April 29, 2025 • 5 mins
DEBATE: Should Parents Buy Their Kids Houses?
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Tell us about this research that's come out Maxie.
Speaker 2 (00:02):
My god, it's this song still going.
Speaker 3 (00:04):
I think it's sad. It's time now it's overcooked. There
we go for that, all right.
Speaker 4 (00:09):
There is an article that's come out, some research showing
at seven out of ten parents over the age of
fifty in ten to give their children an early inheritance,
and a lot of them are doing it because it
will help the kids buy their first houses.
Speaker 3 (00:23):
Yeah, and I get everyone saying, now, how are our
kids ever gonna own their own house? Which I know
is scary because they are ridiculously expensive these days. But
I have a really strong opinion on this, and it's
probably because of how things people have said to me
in the past that have really irked me. First of all,
it's people that get given money from their parents to
(00:45):
put towards a house. And I know why the parents
are doing it because they want them to get the
property market. But it's those people that then become entitled
and will say to people, you should really get in
the property market.
Speaker 2 (00:57):
Right, so great to add to your portfoilo.
Speaker 3 (00:59):
Yeah, Like, I've got three houses now and it's a
great income. I'm like, but you didn't pay for that
you didn't work hard and slug your bum off to
try and pay for these houses.
Speaker 1 (01:09):
Your parents just gave you the money.
Speaker 2 (01:11):
No one likes those people.
Speaker 1 (01:12):
I hate those people.
Speaker 2 (01:13):
I do get that.
Speaker 3 (01:14):
Yeah, but it's I think it's just what happens if
you get given a massive lump sum of money by
your parents that you don't have to pay back. People
don't ever get the joy of like working really hard
to know that that happens. And also just they become
entitled and they just expect that that's what's going to happen.
Speaker 4 (01:32):
It's also very joys to just walk into a house
that you are not just on as an a side
that the people that you are most angry at there
are the people that have been entitled for their entire lives.
Speaker 2 (01:44):
Yeah, they're the.
Speaker 1 (01:44):
People that given stuff and I make everybody else feel
like crap.
Speaker 4 (01:47):
Yeah those people are a holes. But thanks if you
can be the person that it grows up. You grow
up in a household where you want your new pair
of jeans or whatever. As a teenager, you've say up
from your little crappy job at the footy or whatever
and you buy those jeanes. That is you learning the
value of money. But if you are a parent who can,
(02:09):
then at some point in their life, be at a
point where you're happy to I've got enough money that
I want my children.
Speaker 2 (02:16):
To have this.
Speaker 4 (02:17):
I think if you say, if you've brought them up right,
they know the value of money. If you get to
this point, the biggest purchase of their lives and you
can assist, I think that there's absolutely no reason you
shouldn't assist if you want to.
Speaker 3 (02:29):
I okay, So I think if your parent, if you
are going to assist your kids on doing this, you
should still do it so they pay you off, so
you go, okay, So you can't actually have this deposit
here's two hundred thousand dollars whatever. Who has that much
money anyway, But you can pay it off over the
years and you're going to get it in the end
anyway with inheritance. When if that, you know, long down
the track where they pass away.
Speaker 1 (02:48):
I'll tell you something.
Speaker 3 (02:49):
When I was fourteen, I always wanted to go to America, right, yeah,
this is this is related to this story.
Speaker 1 (02:54):
Trust me. It was my dream to go.
Speaker 3 (02:56):
So this is actually when I was much younger and
I was like, I really want to go to America.
I'm dad, like, we don't want to go to America.
We're going to go elsewhere. But if you save up
like three thousand dollars for your airfare, will take you
to America.
Speaker 1 (03:08):
It took me years, but I did it.
Speaker 3 (03:09):
I went and got a job when I was thirteen,
washing dishes, and I saved up, I got my airfair
I said, he go, mam and dad, can you please
take me?
Speaker 1 (03:15):
And then took me to America.
Speaker 4 (03:16):
So you learned the value of money. Yes, I understand that.
And then if you have learned that value, you don't
not learn the value. If at some point, when you're
thirty years old and you're trying to buy your first house,
your parents say, you know what, I'd like to help
you out, like to give you one hundred grand because
we're in a position where we can give this to
you and it's going to help you on your deposit.
