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How to save a deposit for your first home

Posted on: Friday, May 2, 2025

Saving for a deposit can feel overwhelming, but the key is simple: start saving now. Here are some practical tips to help you kickstart your journey toward homeownership.

 

Start with a Realistic Plan

Setting a manageable monthly savings goal gets the ball rolling. Don’t let the total deposit amount intimidate you—take it step by step. Even if you’re unsure exactly how much you’ll need, beginning the habit of saving is the most important step.

 

Track Your Spending

Use free online budget templates to assess your income and expenses. Include both fixed costs (like rent and bills) and those sneaky small purchases that add up fast. Review your last few months of spending to create a realistic picture and avoid being overly optimistic.

 

Don’t Overstretch Yourself

Be honest about what you can save each month. Set a minimum amount you’re confident you can commit to. If you have a particularly good month, great—add a little extra. Trying to save too much too soon can lead to frustration and burnout.

 

Choose the Right Savings Account

Do your homework before opening an account. Since this is a long-term goal, an account with a higher interest rate—even if it limits access to your money—might be best. Periodically review your options to make sure your money is working as hard as you are.

 

Automate Your Savings

Set up a standing order or direct debit to move money into your savings automatically. This removes the temptation to spend it elsewhere and turns saving into a habit.

 

Lean on Your Support Network

Let your friends and family know about your goal. They’ll likely be supportive and may even suggest budget-friendly alternatives, like midweek meetups or cosy dinners at home instead of pricey nights out.

 

Stay Motivated

Saving is often easiest in the beginning when motivation is high. As time goes on, look for ways to keep your momentum going—set mini-milestones, reward yourself occasionally, and remember: it’s okay to take a break as long as you stick to your baseline goal.

 

Contact us

Start where you are, stay consistent, and keep your goal in sight. Your future self will thank you! Contact your local Guild Member when you are ready to start your journey to buying.

 

 

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We really wanted a purchase to go ahead through Wilkes-Green and Hill as you have been the most helpful agent we have ever come across (including Newcastle, Glasgow and Carlisle cities!) and we are sorry that the time you have expended on us has been in vain...

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Thanks to you all for making the sale of Mum's house so easy at a difficult time for myself and family...

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I've bought and sold many places - leading to a low opinion of estate agents! Until you came along! Many thanks for your professionalism, hard work and continued efforts. They are very much appreciated.

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It's not very often that you come across someone so helpful and enthusiastic that it makes you smile!!Moving house was supposed to be stressful; thanks for making it so easy!! Your professionalism and hard work is much appreciated.

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I would like to say again how grateful I am for all of your support since you took the property on to your books and all of the advice you have given me which was often above and beyond the call of duty. Your professionalism throughout has been excellent...

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A very big thank you to all of you for really fantastic service...definitely 5-star!

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Having recently used 3 other agents I can say with hesitation that WGH are in a different league, very professional, efficient, polite and friendly. 3 other agents have marketed my house which only achieved 2 viewings in total. I had 2 viewings with WGH in the first week which I put down to their marketing skills

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WG-H couldn't have been more helpful, queries were answered immediately by professional courteous staff , and they even offered to turn the heating up in our holiday house when the weather was particularly cold. Gayle would ring us during an evening to respond to our query , if required and Amanda even paid a cheque into our bank account. What a lovely company to work with.

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