With that in mind, here are some tips to consider when it comes to buying your first home.

Stay put!

Stay at home for as long as possible. It’s now more common than ever for people to be saving up while living at home until they’re in their late 20s. It’s not ideal, but owning your own home should be compensation enough.

READ: THINGS TO REMEMBER WHEN BUYING FOREIGN CURRENCY

Save, save, save

It’s an obvious one but if you don’t put the work in you’re not going to see any results. If you’re serious about buying, you need to be putting as much as you can afford away every month and set up a savings account and an ISA.

Have a standing order in place every month to take the money from your debit account and into your savings account. Then whenever possible put the maximum amount into your ISA. Cash ISAs are shielded from tax, which means your money is protected.

Remember to make sure you save money for furniture and anything you need to decorate!

READ: HOW AND WHERE TO GET A GREAT LAST MINUTE HOLIDAY DEAL

Have a plan

Set yourself a date to be in your home by (being realistic). If you have a goal to work towards then you’ll be less likely to falter on your savings. Also cut out and keep house inspiration and make a ‘home scrapbook’. This will also push you to work harder!

Consider everything

Look at areas that may need regeneration. They might not be the best places, but they’ll be a lot cheaper and perfect for your first step into the property market.

You check out auctions for repossession properties – beware these properties usually need a large/full deposit.

Know what you’re getting into

Really research the mortgages available to you and make sure you’re getting the best deal possible.

Although it’s generally not advisable as it means you end up paying more back, you might want to consider a longer mortgage as this means your monthly repayments will be cheaper.

Also look into a mortgage that is fixed-term for a certain period, as this way you know at least for that time you’ll get no nasty surprises.

READ: TOP MONEY-SAVING TIPS FOR NEW MUMS

Check out the extras

It’s not just the price of a property you should consider. Research council tax in the area to make sure you factor it in. If you’re buying a flat there may also be an annual service charge to consider.

If you commute to work, find out if the monthly cost of travel is feasible or will leave you out of pocket.

Also take a look at surrounding properties to get an idea of the resale potential of your home, for future reference!

Here are the best websites for you to check and find out the current and best mortgage rates.