It's going to help you get a nice house for
your first time.
Speaker 1 (03:35):
No, I disagree. I think I don't think you should
do it.
Speaker 3 (03:37):
I know that it's expensive now and it's really hard,
and if you can help your kids do it, but
they should pay you back.
Speaker 2 (03:42):
Yeah, it's a big if I understand it. Costs of
living is terrible. Yeah, if you can't do it, don't
do it.
Speaker 3 (03:47):
Yeah, but I don't want entitled kids. And I feel
like that's kind of the generation that is happening at
the moment where they just expect things. They want to
get a job straight away, and they want to be
on seventy five K when they're literally in their first job.
Speaker 2 (04:00):
What happened. Your parents didn't help you out at all
buying house?
Speaker 1 (04:02):
No, No, we didn't.
Speaker 4 (04:04):
We did.
Speaker 3 (04:05):
We saved, We worked really hard, and what we got
our first little.
Speaker 1 (04:09):
We got a unit. That was the first thing that
we bought.
Speaker 2 (04:11):
Yeah, we did it all ourselves. Lasa and I saved
up without the assistance.
Speaker 4 (04:15):
And then we got some pre inheritance from Nona passing away,
but a tiny amount.
Speaker 1 (04:20):
Yeah, but that's different.
Speaker 3 (04:21):
Someone's passed away. That's different that that's just that's you're
getting that anyway. You're not getting that just because here
we want you to get into the property market. I
did when I bought my first mirage, my Mitsubishi Mirage.
Mom and dad gave me eight grand to buy it
and then I paid them off over the years and
literally no interest.
Speaker 1 (04:39):
That's the thing. There's no interest, but I still paid
them off.
Speaker 3 (04:42):
We want to know what you think about this, because
I think it's it's dividing us and we'd love to
know your thoughts and maybe it's happened to you.
Speaker 2 (04:48):
Thirty one oh two three Should parents help their kids
buy houses? Yeah, if you're.
Speaker 4 (04:53):
In that position, if you've been in that position, we
want to know. We're on different sides of the fence.
Speaker 2 (04:57):
What side are you on?
Speaker 1 (04:58):
Thirteen one two three Give us a bus
Tell us about this research that's come out Maxie.
Speaker 2 (00:02):
My god, it's this song still going.
Speaker 3 (00:04):
I think it's sad. It's time now it's overcooked. There
we go for that, all right.
Speaker 4 (00:09):
There is an article that's come out, some research showing
at seven out of ten parents over the age of
fifty in ten to give their children an early inheritance,
and a lot of them are doing it because it
will help the kids buy their first houses.
Speaker 3 (00:23):
Yeah, and I get everyone saying, now, how are our
kids ever gonna own their own house? Which I know
is scary because they are ridiculously expensive these days. But
I have a really strong opinion on this, and it's
probably because of how things people have said to me
in the past that have really irked me. First of all,
it's people that get given money from their parents to
(00:45):
put towards a house. And I know why the parents
are doing it because they want them to get the
property market. But it's those people that then become entitled
and will say to people, you should really get in
the property market.
Speaker 2 (00:57):
Right, so great to add to your portfoilo.
Speaker 3 (00:59):
Yeah, Like, I've got three houses now and it's a
great income. I'm like, but you didn't pay for that
you didn't work hard and slug your bum off to
try and pay for these houses.
Speaker 1 (01:09):
Your parents just gave you the money.
Speaker 2 (01:11):
No one likes those people.
Speaker 1 (01:12):
I hate those people.
Speaker 2 (01:13):
I do get that.
Speaker 3 (01:14):
Yeah, but it's I think it's just what happens if
you get given a massive lump sum of money by
your parents that you don't have to pay back. People
don't ever get the joy of like working really hard
to know that that happens. And also just they become
entitled and they just expect that that's what's going to happen.
Speaker 4 (01:32):
It's also very joys to just walk into a house
that you are not just on as an a side
that the people that you are most angry at there
are the people that have been entitled for their entire lives.
Speaker 2 (01:44):
Yeah, they're the.
Speaker 1 (01:44):
People that given stuff and I make everybody else feel
like crap.
