Want Your Kids to Move Out? – Four Different Ways to Help Your Kids Enter the Property Market

With over 30% of adult children still living at home it’s no wonder parents may have to consider working until they are 70! The challenge of home ownership for young Australians is an enormous issue. However the consequences for parents are just as new-home-owners-grant-riseconcerning. Studies show 46% of parents were happy to relinquish their empty-nest lifestyle and let children live at home longer if it meant children could save more money for a home deposit. In many instances this means parents have to re-direct some of their discretionary spending, take less expensive holidays, defer purchases and work longer simply to cope with the financial responsibility of having the children live at home. Parents need to consider the hidden costs associated with this option and the potential consequences on their future retirement lifestyle. So what are some of the solutions and the pros and cons that come with it? Let’s take a closer look at these options from both sides.

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