 Thank you, Jan. Well, you know what? Over the next couple of weeks we are tracking the journey of a first-time home owner and when buying a property What does it mean to get pre-qualified? Well, naturally when you want to buy a property You have to ask yourself what can you afford and that will be done closely working closely with your bank Naturally when looking to buy your first house you need to ask yourself the question How much can I afford and choosing to work closely with your bank will help you figure that out? Finances are a critical factor when buying property. For first-time buyers embarking on this journey Who better to give a realistic view of the financial implications than net banks lepoi machate? I'm looking at buying my very first property. Before I started my process, I worked out how much I qualify for. Why was that important? So Brett, it's important to get an indication of how much you qualify for as well as how much you can afford purely because it takes away some of the anxiety when buying a home for the first time. It also allows you to make an informed decision Before you go shopping for a property so that you know what kind of price range you're looking at. What exactly do you need to find out how much you qualify for? We would require your income as well as your expenses. So income as far as what your salary is Any additional income that you earn every month as far as expenses are involved That would include how much you spend as far as your living expenses and also your contractual debt So things like your monthly credit card installment or your vehicle installment You can go on to the private property website and get affordability calculators there Or you can go to netbank.coza and also find them there and it allows you to input your income as well as your expenses And it immediately gives you an indication of how much you can afford based on what you've put in Netbank also has an instant bond indicator Which does a necessary credit check in the background as well and it gives you an immediate indication of how much the bank is Prepared to lend you and when it comes to affordability, what should buyers know and consider? Affordability is quite key because it is part of the assessment that the banks use One of the things that works really well when trying to determine affordability as a first-time home buyer Is to draw up a list of all the things that you spend every month Also draw up a list of all the income that you earn and then once you have that monthly view It becomes quite insightful because now you have if you're exactly how much you have Leftover to pay for a bond installment. What other costs should a buyer be aware of or consider? Great question Additional costs include things like the attorney registration fees the bank initiation fee Then you've got your transfer duty and a transferring attorney fee, which is also part of the transferring additional costs There's also the ongoing costs that one needs to consider Things like rates and taxes levies if you're purchasing in a sectional title Water and lights and even the moving costs so to get a removal company to come and move your stuff into a new home Can also be costly throughout this whole process. I was surprised to find out how effortless it was I could do everything online. I didn't even have to walk into a bank We at netbank have found that first-time home buyers enjoy the online application experience Because it's a 24-7 channel. You can apply anytime anywhere and you've got all the information available at your fingertips Netbank offers a three-minute affordability and credit check that you can do on the go Whether it be through the app or via their website It's quick easy and paperless by completing the questions asked You'll get an immediate indication of the loan amount they could offer the deposit required and the estimated monthly instalment To make sure that you're financially secure to purchase your first property Speak to your bank and make use of the many online tools at private property dot co dot zeta Whether it's your first apartment in the city a trendy suburban townhouse or that dream family home on a golfer state There's a home for everyone on private property