GUIDE
Buying residential property
Buying a home: A step-by-step guide
Whether you are purchasing your first home, investing in property, or looking for a second residence, buying property can be complex.
This guide explains each stage, from finding the right property and attending viewings to making an offer. We’ll also cover completing due diligence and finalising the purchase so you can start enjoying your new home as soon as possible.
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Finding the right property
Finding the right property starts with getting a clear idea on what matters
most to you.
Naturally, your budget, the location, and the property type will
need to be considered.
You should also keep the following in mind:
Property condition
Some properties may require renovations. Always factor in costs and timings.
Local amenities and transport
Proximity to schools, healthcare, public transport, parks, and shops can affect long-term value.
Lifestyle vs. investment goals
Decide if the property is for personal use, rental income, or long-term capital growth.
Market trends
Research local property trends and growth potential. Areas with regeneration plans may offer strong long-term investment opportunities.
Taxes and fees
Include land taxes (such as Stamp Duty in England and Northern Ireland), legal fees, and potential service charges in your calculations.
Maintenance charges
This could include upkeep of communal gardens, staircases or a shared driveway.
Top tip:
Make a list of non-negotiables versus desirable features to help you focus your search. Use Knight Frank’s global property search platform to search for and compare properties, get inspiration and local insights, track market trends, and access off-market opportunities.
Our team guides buyers far beyond simply finding a property. By combining local insight with a national and international network, we help clients understand the market, recognise genuine value and approach each purchase with clarity and confidence. The right advice at the right time makes all the difference.
Estimate your costs with our stamp duty calculator.
Key stages of buying a property
Buying a property typically begins with setting your budget and securing a mortgage in principle.
In some cases, buyers will need to sell their current home first to be in a proceedable position, allowing the purchase to move forward smoothly—though this isn’t always necessary. Once proceedable, the process continues with making an offer, arranging surveys, completing legal checks, and progressing through conveyancing to exchange and completion.
Registering with Knight Frank gives you access to specialist, personalised advice and early property investment opportunities. Our expert advisers will typically discuss:
- Your motivations for buying: first home, investment, or relocation
- Preferred locations and property types
- Properties already considered
- Funding options, including mortgages and financing
Where financing is required, specialist advisers can also assist with mortgage arrangements. Access our Finance Services hub.
Top tip:
Be honest and transparent about your budget and priorities. We are more than happy to set up alerts for suitable properties and schedule viewings to suit you. Using My Knight Frank, you can manage your search, save favourites, and receive exclusive updates before properties are publicly listed.
When a property catches your eye, you can arrange a viewing via the listing or your local Knight Frank office. Options usually include:
- In person: Ideal for evaluating space, condition, and getting a feel for your surroundings. This is also great for getting your questions answered, straight away.
- Virtual tours: This is useful for remote buyers and international investors, or for those who might find it hard to take time out from work and other responsibilities. You can always narrow your search and attend in person at a later date.
Viewing residential properties gives you the chance to assess whether a home meets your practical and lifestyle needs. Key points to consider include:
- Condition and maintenance needs: Check walls, roofing, plumbing, and electrics.
- Neighbourhood character: Have a look at the nearby homes, local schools, noise levels, and community atmosphere.
- Transport and amenities: Evaluate convenience for your lifestyle requirements.
- Parking and outdoor space: If these are important to you, make sure you factor this into your search
- Planning restrictions: Ensure you understand permitted works, leasehold terms and any other planning-related issues.
- Ownership structure: Freehold, share of freehold, or leasehold arrangements may affect long-term costs.
Offers are submitted through the Knight Frank team. We’ll present them to the seller and advise on strategy. If accepted, you’ll move into the due diligence phase. When making an offer on a property you need to:
- Confirm funding: Ensure your mortgage and/or other financing is secured.
- Instruct legal advisers: Conveyancers or solicitors will manage contract and legal checks.
- Make sure you understand the full costs: Factor in taxes, fees, and any immediate repairs or upgrades.
To comply with regulations and ensure secure transactions, you will be asked to provide:
- Proof of identity and residential address
- Source of funds and wealth for purchase such as proof of salary or business income, investments or long-term savings
- Corporate documents if buying via a company
You should also engage a qualified residential building surveyor to assess the structural condition and advise of any defects or repairs.
Find out more about our residential building consultancy services.
Top tip:
Have documents prepared early to avoid unnecessary delays. Our team can guide you through compliance requirements expertly and efficiently.
Conveyancing is the legal process transferring property ownership. Key steps include:
- Reviewing the property title and past ownership
- Confirming any restrictions, rights, or obligations
- Negotiating contract terms
Top tip:
Keep in close contact with your conveyancer. Regular communication will help to keep the process on track.
