The First Step Shouldn’t Feel Impossible

Buying your first home.

Owning your own home should feel achievable. For many people today, it does not.

If you are working hard, doing your best to save, and still feel like homeownership is getting further away instead of closer, you are not alone. I speak to people every day who feel stuck, unsure where to start, or convinced they are further behind than they should be, so if this already resonates, this article is for you.

The truth is that the journey has become more difficult, but that does not mean it is out of reach. 

I have spent over a decade working in the property industry, with most of that time focused on mortgages and protection. In that time, I have seen hundreds, if not thousands, of people across the UK step into a home of their own. It is one of the biggest milestones in a person’s life, and often one of their proudest moments.

Every now and then, when I step away from the pace of the day to day and really think about what we do, it hits me; this is not just about property or finance, this is about people choosing where they will spend most of their time, not just for a few years, but often for decades. It is where memories are made, families grow, and life unfolds in all its highs and challenges. To be part of that journey is a privilege. It always has been.

But there is something that has been building over the past few years, something that is becoming harder to ignore… The cost of that journey is rising to a level that feels out of reach for far too many people and that is exactly why I felt compelled to write this.

The reality for first time buyers today looks very different to what it did even ten years ago.

Let’s put that into perspective…

This is not just something I see day to day, it is compounded by what is happening across the country; the average first time buyer in the UK is now around 33 years old, a decade ago, that figure was closer to the late twenties. What used to feel like a natural next step now feels delayed, and for many, uncertain.

At the same time, the average UK house price is now over £285,000, with many areas far exceeding that, for someone trying to buy with a standard deposit, that often means finding £20,000 to £30,000 just to get started, that is before legal costs, surveys, and everything else that comes with it.

Now consider renting.

The average monthly rent has climbed to around £1,250, and in many cities, it is significantly higher. For a lot of people, this is their single biggest outgoing; it leaves very little room to save, especially when combined with the rising cost of living.

And that is where the real challenge sits.

The average person is saving only a few hundred pounds a month, if that. When you put that next to the level of deposit needed, it is easy to see why so many feel stuck; you are expected to save tens of thousands of pounds while paying record levels in rent, all while house prices continue to move.

In recent months, with everything happening across the world politically and economically, we have seen reactive decisions that have had a direct impact on interest rates. The result is simple, borrowing has become more expensive, and for many people, securing a mortgage that still allows for a good quality of life is becoming increasingly difficult.

But to really understand how we got here, it helps to look back.

Go back around twenty years and the landscape looked very different… House prices were significantly lower relative to income. Lending was more accessible, (sometimes too accessible), but for many it meant getting onto the ladder was far more achievable. Schemes like Right to Buy were widely available and gave people a clear and supported path into homeownership.

Fast forward to around ten years ago, and while the market had already begun to tighten, there was still meaningful support in place. Schemes like Help to Buy helped bridge the gap for many first-time buyers. Interest rates were historically low, which made monthly payments more manageable and gave people confidence to move forward.

Now look at today.

House prices are higher. Deposits are larger. Interest rates are more restrictive. And many of the schemes that once supported first time buyers are no longer available.

Put simply, there are fewer helping hands than there used to be, at a time when they are needed the most.

And the impact of this stretches far beyond just buying a home, for many people, starting a family has always gone hand in hand with having somewhere stable and secure to call their own; a place that feels like a foundation to build from.

When homeownership feels out of reach, and renting is both expensive and uncertain, it is only natural that people begin to delay some of life’s biggest decisions, including having children.

Surveys across the UK consistently show the same pattern, affordability, job security, and the cost of raising a child sit at the top of the list when people are asked why they are waiting.

In simple terms, it is not that people do not want families. It is that many do not feel financially secure enough to start one.

It is not a lack of effort. It is not a lack of discipline.

For many, it is simply the reality of the environment they are trying to navigate.

And this is the part that does not get spoken about enough.

Time and time again, when I speak to friends, family, and people we meet through our business who are not yet homeowners, there is a common theme. They feel like they are behind, like they should be further along, like somehow, they are the problem.

The truth is that the odds are stacked against you far more than they used to be. And from where I stand, there is nowhere near enough support or guidance in place to help people stay on track, stay disciplined, and achieve what is, without question, one of the biggest financial and personal milestones of their lives.

There are thousands of people doing everything right. Working hard, budgeting where they can, trying to plan, and yet still feeling like the goalposts are moving further away instead of getting closer.

If that is you, you are not alone. I mean that.

At this point, you might be thinking this all sounds quite heavy, and you would be right! But there is a reason for that; there is no value in pretending the landscape is easier than it is. If we do not acknowledge the reality, nothing changes.

But this is where things need to shift.

Change.

As I said at the beginning, I have seen thousands of people buy their first home, remortgage, upsize, and move forward in their lives. What we are not always part of, are the years that lead up to that moment. 

The saving, the planning, the setbacks, and the uncertainty.

That is the part I want to be involved in.

I cannot change the wider market. None of us can. But what we can do, and what I want our business to do, is offer real support to people who aspire to own a home one day, no matter how far away that might feel right now.

That starts with a simple conversation.

We will offer a free initial review where we can sit down together and look at your current position, we can talk through what it might take for you to buy a home, we can review different lending options that may be out there for you, well discuss what hurdles might be in the way, and most importantly, how we can start to overcome them.

From there, we build a plan. That might be three months, six months, a year, or longer. 

There is no pressure. There is no expectation. Just a clear path forward.

And more than that, we will stay with you on that journey. Checking in, keeping you focused, helping you adjust when life inevitably throws something unexpected your way.

You might feel like your debt is too high. You might feel like your credit profile is not where it needs to be. You might feel like you are simply too far away from being ready.

But I can tell you this with complete confidence.

It is not impossible.

It might take time. It might take structure. It might take support.

But we will get there.

So, this is my promise to anyone who has made it to the end of this article. If any of this resonates with you, if you feel unsure, if you need support, or if you simply want to talk through your goals, reach out today – csmith@fowlersmith.co.uk. 

Charlie Smith

Founder & Sales Director