 Hi my name is Kromotso Sabakwane. I'm the head of property valuations and analytics at FNB. We're going to touch on a few topics regarding the property market and to be able to assist you to be more informed when going in your property buying journey. So I think first question. How do you identify the best location to buy into and some of the other considerations? When we look at property it is most likely going to be your largest purchase that you'll ever make in your lifetime. Not only that is is it just a building or property it was also most likely turned into something that is going to be a long-term asset that will grow over your life. But before that the thing about that is a property isn't just the building. This is the place where you're going to spend most of your life outside of your workplace and really the thing about that is it becomes your home. So you then I think for me the most important question is what are your needs? You have to ask yourself questions to say what are the needs that will best suit me at this point in time? Am I single or how will it accommodate me and my partner? Do we have children? How many do we envision ourselves to have at a later stage? Because then this will start dictating the types of property that you're looking at. For example, if you guys are parents you're going to want to start saying what are the type of schools that are available to me as a parent and for my child. And the other thing about that is you might find that the best types of schools might actually be a bit further away. Now from that perspective you might want to have a property that's closer there or the other thing about that is in this new remote working culture that we're living in some of us are finding that we have the opportunity to work inside the home more often than not. So from that perspective you might find that where you choose to be might not be related to how far your child school is anymore because you're now not concerned about your traffic situation and some of you might find that traffic is indeed a situation that you want to think about. So these are needs that you have to think about when looking at your property. The most important thing then really is then what can you afford. And I think that is something that all of us would want to have some type of relief in. So I think the best way for you to do that is to get yourself some type of pre-qualification. So feel free to go on to the F&B app where you can see how much you pre-qualify for by yourself or with you and your partner and then you'll be best informed and you'll feel confident about where you want to be able to buy. And then if you're a first time home buyer you can then also look into other considerations. Do you qualify for the FLISP government subsidy or if you're an existing home owner do you have equity in your existing home. So from that perspective we can assist you. You can either make use of our app or contact us and we'll make our team or professional valueers available to you so that you know the value of your home that the bank would be willing to finance it. And that just makes it a little bit more confident for you when selling your home so you know that the next buyer will easily be able to get a hold of your property. So what are things to consider when negotiating at the back of selling a property and how do you inform yourself in making that purchasing decision. So I think the important consideration is to say what is the average price in the market that you're looking at. And you can inform yourself by trying to understand how old is the home that you're buying in and what potential defects are sitting there. I think we all need to be aware that a home is a living thing. It needs maintenance from time to time. So if your home is brand new from a developer you can understand that he almost likely offers some type of warranty to the home. You'll have a snag list of things that need to be attended before you move in. But if you're buying an existing property from another home buyer you need to then look at this property and then understand to say are there things that I potentially need to fix up in the near future. Do I need to put on another coat of paint? Are there cracks that I need to attend to? Is there electrical work that I need to attend to? These are normal things that happen to a home but you don't want to find yourself in a situation where you're doing too much to the home. Realistically these are things that you should be able to review by yourself or get an independent person to take a look at it for you to then have a sense that whether this home is actually going to be too much work. And these are things that will also inform your buying decision to say do I need to negotiate down seeing that I have all these additional costs or quite frankly this is too much work for me and I'm willing to go look for another home that is less onerous for me to be able to rebuild. And I think the important thing about that is that you need to also then just make sure that you've come to be looked to see what is all the stock available that's listed in the market at the moment because one home may seem wonderful but you might find an equivalent home at a similar price that just has less effort involved. So feel free yet again going to the F&B app you'll see we've got quite a list of supplies available, property developers who have wonderful stock out there that's available for you to go to to potentially buy. So another question that comes up is how to not fall into a purchasing trap around overcapitalized properties and it's sort of slightly touches on the topic that I looked at previously. One make sure that you don't have an unnecessary amount of expenses in the home. You'll buy it at one price and then suddenly find that you've got an excessive amount of repairs that you need to do. And even then in an ideal home that's got no concerns you have to look at the type of property market that's happening in and around the area that you're looking. So you don't want to be the most expensive street in expensive house on the street let me rather put it that way. So in that way how you want to look at it is to say then at this market range do I believe that the suburb is going to be improving staying the same or deteriorating in some way. So from that perspective you'll have a sense of whether you're buying way too much but more importantly you want to see what are the active selling prices in the suburb that you're looking at and yet again you can look at our app where we have the ability to show you all the actual registered sales that I've gone through. So you have an understanding to be informed to say that I may be buying at this price in other homes I've been selling at slightly less and then you need to then understand to say that why is my home my potential home more expensive than everyone else. Is it that the price is too much so you might find that you're actually over capitalizing or that this home represents something unique that everyone else doesn't have it may have gone through some type of renovation cycle and in that way you then also need to question is everyone else slowly renovating because you're just sitting at the beginning at the forefront of this wave in that case then at least you have some comfort that you're not buying into to expensive but if everyone else isn't renovating then you start needing to ask yourself do I really want to be the most expensive home in the street and is everyone else going to catch up to me because whether we like it or not at some point all of us potentially have to move out of our current homes and you'll struggle to be able to sell your home at the value that you you bought to that and another question what are the benefits of benefits of buying in a sectional title versus full title and potentially in an estate so what is the sectional title I mean ultimately if you think about it in its basic way it's just a gate of community where we all live live together I think the benefit of that is that there's some safety aspects in mind there's peace of mind there's security controls if some of your parents you know that you can leave your children to run around with quite comfortably with all the other children and they won't get out onto the street and the thing about a sectional title is that you also outsource the maintenance of your gardening and painting and other general maintenance around the home but that comes at a price you need to pay monthly levies and the like and you also have to bear the body corporate rules and then when we compare to a full title that's when we think of the traditional home our grandparents grew up in a standalone property sitting on the stand by itself and in that way there's some more freedoms that you have that you otherwise wouldn't have in a sectional title you've got the freedom to just knock down a wall make it a little bit more open plan you can add a room and extend your home you can change the way your garden is but the cost of that is that you have to do your own maintenance you have to find your own suppliers or you need to wake up on a Saturday morning and then go move alone so for that freedom at least you know that you don't have monthly levies but recognize that the cost comes back in other ways and then when we look at an estate that's sort of a hybrid between the two you have something that's the almost you've got something where you have a full title property but sitting inside a gated community where depending on the estate you can maintain all of your own responsibilities and maintenance costs but understand that you do have some levies that you have to pay that maintain the common property the roads the boundary wall the the electric fence and some of the communal stuff that everyone gets to enjoy together but however you still get to maintain and have the freedom to change your own home in whichever fashion that you would like to do but you also have to be aware that you have to still follow the home owners association and whatever rules that they they have set down in terms of the community so if you want to know more please reach out to us on app at a branch at any one of our telephone contact centers or speak to your private banker