Many Aussies want to help their children buy property - but for some it's just not possible
With house prices higher than ever and out of reach for many Australians, some people turn to the bank of mum and dad for help to buy property.
To find out how parents really feel about the idea of helping their children buy property, we asked readers for their thoughts in an exclusive Nine.com.au survey.
In response to the question "would you help your children buy property?", 47 per cent of readers voted yes.
READ MORE: Painful rent dilemma Aussies can't agree on
Most people with kids said they would help their kids buy a house. 9honey/Tara Blancato
A small number of 13 per cent voted no to helping their kids buy property, however, several commented that they have either helped or are helping their kids in other ways.
These include paying for university accommodation, a car or fruit and vegetable packages to help them save.
There was a further 11 per cent who said whether they help their children depends on various factors.
READ MORE: Shoppers flocking to this supermarket staple as prices soar
Some parents would only help their children buy property in certain circumstances. Getty Images/iStockphoto
And for many it seems helping their kids buy property isn't possible, even though they'd love to.
"Only if I could afford it," one said.
"Yes if I had the money," a reader commented
"Our house is left to them in our will but can't at the moment afford to assist them now," another wrote.
Meanwhile others are only willing to help in particular ways or would help financially to a point.
"If you mean financially, no. But for advice, and opinion , yez," one said.
"If they were motivated to buy, yes. I would never act as a guarantor for their loan though," a reader explained.
"Once they have saved up for deposit," wrote one.
"The children have to save at least a 10% deposit plus costs of settlement first," commented a reader.
Parents helping financially is one way for people to get on the property ladder. Getty Images/iStockphoto
READ MORE: Inside the abandoned 'Disneyland neighbourhood' with over 500 homes
Another said, "If my child has worked hard, saved money & acted responsibly with his pay but still couldn't come up with the deposit then I'd help. If he's been going from job to job & frittering away his money then NO!"
However, one parent's stipulation for helping their child buy property doesn't seem like too much of an ask, and something many would probably willingly comply with if they were serious.
"Not until the return a TXT in English," they joked.
FOLLOW US ON WHATSAPP HERE: Stay across all the latest in celebrity, lifestyle and opinion via our WhatsApp channel. No comments, no algorithm and nobody can see your private details.
