	{"id":106818,"date":"2024-11-07T11:27:58","date_gmt":"2024-11-07T00:27:58","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/news\/unlocking-homeownership-for-the-next-generation-a-guide-for-parents\/"},"modified":"2025-06-24T14:31:21","modified_gmt":"2025-06-24T04:31:21","slug":"unlocking-homeownership-for-the-next-generation-a-guide-for-parents","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/unlocking-homeownership-for-the-next-generation-a-guide-for-parents\/","title":{"rendered":"Unlocking homeownership for the next generation: a guide for parents"},"content":{"rendered":"<p><strong>WITH TRIBE FINANCIAL<\/strong><\/p>\n<p>Our recent first home buyers&#8217; night taught us as much as we think we shared.<\/p>\n<p>As a mortgage broker &#8211; and as someone who&#8217;s spoken to a lot of young, aspiring first-home buyers &#8211; I&#8217;ve learned a few things recently that I think parents and mentors need to know.<\/p>\n<p>Our recent night brought in a room full of young people who thought they were at least a year or two away from home ownership. They&#8217;d told themselves they needed way more time to build up a deposit or that their incomes weren&#8217;t quite there yet.<\/p>\n<p>But here&#8217;s the twist: by the end of the night, nearly everyone realised they could be in the market sooner than they thought\u2014now, or three to six months instead of a year or two. Perhaps one conversation away from being ready to pull the trigger. It was an eye-opener, even for us in the business. And it underscored something important: today&#8217;s young buyers often feel more daunted than they need to. The gap between &#8220;someday&#8221; and &#8220;now&#8221; is much smaller than they think.<\/p>\n<p>If you&#8217;re a parent or mentor, here&#8217;s why this matters to you. We&#8217;re likely to see interest rates come down over the next year, and with that, we&#8217;ll probably see a rise in property prices. Waiting on the sidelines could mean missing out on current prices; a 10 per cent increase on a $600,000 home could mean falling another $60,000 behind. This is where we need your support, not just for encouragement but to make sure they&#8217;re aware of what&#8217;s possible now.<\/p>\n<p>So, how can you help? Here are three ways to get that conversation started:<\/p>\n<p>1. Encourage early research &#8211; Suggest they have an initial chat with a mortgage broker. Even if they&#8217;re unsure, this can give them a clear view of where they&#8217;re at, how much they might borrow, and what deposit they&#8217;ll need. It&#8217;s a lot more<\/p>\n<p>informative than a quick Google search, I promise.<\/p>\n<p>2. Help break down the deposit myth &#8211; Many young people think they need a 20 per cent deposit to even consider buying. Let them know there are options out there. Current government schemes could mean a $600,000 purchase might only need a deposit of $35,000. Make sure they actually know the right numbers, and<\/p>\n<p>3. Encourage a long-term view, not just the here and now &#8211; A first home doesn&#8217;t have to be their &#8220;forever&#8221; home. Sometimes, buying a smaller, more affordable property gets them into the market sooner and puts them in a better position when they&#8217;re ready to upgrade.<\/p>\n<p>Your support could be just the nudge they need to get the ball rolling\u2014and who knows? They might be ready to take the plunge sooner than anyone expected. Let&#8217;s get the conversation going and see what&#8217;s possible.<\/p>\n<p>Considering something similar for your family and not sure what&#8217;s possible? Or have a question you&#8217;d like to ask our team? Email askus@tribefinancial.com.au<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WITH TRIBE FINANCIAL Our recent first home buyers&#8217; night taught us as much as we think we shared. As a mortgage broker &#8211; and as someone who&#8217;s spoken to a lot of young, aspiring first-home buyers &#8211; I&#8217;ve learned a few things recently that I think parents and mentors need to know. Our recent night [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/unlocking-homeownership-for-the-next-generation-a-guide-for-parents\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":241,"featured_media":106819,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-106818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Unlocking homeownership for the next generation: a guide for parents - Geelong Times<\/title>\n<meta name=\"description\" content=\"Learn how parents and mentors can support young first home buyers with guidance on deposits, early research, and market timing, shared by Tribe Financial.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/real-estate\/unlocking-homeownership-for-the-next-generation-a-guide-for-parents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unlocking homeownership for the next generation: a guide for parents - 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