2026 Checklist for buying a flat for the first time
Your 2026 checklist for buying a flat for the first time
Buying a flat for the first time is a little different to buying a house. You are not just buying the rooms you walk through. You are buying into a building, a set of shared costs and a long legal document that most people never think to ask about until it is too late.
None of it is as daunting as it sounds. You simply need to know what to ask, and when. For buyers looking around Richmond, Twickenham, Hampton and Teddington, that can be particularly important because the local market includes everything from converted period properties to purpose-built apartment blocks and newer developments, each with different leases, service charges and management arrangements.
At Dwelling & Manor, we always encourage first-time buyers to look beyond the presentation of the flat itself. Here is what to look at during the viewing, what your solicitor should investigate, and what has changed in 2026.
Start with the lease
Nearly every flat in England and Wales is sold leasehold. In plain terms, you own the right to live in the flat for a set number of years, while somebody else owns the building and the ground underneath it. That is why there are rules to follow and charges to pay, and they are all written into the lease.
If you are buying locally, do not assume two apparently similar flats in Richmond upon Thames will have similar lease terms. Even neighbouring buildings can have very different arrangements, so the lease needs to be considered as part of the property itself.
How many years are left?
Ask this before you make an offer, not after. Once a lease drops below 80 years, extending it can become more costly under the rules currently in force because marriage value may apply. Mortgage lenders also have their own minimum lease requirements, so a shorter lease can affect both your mortgage options and the flat's future saleability.
The Leasehold and Freehold Reform Act 2024 provides for marriage value to be removed under a new valuation system, but those valuation reforms are not yet in force as of August 2026. The Government is still working through the implementation process, so buyers should plan around the rules that apply today rather than relying on future reform.
A short lease does not automatically have to be a dealbreaker. It does mean finding out what an extension could cost, taking professional advice and reflecting that in what you are prepared to offer. The Leasehold Advisory Service provides free guidance on how lease extensions work.
What about ground rent?
Ground rent is money you pay to the freeholder under the terms of the lease.
What you want to look out for is a clause that makes it increase over time, particularly one that escalates sharply or doubles at regular intervals. Those clauses can create problems with mortgageability and resale. Read the clause itself rather than relying only on the figure in the property listing.
Is leasehold really being scrapped?
Leasehold reform is moving forward, but it is important to separate proposals from the law that applies to the flat you are buying now. The Government published a draft Commonhold and Leasehold Reform Bill in January 2026. The proposals include making commonhold the default for most new flats, banning most new leasehold flats and capping ground rents on many existing leases at £250 a year before they eventually fall to a peppercorn.
The draft Bill has been through pre-legislative scrutiny, but the final legislation has not yet become law. The House of Commons Library keeps an updated summary of where leasehold reform currently stands .
So what does that mean for you? Buy the flat on the lease you are actually being offered. If the lease is short, budget accordingly and take advice. Treat any helpful reform that arrives later as a benefit rather than something your purchase depends on.
Service charges: ask to see the numbers
The service charge pays for looking after the building. That will often cover the roof, communal areas, lighting, buildings insurance, gardens and the lift if there is one. In some developments it may cover much more.
Find out what the service charge is, exactly what it covers, and ask to see the last three years of accounts. Three things are worth a proper look:
Which way it is heading. A charge that has climbed steeply over several years deserves a closer look. Ask what has caused the increases and whether further increases are expected.
The reserve fund. This is the building's savings pot for major repairs. A healthy reserve can mean future work is partly paid for already. A weak or non-existent reserve may mean a larger bill when major work becomes necessary.
Anything big coming up. If the roof, lift, windows, exterior or communal heating system is due for major work, the leaseholders may have to contribute. Where qualifying major works trigger the statutory consultation rules, you may see this referred to as a Section 20 process.
Your solicitor will normally request the leasehold information pack, which should help reveal this. Do read it rather than skimming it. It is not the most exciting part of buying your first home, but it is often where the important surprises are found.
Who looks after the building?
Find out whether the building is managed by the freeholder, a managing agent, a residents' management company or the owners themselves. Good management is easy to overlook during a viewing, but it can make a major difference to what living in the building is actually like.
Look at the communal areas on your way in. Are they clean and maintained? Does the entry system work? Does the lift look cared for? If you are viewing a flat locally with Dwelling & Manor, ask us what information is available about the building and its management. Your solicitor should then verify the legal and financial position during conveyancing.
You can also check ownership information through HM Land Registry .
What to check while you are there
Damp. Trust your nose first. Then look for flaking plaster, staining and watermarks on walls and ceilings, and check skirting boards and ceiling corners. In a ground-floor flat, pay particular attention to the lower parts of external walls.
Cracks. Hairline cracks are common in many buildings. Anything large, unusual or apparently spreading is worth asking a surveyor about before you commit.
Water and heating. Run the taps and check the pressure. Ask how the property is heated, how old the boiler is if there is one, and whether the building uses a communal heating system.
Noise. If you can clearly hear a television, footsteps or a washing machine during a short viewing, think about how that might feel every day. Where possible, revisit at a different time of day. This can be particularly useful when you are buying near a busy road, railway line, town centre or late-opening venue.
In areas such as Richmond, Twickenham, Hampton and Teddington, the immediate surroundings can change noticeably between a weekday afternoon and an evening or weekend. A second visit can tell you as much about the location as the first viewing tells you about the flat.
