First-time buyer ‘has four regrets’ after purchasing London flat at 24 | Personal Finance | Finance

January 13, 2026 3,841

A young homeowner has revealed her deep regrets about purchasing property at just 24, wishing she had held off for a more spacious home. Adriana Goncalves, now 26, snapped up her one-bedroom flat in June 2024 via a shared ownership scheme, putting down a five per cent deposit of £7,000.

Living rent-free with her mother enabled her to squirrel away an impressive 70 per cent of her monthly earnings over seven months, making her solo purchase possible. While she appreciates the security of her neighbourhood and gets on well with those living nearby, Adriana has no intention of making the flat her permanent residence.

She’s now candidly revealed four major regrets about her purchase – particularly wishing she’d been more patient before taking the plunge, waiting for her pay rise to secure a larger property, failing to consider her exhausting commute, and not fully grasping the complexities of the conveyancing process.

The South London teacher explained: “I always knew I wanted to have moved out by the time I was 25. I think for me the biggest regret was I wish I had waited a bit longer before buying – as I was promoted at work during the process of buying.

“If I’d waited a few months, I could have used my salary increase and gone for a two-bed house in Essex rather than staying in London, which is more expensive.”

Her daily journey to another part of the capital currently sees Adriana spending up to an hour behind the wheel, and she’s calculated that relocating outside London could have trimmed up to 30 minutes off her commute.

She went on: “I think growing up I wanted to stick where I was and wanted to stay in London, but I didn’t realise the travel distance from where I live to where I work, which is in a different part of London from me. I guess the solicitor process in itself was confusing.

“This isn’t somewhere I want to stay long-term. I’ll maybe stay a few more years and then I have plans to go further into Essex or maybe Kent, maybe buying a two or three-bed house.

“I love the fact I’m close to Kent and I can go to Bluewater and love the fact it’s a whole new area to explore. Even the people in my area are friendlier than where I grew up and everyone says good morning and are friendlier in shops.”

She described the conveyancing experience as “a little bit stressful”, explaining: “I would get emails from solicitors saying ‘we’re going to apply for this’ or ‘we’re waiting to hear back on this’. They would summarise what they were waiting for – an application or a document.

“They would briefly tell me what the document was, but I would have to find out by doing my own research ‘what does this document mean?’ No one talks you through it.

“In the solicitors process things happen at the start. Then in the last two to three weeks they were rushing me to complete this form or that.”

Adriana is also convinced that purchasing a house represents “better” value than choosing a flat, particularly when considering the service charge costs associated with apartment living.

She added: “The communal work needed within my specific area where I live, for example, the communal park everyone can use, it’s the homeowners that pay for maintenance of it, which is something I never knew. If everyone in the public has access to it, it should be something the council pays for, not us.”

She further counselled prospective homeowners to avoid “rush” decisions and to visit a property multiple times to ascertain its suitability.

Adriana advised: “Go on different times of day and different days. Go during weekends and also come after work a few times to see what the actual area is like also.

“If you don’t rush and do more research you’ll get more for your money. Make sure you research the area well – you will be there for a few years, so you for sure have to feel safe where you’re buying.

“You unfortunately have to do your own research on the side, especially with the solicitor process. If you don’t have anyone in your family to ask for help, then research as much as you can.

“Watch videos, I watched a lot of YouTube videos and TikToks, and read as much as you can just so you’re also in the loop and know exactly what’s happening during each stage.”