Well said.Really???
All 3 of my daughters owned their own homes, no help from anyone. Yes my oldest is now deceased, but she bought her house at 23, the other two girls were 22, and 24 when they purchased.
They are now 24, 28, and should be 30 this year if still alive.
Work hard, get a good job, don't blow every nickel you make at your jobs between age 15 and say 23, and you can buy a house easily. Then rent out the basement as a mortgage helper, and pay it off. It isn't really tricky or difficult.
Nobody helped me with anything, and I am glad they didn't. It meant that I had to learn how to do it for myself.
My kids knew not to come asking for money for stuff like cellphones, college, cars, etc. Because they were aware that my answer would be get a job...or two or three or four jobs if need be. My youngest is a dental hygienist, she worked and saved money for college. When she had enough saved to go, she went to college and still worked.
In April she bought a house, at age 24. Her renter in the basement pays 58% of her mortgage, and she makes good money as a dental hygienist, plus she is also still a part time pool life guard for the city.
She makes $65/hour as a hygienist, and $38/hour as a life guard.
Stop coddling kids, and tell them to spread their wings and soar instead.
My 28 year old moved back in with me, but to help me, not because she had to, and I'm glad she did.
Her house that she bought at age 22, is now rented, and makes her money every month. But she may choose to leave and go back anytime, and resume the life she had, before flipping her own life upside down to come back here, and help me.
She is the 1 of my 3 girls who was like me, and hated school, and dropped out. She worked hard from age 16 to 19, and then went into business for herself, and is doing really really well.
My middle child is also the smartest of the 3, which most people probably wouldn't expect, considering that she was the high school drop out, and the other 2 went to college.
Kids are to coddled. Im proud of my kids, they always had my full support and advice on everything. They always knew they could come to me for anything, except money.
As young adults and teenagers they worked for whatever they wanted to buy. No I wasnt cruel or mean and grew up in a family where holidays and birthdays were a big thing for a special gift within reason. This is the way I too was raised and proud of it.
My parents when I was growing up were pretty wealthy but if I wanted something I had to work for it, they would lend me money, almost any amount but I paid it back like a bank loan with interest that was a little more reasonable than a bank, so it worked for the both of us.
My kids knew if they wanted something to work hard and earn it. They are now off on their own, have their own homes and family.
I know when I am no longer on this earth, no matter what happens in the world or the economy they will survive.
First week or maybe before the first week that my daughter started college in Clemson she already had a part time job to work in her spare time before her first day of school!
We helped out for part of and actually most of her tution costs but she paid for her own entertainment, trips, extras, clothes and took out student loans when the first year she missed the state scholarship by .1 grade point. She had to pay the money she lost.
Once done with college, as incentive I printed out amortization sheets on her college loans and how much she would save if she lived sparely and made extra payments. My wife and I matched an additional 50% of the extra money she was paying to the loan. She knocked it out in less than five years. Drove her crazy that all of a sudden loan forgiveness was around the corner. Thank god it never came to be after she worked so hard, gave up stuff her friends had so she could to pay them down.
All this time she always had second hand phones, drove a Pontiac Grand Am with 200,000 miles on it, she now drives a Ford Fiesta, ironically now, out of college, she is very successful but hates to waste money! *LOL* I want her to get a more substantial car!!
BTW- some of the most wealthy people (by no means the majority) do not feel the need to impress the public with expensive cars, to them, its just an object.
Anyway, pretty much, the same story goes for my son, he wasnt really college material but all along he worked part time jobs, sometimes a full time job and a part time job until he landed a job with BMW... now has a house, wife and two kids, living well.
The most rewarding thing to me as a parent? They actually appreciate the way they were raised. A lot of self esteem in what they have accomplished and they KNOW, they are in control of their destiny and no one else that seems to be lost in the media garbage.
With that said @CanAmAndMore your comments on real estate agents and the industry are so whacked out I wont even bother commenting.
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