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Good On Them!

#Post
1

https://www.stuff.co.nz/life-style/homed/housing-affordabili
ty/300450308/what-housing-crisis-young-taup-brothers-save-de
posit-for-first-home-while-working-for-minimum-wages-at-pakn
-save

Yes, sounds like they were living at home while saving, but it shows what can be done when you put your mind to it.

hound31 - 2021-11-13 12:20:00
2
hound31 wrote:

https://www.stuff.co.nz/life-style/homed/hous
ing-affordability/300450308/what-housing-crisis-young-taup-b
rothers-save-deposit-for-first-home-while-working-for-minimu
m-wages-at-pakn-save

Yes, sounds like they were living at home while saving, but it shows what can be done when you put your mind to it.

they rented, read the story.

gabbysnana - 2021-11-13 14:56:00
3
hound31 wrote:

https://www.stuff.co.nz/life-style/homed/hous
ing-affordability/300450308/what-housing-crisis-young-taup-b
rothers-save-deposit-for-first-home-while-working-for-minimu
m-wages-at-pakn-save

Yes, sounds like they were living at home while saving, but it shows what can be done when you put your mind to it.

at a quick look the numbers don't really add up.
its more than two years to save up that deposit, assuming each does half.
plus they would have to be working 60+ hours a week.
so basically if you work two jobs and go halves with someone (so basically 4 peoples income), you can get a foot in the door.

tweake - 2021-11-13 15:26:00
4
gabbysnana wrote:

they rented, read the story.


that might be renting off the parents, the rent is rather cheap.
it sounded like family owned a few properties.

it kinda sounds like yet another young person buying home with help from parents.

tweake - 2021-11-13 15:30:00
5

Homed=Propaganda

funkydunky - 2021-11-13 16:15:00
6

Hope it works out for them.

sweetgurl108 - 2021-11-13 16:24:00
7

Ah well, that'll teach me for posting a good news link...... all a pack of negative comments apart from the last....

hound31 - 2021-11-13 19:46:00
8
hound31 wrote:

Ah well, that'll teach me for posting a good news link...... all a pack of negative comments apart from the last....

I believe it is a great story. Thank you.

johnston - 2021-11-13 20:09:00
9

What on earth is WRONG with kids getting a helping hand from their parents? Is it just sour grapes and jealousy from those who make spiteful comments, because they didn't have the same help? Does that mean no-one else who is able to help their kids should be able to do so? It isn't a matter of spoiled entitled brats - it is possible for parents to help their kids financially while at the same time teaching them the value of things, and responsibility. My parents did that for me, and we have done it for our kids. They both still work very hard for everything they now have, and it was our pleasure to get them started. Good on those boys, and good on those parents.

kitty179 - 2021-11-13 20:11:00
10

its doable by many more too.

spead - 2021-11-13 21:09:00
11
tweake wrote:

at a quick look the numbers don't really add up.
its more than two years to save up that deposit, assuming each does half.
plus they would have to be working 60+ hours a week.
so basically if you work two jobs and go halves with someone (so basically 4 peoples income), you can get a foot in the door.

$333 each per week for 15 months = $43,000

Its really no harder to aave & buy a house now than it would have been for me during the 1980's. It was only possible during the later 1990's but a fully dedicated effort ( with a much higher return ) during the late 80's & early 90's would have been possible.

Someone i know just bought his house after saving from scratch for 3 years.

marte - 2021-11-14 02:56:00
12

Yes, well done, but there's much more to look at before the "anyone can do it" crowd starts spouting off.

For a start, if they were doing this today, their chances would be half of what they were last month.

sparkychap - 2021-11-14 07:53:00
13
marte wrote:

$333 each per week for 15 months = $43,000

Yep and the other $30K? $15K each from Kiwisaver would take 5 years each to save @3%. So the 19 year old would have been working full time since he was 14....

Edited by sparkychap at 8:45 am, Sun 14 Nov

sparkychap - 2021-11-14 08:44:00
14
kitty179 wrote:

What on earth is WRONG with kids getting a helping hand from their parents? Is it just sour grapes and jealousy from those who make spiteful comments, because they didn't have the same help? Does that mean no-one else who is able to help their kids should be able to do so? It isn't a matter of spoiled entitled brats - it is possible for parents to help their kids financially while at the same time teaching them the value of things, and responsibility. My parents did that for me, and we have done it for our kids. They both still work very hard for everything they now have, and it was our pleasure to get them started. Good on those boys, and good on those parents.

True, that is what Parents and Families are for. To help each other. Too many lazy people out there sniping, green eyed jealousy. Well done.

mulch_king - 2021-11-14 08:56:00
15

Great to see a positive success story, thanks for sharing OP. Hope you're having a wonderful Sunday morning

lyrad - 2021-11-14 11:16:00
16
kitty179 wrote:

What on earth is WRONG with kids getting a helping hand from their parents? Is it just sour grapes and jealousy from those who make spiteful comments, because they didn't have the same help? Does that mean no-one else who is able to help their kids should be able to do so? It isn't a matter of spoiled entitled brats - it is possible for parents to help their kids financially while at the same time teaching them the value of things, and responsibility. My parents did that for me, and we have done it for our kids. They both still work very hard for everything they now have, and it was our pleasure to get them started. Good on those boys, and good on those parents.

nothing wrong with it in itself.
but when its about the only way of doing it, it really separates the haves from the have nots.
lots of people do not have support from parents, and in turn they will not be able to give support to their children. that group is getting larger every day.
the old story of rich get richer.

when you have a "look at me anyone can do it" story, when really its someone with parents wealthy enough to give them a hand, they effectively work 2 jobs each, and even then it takes two of them combined to buy a house.
try doing it on your own with no support.

tweake - 2021-11-14 12:55:00
17
tweake wrote:

try doing it on your own with no support.

And remember they are buying in Taupo. Just try that in Auckland or Wellington. Mind you, at least minimum wage is higher in Auckland and Wellington.

sparkychap - 2021-11-14 13:01:00
18
sparkychap wrote:

And remember they are buying in Taupo. Just try that in Auckland or Wellington. Mind you, at least minimum wage is higher in Auckland and Wellington.

Yeah nah. Minimum wage is the same everywhere.

https://www.employment.govt.nz/hours-and-wages/pay/minimum-w
age/minimum-wage-rates/

committed - 2021-11-14 15:39:00
19
committed wrote:

Yeah nah. Minimum wage is the same everywhere.

https://www.employment.govt.nz/hours-and-wages/pay/minimum-w
age/minimum-wage-rates/

And luckily so are house prices.

sparkychap - 2021-11-14 15:40:00
20

What a society we live in. Where buying a house and being young is worthy of a news article.

sw20 - 2021-11-14 20:13:00
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