Stepping onto the property ladder is a major achievement, but finding the right home in a popular city like York comes with its challenges. With rising property prices, demand, and financial considerations, first-time buyers need a solid strategy to make informed decisions.  

This guide breaks down the key steps, challenges, and support available to help you find and secure your ideal home in 2025 and beyond. 

1. Understand your finances 

Before starting your property search analyse your financial position: 

• Deposit requirements – Most lenders require at least 5-10% of the property price as a deposit. The more you save, the better your mortgage options. 

• Additional costs – Factor in legal fees, surveys, mortgage arrangement fees, and moving costs, which can add thousands to your budget. 

• Affordability check – Use mortgage calculators to estimate how much you can borrow based on your income and expenses. 

2. Explore government schemes for first-time buyers 

There are several financial support options designed to help first-time buyers in York: 

• First Homes Scheme – Discounted new-build homes (30-50% off market value) for local first-time buyers and key workers. 

• Shared Ownership – Buy a percentage (25-75%) of a home and pay rent on the remainder, reducing upfront costs. 

• Lifetime ISA (LISA) – Save up to £4,000 per year, with a 25% government bonus to put towards your first home. 

3. Research the local property market 

York remains a popular city for buyers, so it’s essential to research: 

• House prices – The average price of a home in York is £320,000, with semi-detached homes averaging £280,000 and terraced properties around £260,000.* 

• Best areas for first-time buyers – Look at up-and-coming locations where prices may be lower, such as Acomb, Tang Hall, and Huntington.* 

4. Secure a mortgage in principle 

A mortgage agreement in principle (AIP) shows how much a lender is willing to offer you. Having an AIP can strengthen your position when making an offer, especially in competitive areas of York. 

5. View properties and make an offer 

Attend multiple viewings to compare properties and get a better understanding of the market. Pay attention to factors such as energy efficiency, transport links, and potential for future growth, as these can impact both your living experience and long-term property value. When you find the right home, use market research and property condition insights to make a well-informed offer. 

6. Complete the legal process 

The final stage of buying your home involves important legal and financial steps to ensure a smooth transaction. Working with the right professionals can help you avoid delays and unexpected issues. 

• Hire a solicitor to manage contracts and property checks. 

• Arrange a survey to identify potential issues before completing the purchase. 

• Exchange contracts and pay the deposit to secure the property. 

• Completion day – Funds are transferred, and you receive the keys to your first home! 

Buying your first home in York is a big step, but with the right planning, financial know-how, and support, it doesn’t have to be stressful. Understanding the process, looking into financial help, and getting expert advice can make all the difference in finding the perfect place. 

Start your home-buying journey with our expert guidance

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