Channel 4 property expert Phil Spencer has shared his top tips for those looking to buy their first home and has stated that a lot of research will help people out.

Known for presenting shows such as Location, Location, Location Spencer was speaking at The Ideal Home Show in Olympia London.

The show is the world’s longest-running home and interior exhibition and will be held until Sunday, April 2.

The 53-year-old gave numerous tips concerning budgeting and selecting an estate agent as well as what to do when looking to buy a home for the first time.

Newham Recorder: Phil Spencer had a few tips for first-time buyersPhil Spencer had a few tips for first-time buyers (Image: The Ideal Home Show)

Phil Spencer's top tips for first-time buyers

Speaking at The Ideal Home Show Spencer said: “It's all about preparation and research. Before you go looking, before you step foot in to a property, there's a lot of research and preparation to be done. 

“The first thing really to do is work out how much you can afford. So go and see an independent financial adviser or broker and get your budget pinned down – you can't go shopping for something until you know how much you've got to spend. 

“Once you know what you've got to spend, then you can think about where you could buy a one bed or a two bed, whatever you're looking for and identifying the areas. So it's a gentle process, money, then area and sides of property and having done that, then you can start looking”.

Tips on selecting an estate agent

Spencer also gave some advice on selecting an estate agent for when you wanted to move.

He said: “It’s a really bad idea to choose an agent on the basis of price. Your house is your most valuable asset, the most valuable, expensive thing that you own – deal with it properly. Give it due care and attention and pay proper money to have it dealt with and to get good advice. 

“I genuinely don't think there are many unscrupulous agents out there anymore. They have a bad reputation that has come with them from a long time ago, and whilst there are definitely some dodgy practices out there, I genuinely believe those times have gone. 

“My advice would actually be to look for a Property Mark agent – Property Mark is the biggest umbrella group of agents who are coming up with their own regulation. They're getting agents to take exams and to follow a code of practice. So, look for an agent that belongs to that umbrella, I think there are 18,000 agents within that umbrella and it's a good safe place to be.”