Will it still suit you in five years?
Most people expect their first flat to be a stepping stone, but many stay longer than they originally planned. Look at it with that in mind.
Somewhere to work. A box room, a wide hallway or a decent alcove may be enough for a desk. A flat where the sofa is the only practical place to sit and work can feel restrictive surprisingly quickly.
Storage. Look for cupboards, loft access where included in the demise, bike storage or other useful space. If there is nowhere obvious for a hoover, suitcases or everyday clutter, the flat can begin to feel smaller once you move in.
Outdoor space. A balcony, roof terrace, private garden or shared courtyard can change how a flat feels, particularly through the warmer months, and it may also help when you eventually come to sell.
Getting in and out. Be honest with yourself about the stairs. Picture carrying shopping, a bicycle, a suitcase and perhaps a pushchair in future. If there is a lift, look at its condition and ask whether any major work is expected.
The rules you are agreeing to
Your lease will spell out what you can and cannot do. Common restrictions cover pets, flooring, structural alterations, changing windows or the front door, subletting and short-term lets.
If you are hoping to get a dog, work unusual hours, play an instrument, renovate extensively or rent the flat out at some point, check the lease first. It is a quick question now and can become an expensive problem later. Bigger works may also need other permissions, and in some situations a party wall agreement with a neighbour.
What it costs to run
Every flat marketed for sale should have an Energy Performance Certificate where one is required. It is worth reading because running costs can vary significantly. A well-insulated modern apartment may perform very differently from a top-floor period conversion, and the EPC also gives you an indication of potential energy improvements.
Add the service charge, ground rent where applicable, council tax, insurance for your own contents, utilities and likely maintenance costs to your mortgage payment. The monthly cost of owning the flat is more important than the mortgage figure on its own.
Your checklist for buying a flat for the first time
Take this with you when you are viewing flats around Richmond upon Thames:
Lease: How many years are left?
Ground rent: What is it, and does it rise?
Service charge: What is the annual figure and what does it cover?
Accounts: Can you see the last three years of service charge accounts and the reserve fund position?
Major works: Is anything significant planned or already being consulted on?
Management: Who manages the building, and what condition are the communal areas in?
Building safety: Are there any known fire safety, external wall or cladding issues that your solicitor needs to investigate?
Restrictions: What does the lease say about alterations, pets and renting the property out?
Practicality: Is there enough storage, outdoor space and suitable access for the way you expect to live?
Running costs: What is the EPC rating, council tax band and likely overall monthly cost?
The best first flat is not simply the one that looks right on the day. It is the one whose lease, building, costs and location still make sense after the excitement of the viewing has worn off.
Questions people usually ask
Should I buy a flat with a short lease?
Only once you understand the implications and what an extension is likely to cost. Under the rules currently in force, leases below 80 years can become more expensive to extend because marriage value may apply, and a short lease can also limit your choice of mortgage lender. Get specialist advice before you commit and factor the position into your offer.
How long should the lease be?
There is no single number that suits every buyer or lender. As a practical guide, a lease with around 100 years or more remaining gives a first-time buyer more headroom, but your solicitor and mortgage adviser should check the exact lease against your lender's requirements.
Can the service charge go up?
Yes. It reflects the costs of running and maintaining the building, so it can change. Looking at several years of accounts, the current budget and any planned major works is one of the best ways to understand where it may be heading.
What is the difference between leasehold, share of freehold and commonhold?
Leasehold means you own the right to occupy the flat for a fixed term. Share of freehold usually means you own the leasehold flat and also a share in the freehold of the building with other owners. Commonhold has no expiring lease term and gives unit owners a different structure for managing shared parts. Commonhold exists already but remains relatively uncommon; current reform proposals are intended to make it the standard tenure for most new flats in future.
Do first-time buyers pay stamp duty on a flat?
In England and Northern Ireland, qualifying first-time buyers currently pay no Stamp Duty Land Tax on the first £300,000 of a property costing £500,000 or less, and 5% on the portion between £300,001 and £500,000. If the purchase price is above £500,000, First-Time Buyers' Relief is not available. Your solicitor or tax adviser should confirm the position for your purchase.
Who pays if the building needs cladding work?
It depends on the building, the defect and whether the leaseholder qualifies for statutory protection. The Building Safety Act 2022 gives important protections to qualifying leaseholders in relevant buildings against many historical building-safety costs, including protections relating to unsafe cladding. Your solicitor should establish exactly what applies to the flat you are buying.
Talk to someone who knows the area
A good local estate agent will often know the difference between two buildings that look very similar online: how the location feels at different times of day, what buyers tend to ask about, and which details deserve closer investigation before you make an offer.
Dwelling & Manor is an independent, owner-led estate agency working across Richmond upon Thames, with a particular focus on Richmond, Twickenham, Hampton and Teddington. If you are buying your first flat locally, we can help you understand the property, the immediate area and the practical questions worth asking before you move forward.
We will always leave the legal advice to your solicitor and mortgage advice to your broker, but we can make the property search itself more considered, personal and informed.
Looking for your first flat in Richmond upon Thames?
From Richmond and Twickenham to Hampton and Teddington, we offer a personal, owner-led approach to finding and buying your next home. Explore our available properties or speak to us about what you are looking for.
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