Buy (Scotland) that might be available to assist you.
2. Find Your Property
Start your search by exploring our online property listings and we can help source homes that match your criteria. We can arrange viewings for you to visit potential properties and get a feel for their condition and the local area.
3. Make an Offer
Once you’ve found a property you like, you will need to make an offer. We will help you with this process. Be prepared to negotiate, as the seller may make a counteroffer. When both parties agree on the terms, your offer will be formally accepted and you'll receive a “Letter of Offer” that your solicitor will use to move forward with the purchase.
4. Complete the Purchase
With your offer accepted, it’s time to engage a solicitor to handle the legal aspects of the purchase. They will conduct necessary checks and handle the conveyancing process, including reviewing the Home Report provided by the seller. This report includes a property survey, an energy report, and a valuation. We will help you understand this process and we recommend the best solicitors to help ensure a smooth and successful purchase.
5. Final Steps
Finally, finalise your mortgage and prepare for the transfer of ownership. Your solicitor will coordinate with the seller’s legal team to complete the sale. Once everything is done, you’ll be ready to move into your new home and we will help you settle in.