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  1. #31
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    I'm not sure about this. Whilst my parents didn't make me pay rent while I lived at home till maybe 23, they didn't give me anything for anything. I had to save my money, they taught me really well on that and I still use it now. I didn't want for anything but everything I have I achieved myself (not gloating just trying to explain) and I'm not sure which is the better lesson to learn

  2. #32
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    I can't actually see it being possible for us. We have a good 20yrs left in the workforce which a lot will go towards current mortgage & future/final house. Then we have to fund our retirement. I honestly can't see having surplus funds of any substantial amount.

    We do have savings for the kids, but it probably won't even buy them a car by the time they get it.

  3. #33
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    I would help the kids if we can. Housing prices are getting higher and higher and it's becoming unattainable to own property for a lot of people. So if they are working and saving money for a house, we will help when they need it. Either that or build a house on the farm for them so I can keep them close forever

  4. #34
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    Quote Originally Posted by ICanDream View Post
    I'm not sure about this. Whilst my parents didn't make me pay rent while I lived at home till maybe 23, they didn't give me anything for anything. I had to save my money, they taught me really well on that and I still use it now. I didn't want for anything but everything I have I achieved myself (not gloating just trying to explain) and I'm not sure which is the better lesson to learn
    I think there are many ways people can learn life lessons. If house prices were not through the roof maybe I'd be less inclined to help, but I just can't see my kids getting in to the market if they don't get help from us.
    For me, my parents helped me with a deposit (twice), but I was working full time before I was 16 years old, bought all my own clothes, paid for entertainment etc. and saved for my first car on a pay packet of $210 a week. At 18 I was earining $260 a week and moved out of home 6 weeks after my 18th birthday. I bought my first house at 19 years old (with my now DH). By 23 I was pregnant with my second child. I learnt and grew so much between 18 and 23, paying rent, bills, working full time...DH moved out of home at 17. He learnt and grew so much moving out of home early. Neither of us have ever moved back home. We both want our kids to move out and learn from being out than to stay at home until they've saved a house deposit on their own without our help. I have so many people tell us that our kids won't move out young, and should stsy at home for as long as they need to to save for a deposit and not waste money on rent etc; and I do understand that there are advantages to this, but if we can afford to provide them with a house deposit then we'd rather they do that.

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    gingermillie  (27-04-2017)

  6. #35
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    yes i think it's virtually impossible to get ahead without a leg up. everyone's doing it, which puts pressure on demand, which in turn drives prices up. so if you can't beat them, join them.

    even if i had the cash, i dong believe in buying them a house or car outright. it disincentivizes saving and trivializes the value of money. get of your bum and work hard, and ill match your efforts $ for $. or i will as much as i can afford to. i don't believe in free rides but i'm happy to assist those with a plan and who demonstrate their ability and willingness to work hard.

    i've invested in shares for ds, and we will continue to build up a portfolio for him so once he's ready, hopefully there's enough there for a decent deposit.

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    Chippa  (27-04-2017)

  8. #36
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    Quote Originally Posted by monnie24 View Post
    We are aiming buy kids a house each plus there savings
    can i ask why you would want to buy them their own house?

  9. #37
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    When I bought my first unit in Sydney 1992 (I was 21) the medium unit price was $90,000 the house price was $190,000 now nearly 25 years later units are $660,000 houses hovering just over $1,000,000 - can you imagine what they will be when DS wants to buy in 20 years

  10. #38
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    Quote Originally Posted by Full House View Post
    I think there are many ways people can learn life lessons. If house prices were not through the roof maybe I'd be less inclined to help, but I just can't see my kids getting in to the market if they don't get help from us.
    For me, my parents helped me with a deposit (twice), but I was working full time before I was 16 years old, bought all my own clothes, paid for entertainment etc. and saved for my first car on a pay packet of $210 a week. At 18 I was earining $260 a week and moved out of home 6 weeks after my 18th birthday. I bought my first house at 19 years old (with my now DH). By 23 I was pregnant with my second child. I learnt and grew so much between 18 and 23, paying rent, bills, working full time...DH moved out of home at 17. He learnt and grew so much moving out of home early. Neither of us have ever moved back home. We both want our kids to move out and learn from being out than to stay at home until they've saved a house deposit on their own without our help. I have so many people tell us that our kids won't move out young, and should stsy at home for as long as they need to to save for a deposit and not waste money on rent etc; and I do understand that there are advantages to this, but if we can afford to provide them with a house deposit then we'd rather they do that.
    Yes life lessons have a lot to do with it and so does the child probably - I have friends that were given everything and extremely ungrateful so I guess that colours my viewing of it as well.

    I'm not even sure we would be in a position to help even if we wanted to.

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    Full House  (27-04-2017)

  12. #39
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    I don't know what position we would be in, but I would love to be able to help my kids with a house deposit if I'm able to. Maybe we give 50% and they save 50%. But we have 4 kids born within 6 years, so i dont know how much we will be able to afford to give them each! I expect to buy them all a first car (nothing fancy but enough to get them around safely), & I'll allow them to live at home to save for a deposit if they choose that path. In my friendship circle, one moved out by 18, rented, worked a low-paying job, and never 'got ahead' - now in her 30's, she still struggles financially. Her sister stayed home rent-free to finish a uni degree, then worked 12 months whilst living at home, and saved the majority of her income for a house deposit. By 22 she had not only a better-paying job (thanks to the uni degree), a good deposit, and had purchased her own home. I know which one I would choose for my child!

  13. #40
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    To answer my own question, absolutely. But as others have said, it would need to be matched. Not dollar for dollar per say, but I would expect they already had been savings before I helped them. I don't see the value in just giving them everything. We've had very little help from family, and the minimal help we did have was when I was a teen just starting uni to simply live.

    I want to help, not enable.

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