Affordit guide
Can I afford a house?
Written by the Affordit Editorial Team
Affordit guidance and product content
Important note
Affordit is designed to help you plan before you commit. It does not run a credit check, connect to your bank account, approve finance or provide regulated financial advice. Use it as general planning guidance to sense-check your numbers.
Deposit affordability vs home affordability
Affording a deposit means reaching the upfront savings needed to buy. Affording a house means the wider monthly costs still work after you move in, including mortgage payments, council tax, bills, insurance, maintenance and repairs.
This difference matters because a property can look possible at deposit stage but feel tight later. A practical check should include service charges or ground rent where relevant, plus enough buffer for repairs and changes in bills.
Costs to include
- Deposit
- Mortgage payment estimate
- Council tax
- Gas, electricity and water
- Broadband
- Buildings and contents insurance
- Maintenance and repairs
- Service charge or ground rent where relevant
- Moving costs and furniture
- Emergency savings
Warning signs
- The monthly payment only works before bills
- You would use all savings on the deposit
- No emergency buffer remains
- Repairs or insurance are ignored
- Service charges are missing
- The plan relies on income increasing later
- A small rate or bill change would make the budget tight
A house deposit is not the only cash needed
A house deposit calculator should include the deposit percentage, property price, buying costs, moving costs and setup buffer. The useful question is how much cash you might need to buy, not just the deposit itself.
First home deposit planning can also include Lifetime ISA assumptions, but rules can change and withdrawals have restrictions, so always check current provider and GOV.UK guidance.
Costs to include before buying
- Deposit target
- Deposit percentage
- Solicitor or conveyancing
- Survey
- Mortgage or broker fees
- Stamp duty estimate
- Moving costs
- Furniture or setup buffer
- Lifetime ISA assumptions
Example scenario
Example: a mortgage payment may look similar to rent at £1,050 per month. But if council tax, insurance, utilities, service charge and a repair buffer add £520, the home may cost £1,570 per month before food, transport and savings.
How Affordit helps
Affordit helps you sense-check the wider home affordability picture by comparing upfront savings, ongoing costs, timeline and monthly pressure. It does not tell you whether a mortgage lender will approve you.
Common questions
What is the difference between affording a house and affording a deposit?
Affording a deposit means reaching the upfront savings needed to buy. Affording a house also includes mortgage payments, insurance, bills, maintenance and moving costs.
Can Affordit calculate mortgage approval?
No. Affordit is not a mortgage broker or lender and does not make approval decisions.
What hidden costs should I include?
Include solicitor fees, survey costs, moving costs, insurance, furniture, maintenance, repairs and emergency savings. Include service charges or ground rent where relevant.
Is it risky to buy with no emergency buffer?
Yes. Repairs, furniture, moving costs and bills can arrive quickly after completion, so keeping money aside can make the plan safer.
Does Affordit provide mortgage advice?
No. Affordit provides general planning guidance only, not regulated mortgage or financial advice.
Primary sources
These official sources support the rules or regulated concepts referenced on this page. Check them for the latest position before acting.
- Lifetime ISA rules
GOV.UK
Supports: Lifetime ISA eligibility, government bonuses and first-home withdrawal rules.
- Stamp Duty Land Tax residential rates
GOV.UK
Supports: Current residential property tax rates and first-time buyer relief in England and Northern Ireland.
Related guides
Useful next reads based on this topic.