 Win your share of 5 million rand get a home loan and get one entry open a netbank account Move your salary and you'll get another 10 entries simply down star 120 stars 7 6 2 hash to enter make things happen netbank So as people progress through different life stages and their family structures and financial situations change So do their housing needs and preferences? We have Tim Akinusi with us in the loft who's the head of sales and client value management at netbank home loans I'll come back to him. Let me have you with us again. Thank you Bonnie So typically when you first leave your parents home You're looking to possibly rent an apartment. I mean what should we be thinking about at that stage of our lives when it comes to Eventually owning a home So, yeah, I think to start off with you know when you do leave your parents home And if you perhaps maybe don't get a windfall of some money to put into a new place The typical route is to start to rent because the rental you then just limit and you cap your expenses To just the rental the intention really is that you don't Go in there and just rent and continuously rent Over prolonged period of time, but really when you start renting you should be thinking about how to get into property So therefore you should be saving from from the onset Yeah, we don't think that there's any particular life stage that one needs to get into property It really is about when you are economically active and you have some savings You should get in and find something that suits your life stage at that point in time Yeah, right So the next stage of life is you've moved out of your parents home for a while And now you understand that you need to start investing in your future and buying your first home What are the most important considerations? I remember when I first bought my home I I think I made a few mistakes. I know far better now Hindsight's the best side, but what what do I need to consider? I think firstly when you are in the process of deciding on buying a house You should start to think about it from the time you even renting so you're never too young to get into the investment market and Property is one of those investment classes that that you can get into and the idea is that when you buy your first house You stay in it long enough to pay Some equity into it by paying down the the debt and over time you expect that the house Should the market conditions be correct to appreciate and value and when you eventually do sell that because your life Stage has evolved. Maybe you've now found a partner. You want to settle down you then have the ability to have Some savings based on what you've paid into the house as well as the appreciation of the of the property itself To then put a nice down payment into the next house Yeah, and by doing this what it allows you to do is to influence your loan to value so banks can see that you're committed to to this particular property and Secondly you have more influence over the rate that we give you on your property Yeah, and so that sits you off on a good course to continue to do the same thing pay more into that property The house appreciates and as your family and lodges you can then look at you know buying Your third home. Yeah, or even if it's just to be able to start to create some level of wealth By paying down this house and then leaving it as a legacy to your kids Yeah, or to do some of the things with it from an investor standpoint Yeah, is there such a thing as being too young to buy property? That's the great thing about it is that you're never too young as long as you are economically active and you can afford it It's the right thing to do because you are putting yourself in a position where over time You can create something that will be left for you over the next five to ten years so my view is that the narrative on Property being for the elder generation to change because as long as you have an intention of paying for the place and Looking after it it should serve you all as an asset. Thank you so much, Tim I'll definitely make better decisions when I'm buying my next property Ned Bank can help and assist you through all the different stages of life wherever you might call home Make the things that really matter happen with Ned Bank for more information visit www.nedbank.co.zr forward slash home loans When your share of five million rand get a home loan and get one entry open a netbank account Move your salary and you'll get another ten entries simply down star one twenty stars seven six to hash to enter Make things happen Ned Bank