Buying your first home together is one of the biggest milestones a couple can reach. It's exciting, it's meaningful — and it requires serious financial preparation. The journey from "we should start saving" to holding the keys to your own front door can feel overwhelming, but with a clear plan and a shared commitment, it's absolutely achievable. Here's how to get started.
1. Get Clear on Your Number
Before you start saving, you need to know what you're saving for. Research property prices in the areas you're interested in and work out a realistic target for your deposit — typically 10–20% of the purchase price. Don't forget to factor in additional costs like stamp duty, legal fees, surveys, and moving expenses. These can add up to thousands on top of your deposit, so the more accurate your target, the better. Once you have a number, the goal stops feeling abstract and starts feeling achievable.
2. Align on Your Timeline
How soon do you want to buy? Your timeline will shape everything — how aggressively you save, what sacrifices you're willing to make, and which savings products make the most sense. Have an honest conversation about this early. One partner might be keen to buy in two years while the other is thinking five. Getting aligned upfront avoids frustration down the line and helps you build a savings plan you're both committed to.
3. Open a Dedicated Savings Account
Don't let your house deposit sit in the same account as your everyday spending — it's too easy to dip into. Open a joint savings account specifically for your home fund and treat it as untouchable. Look for a high-interest savings account or a Help to Buy ISA (if available in your region) to make your money work harder while it sits there. Automating a monthly transfer into this account as soon as you get paid means saving happens before spending, not after.
4. Track and Trim Your Shared Spending
Buying a home often means making short-term sacrifices for a long-term reward. Take a close look at your joint expenses and identify where you can cut back. Dining out less, pausing subscriptions you barely use, or shopping smarter on groceries can free up more than you'd expect each month. OurWallet is perfect for this — it gives you both a clear picture of your shared spending so you can spot the leaks, make adjustments, and redirect that money straight into your home fund.
5. Check In on Your Progress Regularly
Saving for a home is a long game, and momentum matters. Set a regular date — monthly works well — to review how your savings are growing and whether you're on track to hit your goal. Celebrate the milestones along the way, whether that's hitting your first £5,000 or reaching the halfway point. Keeping the goal visible and the progress visible makes the sacrifices feel worthwhile and keeps you both motivated.
Saving for your first home as a couple takes patience, planning, and plenty of communication — but it's one of the most rewarding things you'll do together. Start with a clear goal, build strong habits, and lean on each other when motivation dips.
OurWallet helps couples track their shared spending and save smarter — so you can reach that front door sooner.