For generations, property buyers have started out with a modest first home, built up equity and upsize as their finances improved.
But now, experts say a growing number of first-time buyers are shunning the property ladder as we know it, bypassing the traditional starter home and purchasing properties intended to last for the long-term instead.
There are several factors behind the change, including rising transaction costs, changing lifestyles, and the growing age of first-time buyers.
Emma Ahizu and her partner, both in their forties, recently became homeowners, leaving behind their two-bedroom flat in Canada Water, London, which they rented for £1,500 per month behind.
They moved straight into a house double the size – a four-bedroom detached property in Sittingbourne, Kent.
It has a large garden which Emma says gives her children the space to play, and a spacious kitchen and living room allowing them to host family and friends.
Speaking to The i Paper, the NHS nurse said: “My partner and I are both over 40, so we knew we wanted this to be our long-term family home rather than a temporary starter property.
“Moving twice didn’t make sense for us. We decided to take our time, save properly, and wait until we were financially ready to afford and comfortably maintain a larger home from the start.”
George Abouzolof, senior mortgage broker at Clifton Private Finance, said this is something he is seeing more and more.
First-time buyers are thinking “far more strategically” than they used to, he said, looking beyond the next three or four years and asking what kind of home will actually support their lives over the next decade or more.
He explained: “Traditionally, starter homes were smaller, more affordable properties designed to be transitional.
“Buyers would live in them briefly before trading up for somewhere bigger. Today, that model feels increasingly out of step with economic reality. Many buyers are choosing to stretch themselves earlier rather than pay twice.”
Transaction costs are part of the trend
Transaction costs are part of this, with stamp duty, legal fees, surveys and removals adding thousands of pounds to each move.
Abouzolof continued: “People are acutely aware of how expensive moving is.
“Once you factor in things like having to pay stamp duty, especially with first-time buyers exempt from this if their property is under £300,000, solicitor fees and the cost of refurnishing, the idea of trading up after just a few years becomes far less attractive.”
This is leading to people buying much later in life, often in their late thirties or forties when they already have partners, children or established careers.
At that stage, stability, school catchments and space can outweigh the appeal of a small starter flat.
Emma added: “We didn’t want to keep moving every few years. Before buying, we mapped out our finances over the next five years and made sure we’d still have room to invest and grow our income.
“This house isn’t just somewhere to live – it’s part of our bigger plan for security, comfort, and building wealth over time.”
First-time buyers are older
The average first-time buyer in the UK is 33 years old, two years older than a decade ago, according to figures from Britain’s biggest mortgage lender, Halifax.
With many coming to buy a property later in life, Gerard Boon of Boon Brokers said some feel it makes more sense to buy a long-term home.
“For some first-time buyers, skipping the starter stage ends up feeling less like an indulgence and more like a practical and financial step forward,” he said.
According to research from Mojo Mortgages, the average deposit for first-time buyers is a hefty £59,209, with the average amount borrowed amounting to £234,292.
Emma, who is originally from Nigeria, and her partner now pay just over £2,000 per month in mortgage repayments.
The couple are “very structured” with money, she said, and set a yearly budget which they review every few months to stay on track.
Emma and her family are much happier in their new home in Sittingbourne, KentShe added: “It wasn’t an impulsive decision – it was planned carefully. We made sure we were financially comfortable before committing.
“We haven’t had to make big sacrifices either. Our children still do their extracurricular activities, and we still enjoy family life.
“If anything, it’s just made us more mindful and disciplined with how we manage money.”
Longer mortgages pave way for people to borrow more
Longer mortgage terms, with some even extending to 35 or 40 years, are becoming more common too, Abouzolof said.
UK Finance figures show the average first-time buyers are borrowing on 31-year mortgages whereas a decade ago a typical term was 28 years.
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While this does increase the total interest paid over time, it allows buyers to afford larger properties earlier in life by keeping monthly repayments manageable.
For many, the trade-off feels worthwhile, Abouzolof highlighted, adding: “Buyers are prioritising quality of life and stability, and would rather commit to a longer mortgage on a home that works for them long term than feel squeezed into a smaller property that no longer suits their needs after a couple of years.
“Importantly, longer mortgage terms also offer flexibility. Many buyers plan to overpay as their earnings increase, or to refinance later when their financial position improves.”
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