Getting a foot onto the property ladder has always presented challenges.

However, research in recent years has suggested that first-time buyers (FTBs) could be experiencing the most expensive conditions in 70 years.

Who is most affected?

In the current property market, a successful first purchase often requires two high incomes plus financial support from family members.

Therefore, those who are buying alone, have lower incomes or cannot access help from family, are at the most risk of losing out.

Delaying proceedings

Ongoing market uncertainty has led many aspiring homeowners to pause their plans. Studies indicate that over the past few years, 49% of prospective FTBs have postponed buying a home*.

Among those delaying, 53% cited high house prices as the primary reason*.

Making a compromise

For those determined to buy, compromise has become an essential part of the process. Data shows that 38% of homeowners who purchased in the last five years had to adjust their expectations to make their first purchase possible*.

Common compromises include purchasing a property that required renovation (40%) or relocating to a different area than originally planned (34%)*.

Practical tips for First-time buyers (FTBs)

Despite the challenges, there are several key steps you can take to navigate the property market and help guide your approach.

Explore mortgage options

Do not assume your bank will offer the most competitive deal. It is worth reviewing offers from multiple lenders, or seeking advice from an independent mortgage broker.

Some may offer fixed-rate loans, while others favour variable rates, so understanding what is available can make a significant difference to your borrowing costs. Depending upon the interest rate environment in which you find yourself, your preferences will differ.

Determine your budget and consider all costs

Your deposit and mortgage repayments are only one part of a much larger picture.

Remember to account for legal fees, taxes, valuation costs, insurance, utility bills, and ongoing maintenance.

Having a clear view of your total financial commitment from the outset can help prevent surprises and avoid overstretching yourself.

Consider price, location and condition

These three factors form the foundation of any home search. You will typically be able to prioritise two, but may need to compromise on the third.

For example, if you want a prime location and excellent condition, the price may be higher than your budget. Alternatively, you might find value in a property that needs renovation or is in a less central area.

Clarifying your non-negotiables and your ‘nice-to-haves’ will help keep your search focused and realistic.

Plan for unexpected expenses

It is easy to become emotionally invested in a property, but practical considerations must come first, even if it feels like the perfect match.

Be prepared for potential issues that might arise from surveys or inspections, and allow room in your finances for repairs or improvements.

Flexibility and patience are vital, as the right home will meet both your budget and your needs.

Take control

Ultimately, buying a home is a highly personal decision and should be guided by what fits your individual needs and long-term plans.

Some countries offer more favourable borrowing conditions, with lower mortgage rates and more flexible lending terms, while others continue to see rates remain higher for longer. What matters most is how property ownership fits within your broader financial planning strategy.

Fortunately, whether you are buying now or waiting for conditions to improve, careful planning can help ensure your decisions are financially sound and aligned with your wider goals. 

Where do you go for such planning, you ask? Patterson Mills have access to independent mortgage contacts that can help you acquire the home of your dreams. Get in touch today for a free quotation with no obligation attached and get your foot on the property ladder.

E-mail to contactus@pattersonmills.ch or call +41 (0) 21 801 36 84 and we shall be pleased to assist you.