Your Wealth

How to Help Your Kids own their First Home

May 15, 2018

With capital city house prices having doubled in the last five years, many parents despair of their children ever being able to afford their first home, and wonder if they should be reaching into their own pockets to help. According to Digital Finance Analytics, the ‘Bank of Mum and Dad’ is providing up to $85,000 each to nearly 56% of first home buyers, and most of those buyers are already in their thirties1.

In our latest episode of Your Wealth, Gemma Dale interviews popular guest Katie Whiffen about how to tackle this critical issue:

  • How to determine if you can really afford to help your kids
  • Cash-free ways of helping your kids save for their first home
  • Which strategies of helping are fraught with danger
  • How to deal with complex family structures, and
  • How to structure your affairs so you and your kids can live happily ever after

You can access this and previous episodes of the Your Wealth podcast now on iTunes, Podbean or at nabtrade.com.au/yourwealth.

1 Digital Finance Analytics, 2 May 2018 (quoted in AFR and Domain.com.au)

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