You have been saving towards buying your first home and are ready to take the step onto the property ladder. Before you hit the streets to find your ideal home, take time to consider our guide below, to ensure you are best prepared to make the most expensive purchase of your life. How much deposit do you need? Before looking at properties, you need to save for a deposit. Generally, you need to save at least 5% of the cost of the home you would like. For example, if you wish to buy a home costing £150,000, you’ll need to save at least £7,500 (5%). If you are able to save a deposit greater than 10% of the house price, this is likely to give you access to a wider range of cheaper mortgages.