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another artcile about how it isnt so hard to buy a house: youngster

Discussion in 'Property Market Economics' started by TMNT, 18th May, 2016.

  1. TMNT

    TMNT Well-Known Member

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    How I bought my first home at 23

    found this slightly amusing

    - dealer had never seen anyone turn up with $20k cash in $50 notes...........must have been a terrible car salesman
    - the point of the article was that it is possible for young ppl to get into their own home, but then he goes and buys an otp apartment
    - as usual the good old fashioned, work your butt off and make sacrifices approach has worked. good for him
    he willl be in his overpriced but brand spanking new apartment when its built. many steps ahead most of his peers Isuspect
     
  2. zed_kid

    zed_kid Well-Known Member

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    Lock in D, Eddie. No CG for the next 10 years and settlement risk
     
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  3. wogitalia

    wogitalia Well-Known Member

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    Just read that one... Do love that he claims he got no hand outs despite living at home expense free for 5 years, even at an ultra conservative 250 a week that he saved by not paying for insurances, utilities, rent and food, that would be a $65,000 contribution from his parents and another $50,000 they gave him by paying for his degree (assuming it's the average degree in Australia). So yes, he could afford a nice 395k apartment in Brisbane with a conservative $115,000 in financial help from his parents. Throw in another 15k he's "begrudgingly" claiming from the government and he only had 130k in handouts, or pretty much 1/3 of the price of the apartment.

    Once again we've got a spoiled rich kid who's parents have crafted his path getting up on a high horse spouting off about how easy it is for spoiled rich kids to buy a comfortably below average apartment and that everyone else who lives under normal circumstances are just whining.

    I'd love to see one of these articles that doesn't include parental handouts or inheritance, I'm sure it's possible they exist but surely the media knows that everyone can see through this load of crap and it would just be better to find someone who actually did it off their own back?

    PS. Credit to the kid for taking advantage of his situation and his parents wealth and using it to take the first step on the path to financial security but let's not act like this is a normal situation or indicative of how easy it is for the majority of people in his age group.
     
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  4. EN710

    EN710 Well-Known Member

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    Kudos to him for doing something.
     
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  5. Biz

    Biz Well-Known Member

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  6. Judi

    Judi Member

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    Terrible article,, I agree, no insights or inspiration whatsoever,,

    & the buying choices. >> buying a brand new car. & inner city apartment >> no asset appreciation in the near future, only depreciation

    But a young person could do a lot worse.
     
  7. Azazel

    Azazel Well-Known Member

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    What ever happened to that other young girl who had done it all on her own - with help, but not help, from her relos? Wasn't she up up and away with a new company in real estate?
     
  8. wogitalia

    wogitalia Well-Known Member

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    Is that the one who did it all on her own living rent free at mums place working in the job that her parents connections got her that bought the land in Scotland with the 100k or whatever it was that she inherited? #selfmade
     
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  9. Azazel

    Azazel Well-Known Member

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    I think that's the one. Money from Nanna or something as well.
    She was everywhere for little while there.
     
  10. Azazel

    Azazel Well-Known Member

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  11. Omnidragon

    Omnidragon Well-Known Member

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    Didn't read the article, but he bought an apartment? Big trouble
     
  12. Azazel

    Azazel Well-Known Member

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    And unless it was actually in Chinatown, no little China in sight.