When contracts are exchanged your purchase becomes legally binding. Typical steps include:
- Paying the deposit
- Agreeing on the completion date
- Buyer arranges insurance
Top tip:
As outlined above, once the contracts are exchanged, your commitment is legally binding, so ensure all financing and insurance are in place. Your solicitor will support you in preparing for this milestone with clear guidance.
On completion day the usual steps include:
- Remaining funds are transferred to the seller
- Legal ownership passes to you
- Keys are released for immediate occupancy
Our team continues to support you, post-purchase, including property management or rental considerations.
Next steps
Buying property can involve multiple steps, regulations and professional advisers, particularly when purchasing in international markets. Working with a global property consultancy such as Knight Frank provides access to expert local knowledge across key property markets worldwide.
Our advisers support buyers at every stage of the process, from identifying the right location and understanding the best areas to invest in property, to coordinating agents, legal advisers and financial specialists. With a global network and deep market insight, our specialist residential team helps streamline the property buying process, making investing in property more informed, efficient and secure.
Our team will guide you through the entire buying process.
Frequently asked questions
The property buying process typically follows several key stages, although the exact details may vary depending on the country or local regulations.
In most markets, the process involves:
- Searching for suitable properties based on your budget, location and requirements.
- Arranging and attending property viewings to assess the property and neighbourhood.
- Making an offer through the property agent.
- Completing due diligence, including legal and financial checks.
- Following the conveyancing process through to exchange of contracts.
- Submitting the deposit.
- Completion, when funds are transferred and ownership is officially transferred to the buyer.
The timeline for buying property varies widely depending on the country, financing arrangements and legal processes involved.
On average, the process can take between four weeks and several months from having an offer accepted to completing the purchase.
Factors that influence the timeline include:
- Mortgage approval and financing arrangements
- Property surveys and inspections
- Legal due diligence and title checks
- Negotiations between buyer and seller
- Local legal requirements and changes to the conveyancing processes
Buyers purchasing in international markets may also need to allow additional time for cross-border documentation and tax considerations.
When buying residential property, the purchase price is just one part of the total investment. Buyers should budget for additional costs that may apply depending on the country and type of property.
Common costs include:
- Property purchase taxes or stamp duty
- Legal or conveyancing fees
- Property surveys and inspections
- Mortgage arrangement fees
- Registration or notary fees
- Insurance and moving costs
First-time buyers in some markets may benefit from reduced property taxes or exemptions, while investment properties may be subject to different rates.
A specialist residential property adviser can help estimate the total cost of buying property in a particular location and help to ensure there are no unexpected expenses.
Yes, international buyers can purchase property in many countries and territories around the world, including the UK, although the rules and regulations vary by jurisdiction.
International buyers may need to consider:
- Local ownership laws and restrictions
- Visa or residency requirements in certain countries
- Tax implications in both the purchase country and their home country
- Currency exchange considerations
- Financing options for non-resident buyers
Property can be an attractive long-term investment, offering potential capital growth, rental income and portfolio diversification.
Many investors choose property because it can provide:
- Stable long-term value growth
- Tangible assets that can generate income
- Diversification alongside other investments
- Opportunities to add value through renovation or development
However, property investment outcomes depend on factors like location, market conditions, economic trends and the type of property. Understanding the best areas to invest in residential property, local demand and long-term market trends is essential for making informed decisions. Experienced real estate advisers can help identify opportunities that align with your investment strategy and risk profile.
Deposit requirements vary depending on the country, lender and type of property purchase. In many markets, buyers typically provide between 5% and 20% of the property price as a deposit. Investors or international buyers may be required to provide a larger deposit depending on financing arrangements.
Yes, first-time buyers can invest in property, although lending criteria and tax rules may vary depending on the country. Some buyers choose to purchase a property to live in initially and later convert it into an investment asset. Understanding local regulations and financing options is important before investing. A specialist property advisor like Knight Frank can help with this.
The best areas to invest in property often combine strong economic growth, good infrastructure, population growth, and high rental demand. Cities undergoing regeneration or areas with new transport links can also offer long-term investment potential. Local market insight is essential when evaluating property investment opportunities.
In most countries, a lawyer, conveyancer or notary is required to complete the legal transfer of property ownership. They conduct due diligence, review contracts and ensure the transaction complies with local laws. Professional legal guidance helps protect buyers throughout the purchase process.
Yes, many buyers purchase property remotely, particularly when investing internationally. Virtual viewings, digital documentation and remote legal processes make it possible to complete transactions without being physically present. Working with a trusted property adviser can help coordinate the process efficiently.
