First time buyers often get their sums wrong and nearly half the people endeavouring to clamber on to the property ladder said they had to lower their expectations once they started looking for properties and realised how much they cost, TheMoveChannel reported on Wednesday this week.

Unrealistic expectations were the main reason why many estate agents said they found first-time buyers both frustrating and time-consuming.

To help first-time buyers, Norwich Union teamed up with Phil Spencer, expert house finder and presenter of Channel Four’s Location, Location, Location to produce the top 10 tips for first-time buyers.

1. Sort out your finances. Find out how much you can borrow, get a mortgage offer in writing and find a solicitor to do the conveyancing - get one who isn’t overworked.
2. Write a search brief. List your ‘must haves’ and be as specific as possible. List the bonuses and no-nos. This will keep you focused and stop you falling in love with other people’s lifestyles.
3. Use the Internet for initial property research. Most agents have their own sites and TheMoveChannel will direct you to them.
4. Visit a few estate agents in a couple of locations and ask their advice. Explain you’re on a search-mission only and talk to them about your needs - budget, space, where you work, preferred schools, leisure pursuits.
5. Prepare a ‘Buyer’s Pack’. This shows you’re serious and can proceed speedily. This should include a mortgage offer, evidence of the deposit you have available, solicitor’s details and all your contact numbers.
6. Phone weekly. Don’t wait for details in the post, make weekly calls to your agents to find out about new instructions.
7. Begin viewing. Once satisfied a property fits your search brief, begin viewing and make sure you turn up on time.
8. View carefully and take notes of the layout and size. Consider how rooms might be changed - remember only two things can’t be changed - location and light. Have a second view at a different time of day, preferably at night.
9. Decision time. If you want to buy, make an offer in writing. If you think the asking price is high, start negotiations with a lower ‘shot across the bow’ offer.
10. Do not let go. To ward off gazumpers and make vendors feel morally bound to proceed, hassle your mortgage company to arrange the survey and communicate regularly with solicitors and estate agents.