Speaker 4 (01:47):
Yeah those people are a holes. But thanks if you
can be the person that it grows up. You grow
up in a household where you want your new pair
of jeans or whatever. As a teenager, you've say up
from your little crappy job at the footy or whatever
and you buy those jeanes. That is you learning the
value of money. But if you are a parent who can,
(02:09):
then at some point in their life, be at a
point where you're happy to I've got enough money that
I want my children.
Speaker 2 (02:16):
To have this.
Speaker 4 (02:17):
I think if you say, if you've brought them up right,
they know the value of money. If you get to
this point, the biggest purchase of their lives and you
can assist, I think that there's absolutely no reason you
shouldn't assist if you want to.
Speaker 3 (02:29):
I okay, So I think if your parent, if you
are going to assist your kids on doing this, you
should still do it so they pay you off, so
you go, okay, So you can't actually have this deposit
here's two hundred thousand dollars whatever. Who has that much
money anyway, But you can pay it off over the
years and you're going to get it in the end
anyway with inheritance. When if that, you know, long down
the track where they pass away.
Speaker 1 (02:48):
I'll tell you something.
Speaker 3 (02:49):
When I was fourteen, I always wanted to go to America, right, yeah,
this is this is related to this story.
Speaker 1 (02:54):
Trust me. It was my dream to go.
Speaker 3 (02:56):
So this is actually when I was much younger and
I was like, I really want to go to America.
I'm dad, like, we don't want to go to America.
We're going to go elsewhere. But if you save up
like three thousand dollars for your airfare, will take you
to America.
Speaker 1 (03:08):
It took me years, but I did it.
Speaker 3 (03:09):
I went and got a job when I was thirteen,
washing dishes, and I saved up, I got my airfair
I said, he go, mam and dad, can you please
take me?
Speaker 1 (03:15):
And then took me to America.
Speaker 4 (03:16):
So you learned the value of money. Yes, I understand that.
And then if you have learned that value, you don't
not learn the value. If at some point, when you're
thirty years old and you're trying to buy your first house,
your parents say, you know what, I'd like to help
you out, like to give you one hundred grand because
we're in a position where we can give this to
you and it's going to help you on your deposit.
It's going to help you get a nice house for
your first time.
Speaker 1 (03:35):
No, I disagree. I think I don't think you should
do it.
Speaker 3 (03:37):
I know that it's expensive now and it's really hard,
and if you can help your kids do it, but
they should pay you back.
Speaker 2 (03:42):
Yeah, it's a big if I understand it. Costs of
living is terrible. Yeah, if you can't do it, don't
do it.
Speaker 3 (03:47):
Yeah, but I don't want entitled kids. And I feel
like that's kind of the generation that is happening at
the moment where they just expect things. They want to
get a job straight away, and they want to be
on seventy five K when they're literally in their first job.
Speaker 2 (04:00):
What happened. Your parents didn't help you out at all
buying house?
Speaker 1 (04:02):
No, No, we didn't.
Speaker 4 (04:04):
We did.
Speaker 3 (04:05):
We saved, We worked really hard, and what we got
our first little.
Speaker 1 (04:09):
We got a unit. That was the first thing that
we bought.
Speaker 2 (04:11):
Yeah, we did it all ourselves. Lasa and I saved
up without the assistance.
Speaker 4 (04:15):
And then we got some pre inheritance from Nona passing away,
but a tiny amount.
Speaker 1 (04:20):
Yeah, but that's different.
Speaker 3 (04:21):
Someone's passed away. That's different that that's just that's you're
getting that anyway. You're not getting that just because here
we want you to get into the property market. I
did when I bought my first mirage, my Mitsubishi Mirage.
Mom and dad gave me eight grand to buy it
and then I paid them off over the years and
literally no interest.
Speaker 1 (04:39):
That's the thing. There's no interest, but I still paid
them off.
Speaker 3 (04:42):
We want to know what you think about this, because
I think it's it's dividing us and we'd love to
know your thoughts and maybe it's happened to you.
Speaker 2 (04:48):
Thirty one oh two three Should parents help their kids
buy houses? Yeah, if you're.
Speaker 4 (04:53):
In that position, if you've been in that position, we
want to know. We're on different sides of the fence.
Speaker 2 (04:57):
What side are you on?
Speaker 1 (04:58):
Thirteen one two three Give us a bus
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