Now or later? The best time for couples to buy a home 

When you’re making a life-changing decision like buying a home with your partner, timing naturally comes to the forefront of your mind. You might be wondering, ‘Is our relationship ready for this?’ ‘Are our finances in order?’ and ‘Are we both on the same page about what we want in the future?’ And, understandably, you’ll want to be clear on the answers. 

Every relationship has its own timeline, so the decision to buy a home isn’t defined by how long you’ve been together, but whether the practical pieces are in place. To help you decide if now is the right time, here are the key things to consider. 

Seven factors to consider before buying a home together

Interest rate changes 

Interest rates remain a hot topic following the Bank of England’s numerous cuts to the Bank Rate since August 2024. The Bank Rate affects the mortgage rates lenders offer; a lower Bank Rate means you could secure a better deal on your mortgage, leading to lower monthly repayments.  

It’s impossible to time the market perfectly, as everything from inflation to global events can affect the Bank Rate, so it’s hard to predict how the rate will change. However, based on current market conditions, the Bank of England expects that the rate could fall further in the near future. So, if securing a lower interest rate on your joint mortgage is a high priority, it’s well worth keeping an eye on potential changes to the Bank Rate. 

Property price increases 

Property prices are often the determining factor when deciding whether you can afford to buy a home. Rightmove predicts average UK house prices will rise by 2% in 2026. However, there are regional differences. For instance, in London, prices are expected to increase by just 1%. For a more detailed picture of property price trends in your area, you can search the UK house price index to see how prices have changed over time.  

Rising property prices mean you could end up paying more for a home if you decide to wait until a later date, as higher prices usually mean a larger deposit and mortgage, potentially stretching your budget and impacting the type of home you could afford to buy. 

Family planning 

It’s time to revisit those chats about the future you want to build together. Whether you’re still deciding if children are part of the plan or you’ve already chosen names, your family goals will play a key role in your buying decision. 

You might be weighing up whether to buy a smaller home now that suits the two of you or wait until you can afford something bigger that aligns with your long-term plans. Or perhaps children are on the horizon, and extra space is a more immediate priority. Either way, what and when you buy will be shaped by these considerations. 

Affordability is just as important. Waiting to buy bigger could mean paying higher prices, while buying smaller now may help you get onto the property ladder sooner and start building equity. 

Choosing a starter or a forever home 

Choosing between a starter home and a forever home often comes down to balancing short-term goals with long-term plans. 

Buying a starter home can be a strategic first step onto the property ladder, allowing you to build equity that you can then use to move to a larger home, a different location, or a place that’s more aligned with your long-term goals. If this is the case, it’s best to think strategically. Look for a home with strong resale potential and consider your mortgage term, as long fixed-rate periods can make moving more complicated if the loan isn’t portable. 

Alternatively, if you have a clear idea of your long-term plans and are ready to put down roots in a place you love, a forever home could be the wisest choice. Consider the size and type of property you’ll need long term, as this could mean delaying your purchase to save more until you can afford the right home. 

Career aspirations 

Careers often play a pivotal role in timing your property purchase, as stable employment can strengthen your chances of mortgage approval by demonstrating consistent monthly income. 

Choosing where to buy is often linked to work, too. While hybrid and remote working can widen your search radius, job changes are also a crucial consideration. Relocating for a role, pivoting paths, or an upcoming promotion that will boost your affordability could impact what, where and when you buy.  

If either of you has a career change on the horizon, you may feel more comfortable waiting until things settle. But if you’re both on stable footing at work, then now could be a great time to start your property search. 

Financial readiness 

Communication is a cornerstone of all relationships. Being able to talk to your partner openly and honestly about money is important when buying a home together, but so is being financially ready.  

Unless one of you is buying for both of you, buying a home together means applying for a joint mortgage. Before you get started, it’s beneficial that you both: 

• Clear any outstanding debts.

• Optimise your credit scores.

• Calculate your deposit savings. 

• Check affordability based on your dual income.

Taking these steps will give you a clearer picture of your financial position and buying power, and whether you need to take action, like paying off debts or boosting savings, before moving forward. 

Eligibility for buying schemes 

Buying a home together doesn’t mean you have to go down the traditional route of buying on the open market. Many couples could be eligible for buying schemes and not even realise it.  

If you both qualify as first time buyers, you could be eligible for buying schemes like: 

• Discount Market Sale: Buy a new-build property at a discount of up to 20%. 

• First Homes: Purchase a home in your local area with a minimum discount of 30%-50% off the full market value.  

• Shared Ownership: Buy a 10%-75% share of a leasehold home and pay rent on the rest, with the option to increase your share up to 100% in the future. 

If either of you currently owns or has previously owned a home, you could still be eligible for other schemes that aim to make homeownership more affordable, including:  

• Deposit Unlock: Buy a new-build home with just a 5% deposit while unlocking competitive interest rates on mortgages.  

• Own New: This rate reducer scheme allows you to purchase a new-build with lower mortgage interest rates during the initial fixed term. 

Each scheme has specific eligibility criteria, so it’s worth exploring them all to see which ones you could be eligible for. 

When is the right time to buy a home together? 

There’s no ‘one size fits all’ for couples thinking about buying a home together. It’s not just about timing your purchase with the ideal market conditions, but also when your finances, lifestyle and shared goals align. 

When you’re ready to take that next step together, start exploring your options with our property portal.