As part of its 2021-22 Federal budget, the Federal government has announced a new scheme aimed at supporting eligible single parents to purchase a home. As explained on the Housing Australia website, the Family Home Guarantee "provides eligible single parents with dependants the opportunity to build a new home or purchase an existing home with a deposit of 2 per cent, subject to the individual’s …
Parents Still Helping Adult Children Get Into The Property Market
Many first home buyers in Melbourne are still relying on their parents to get into the property ladder. New research has found that more than a third of parents in Victoria provide up to $50,000 in assistance to their children. Data from Mozo.com.au revealed that 37 percent of parents helped provide deposit or acted as a guarantor on a home loan while their children continue to live with them. …
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