We surveyed three different groups of first time buyers to explore their expectations vs the reality of the home buying process.
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Future First Time Buyers
Planning to buy their first home in the future, but are not in a position to buy yet.
- 57% are cutting back on luxuries to save more money.
- 33% have taken on side hustles to earn more money.
- 67%begin their research on property listing apps.
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Current First Time Buyers
Actively planning their purchase within the next two years.
- They are budgeting just over £233,000 to buy their first home.
- 65% would choose to speak with estate agents in person.
- Expect to view a property 3-4 times before making an offer.
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Recent First Time Buyers
Those who've bought their first home in the last five years.
- They spent just over £264,000 buying their first home on average.
- Viewed properties on average of 2–3 times before making an offer.
- 31% felt they lacked support on paperwork and documentation.
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Future First Time Buyers plan to cut back on luxuries
Aspiring homeowners are making sacrifices and utilising savings accounts, but still anticipate a lengthy timeline to achieve their home ownership goal. On average, Future First Time Buyers believe it will take them five years to save enough money to buy a home.
The majority of FTBs surveyed said they cut back on luxuries, others said they had created and followed a budget, used a mortgage calculator to help set savings targets and 21% reviewed first time buyer schemes.
Navigating the buying process
Recent First Time Buyers suggest there's still work to be done in making the mortgage process easier to navigate, especially when it comes to understanding and managing all the necessary paperwork.
Expectations vs reality
Current First Time Buyers expected to view a property 3–4 times before making an offer, whilst Recent First Time Buyers actually viewed a home 2-3 times before they bought it. Typically, first time buyers expect to view a property more times before they commit to buying than in reality.
Recent changes in the market, such as Stamp Duty adjustments, may have led to shorter first time buyer purchase timescales. These changes may mean less property viewings before making a decision.
Future First Time Buyers expect to spend less
Future First Time Buyers often have budget gaps compared to average house prices. They also lack knowledge about less common homebuying costs, highlighting the need for clearer guidance and resources.
The average UK house price is £268,250 according to Zoopla House Price Index published May 2025. The budget of Recent First Time Buyers was close to this. However, Current First Time Buyers face an affordability gap of about £30,000 compared with what Recent First Time Buyers had available to spend and the average UK house price. A high number of Recent First Time Buyers we surveyed were married, suggesting they may have also benefited from increased affordability on a joint mortgage.
Could you get a little help to move into your own home more quickly?
A NatWest Family-Backed mortgage, sometimes known as a 'joint borrower sole proprietor' (JBSP) mortgage, can help buyers get onto the property ladder sooner or borrow more. It lets you add a second person to your mortgage but without them owning the property, the non-owner could be a family member or friend. Exclusions and criteria apply.
Tools and resources
Are you hoping to be a first time buyer, but looking for help and advice? Our guides and tools can help you discover how much the average house deposit is depending on the purchase price, calculate how much you could borrow, discover rates, and more.
Read our full First Time Buyer Navigator
Want to delve deeper into our findings? Download the First Time Buyer Navigator report to get a full view of what you need to know about the expectation versus the reality of buying your first home.
Research methodology
The insights presented in the NatWest First Time Buyer Navigator are based on a comprehensive survey conducted between October 2024-May 2025 with research company OnePoll. The survey targeted a total of 3,000 respondents, with 1,000 in each of the three distinct audience groups: Potential Home Buyers (PHBs), Soon-to-Be Buyers (STBBs), and Recent First Time Buyers (RFTBs).