Taking Advice from Your Parents, the Right Move or a Huge Mistake?

Parents can be a great resource for advice, sometimes whether you ask for it or not.

But should first time buyers be listening to parents when it comes to property planning and mortgage strategy?

First-home buyers are increasingly relying on the bank of mum and dad to get on the property ladder, but they also depend on their parents’ advice for everything from suburb selection to choosing a lender.

A recent survey by finder.com.au revealed house hunters value advice from their parents more than any other source, including professionals and their own research, with one in four people turning to parents as their first port of call.

Only 21 per cent of people undertook their own research as their first step, while 16 per cent sought advice from a financial planner.

Considering their influence, parents have a responsibility to provide sound property guidance. But more importantly, house hunters need to understand how the bias their parents may have could affect their property selection and strategy.

Read the full article

By |2018-03-19T14:36:16+11:00March 19th, 2018|

About the Author:

David Johnston
David is the Founder and Managing Director of Property Planning Australia, author of ‘How to Succeed with Property to Create your Ideal Lifestyle’, co-author of ‘Property for Life – Using Property to Plan Your Financial Future’ and a widely-published media commentator. With more than 20 years of experience, David is passionate about educating others to make informed, and ultimately, more lucrative property investment decisions. David established Property Planning Australia in 2004 – with the vision to educate and empower Australians to make successful property, mortgage strategy and money management decisions.  Property Planning Australia’s operations have earned acclaim and national industry awards for its unique fusion of property planning, education, money management, mortgage strategy and risk management. All supported by multi award winning customer service.
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