2025 Property Tax Changes For First-Time Buyers

The recently announced property tax changes for 2025 will affect a lot of different people in different ways. However, by knowing how all the changes impact different people can feel overwhelming. So, in this blog post we share how the 2025 property tax changes will affect first-time buyers. We will also share tips on how first-time buyers can prepare for the property tax changes in 2025.

A good place to start, as a first-time buyer, is your budget plans. These will need reviewing. Take the time to reassess your financial plans and budget so you can accommodate the potential increase in both tax liabilities and associated costs. You may choose to work at increasing your deposit to mitigate the impact. Take the time to look at other financial options that can also reduce the impact on your finances.

We would recommend that you keep a close eye on property prices too. Make sure that you stay informed and up to date with market trends and property prices. This will help you be better placed to understand the changes and how these could affect your purchasing power.

It is recommended that you seek professional financial advice. Speak to a financial advisor. They will help you explore and understand strategies for managing the increased tax burden. A professional financial advisor will also help to ensure that you are financially prepared for the new thresholds.

If your finances and personal circumstances allow, and you are in a position to be able to complete your property purchase before the new financial year, then do so. This will help you to avoid increased tax liability. The 2025 property tax changes for first-time buyers for SDLT and CGT are likely to result in higher costs.

Need help from a friendly conveyancing team in Peterborough? Call our team now. We can answer any queries you might have and help you to fully understand how the 2025 property tax changes could affect you as a first-time buyer.