Should You Sell Shares for a House Deposit? (+ Buying Property With Family)

My name is Natasha Bambleett.

I'm a proud first nation's woman,

and I'm here to acknowledge country.

Tee, Glenyan Ganya, Neyana Gaka Yalya, and Ben Awaka.

Neyana Ganya, and Beni Yakarumja,

Dumanya Gumiga, Dumanya Ithawaka,

Nidawaman, Daman Imalan.

Momobangara, Bama, Ninyalanwaka,

Ganya, Yakarumja, Wutuna Rana.

Hellay, beautiful friends.

We gather on the lands of the Aboriginal people.

We thank, acknowledge, and respect,

the Aboriginal people's land that we're gathering on today.

Take pleasure in all the land and respect all that you see.

She's on the money podcast,

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bringing you the tools, knowledge, and resources

for you to thrive.

She's on the money.

She's on the money.

Hello and welcome to She's on the money.

The podcast that makes personal finance fun,

especially on Fridays.

Friday is our favorite day of the week

because it's when we get the team together

and celebrate you.

Our incredible She's on the money community.

Today, Ms. Jasgrici,

we'll be sharing some of our favorite community money wins.

Ms. Bexayed, we'll be sharing your broke tips of the week

and we'll be hoping to answer a money dilemma

that asks the question,

should you sell your shares to use them

for your house deposit?

And a DM that you slid into our inbox with

that's all about an offer to buy an investment property

with a family member

when you haven't bought your own home yet,

which I think all sounds very interesting,

but we always like to start our show

with a five-star review.

Boosts our ego reminds you guys why you're here,

but also you're just so nice.

Now, Jas, this review isn't just about you this week.

Last week's was, I'm very sorry.

I'll power through.

But we've got one.

We've got one.

It's from Evangeline.

She said, I finally could afford the dentist.

Hear me out, this might sound strange,

but for at least six years or more,

I've convinced myself that I can't afford the dentist,

which is beyond terrible I know.

But as someone who struggles to save,

I've only ever heard stories of people

visiting the dentist after years

and getting bills of more than $5,000,

and for someone who's always had less

than $1,000 in her account,

I convinced myself I just couldn't afford it.

At the start of this year,

I started listening to shares on the money.

I signed up to the budgeting course

and I have made such big tracks.

I went to the dentist on Monday

and it ended up costing me nothing.

Whoa!

It was covered by my private health.

I have $1,200 in emergency funds,

$80 in a holiday fund,

$75 in shares is, and I've paid down my debts.

I know it's only the start,

but I'm surprised with how far I've come in less than a month.

I can't tell you how much I appreciate your content

and forgiving me the power and the education

to take control of my finances.

PS, all your messaging around letting go

of the guilt for your past decisions

because you didn't have the tools and resources

to make the best decision has been a total game-changer

for the way I approach my finances.

That's amazing.

Evangelying.

That's incredible.

Also, your name is beautiful.

That's amazing.

That is incredible.

The fact that dental care is not part of Medicare

or it's wild, it actually makes me angry,

but that's the start for another time.

That is incredible.

That is really incredible and very, very good for you.

I'm just so excited.

Like, stories like this,

they come out of the community

and I'm like, this is why we do what we do.

Like, I'm so excited for every other financial goal,

but for people to be able to go,

I'm not scared of the things I need.

Like, you need to see the dentist.

Like, the fact you avoided it because of money.

Oh, I'm just so excited that that's not your reality anymore.

That's amazing.

All right.

Now, it's time for question of the week.

It's that part of Friday drinks

where you get to ask us one question

that you are dying to know.

It could literally be anything.

And this week's question comes from Carly

and she wants to know,

if you could have dinner with one person dead or alive,

who would it be and why?

Oh, that's so hard.

I'm thinking for like,

because I might feel shy or awkward.

And I don't like this.

Nobody.

Yeah, this is really silly.

Like, realistically,

because I know it wouldn't happen,

but if it had to happen,

someone was like,

oh, here's a complete stranger.

Do you like this person?

You may be a fan of this person,

but it's just you guys together having dinner.

In already a dinner situation,

where you're seeing a cross the table from someone,

I don't like it no matter who I'm with.

I would just pick my girlfriend,

but if it was, if I had to.

I heard a cue.

I would end because it was like,

just if it feels so awkward.

It's a hard one.

I think Amy Taylor from Amel and The Sniffers.

Wash that is rogue.

I love her.

She's so like, ask, you know,

she's so like, just chill down at her.

I don't imagine she'd be like,

I think I wouldn't have to worry about like spillage

or like not putting the fork on the right side of my plate

when I'm finished eating.

Like, I wouldn't have to worry about these little things.

Like, she wouldn't care.

So I think it'd be Amy Taylor.

This question just really sends me for six

because I spiral.

It's like, I only get one per,

and then I start going, God,

who's the person I want to eat the most?

Who is the person who I could learn the most from?

And then I just like really like,

I'm doggy paddling around in my brain basically.

Like, there's so many people I would love to meet.

I would love to meet Deli Parton.

Oh, because she does a lot of charitable stuff.

Like, she's very cool.

She's funded incredible campaigns

that bring books and education to children.

I would love to meet like a lot of historical women.

I think it's very interesting to think about like,

a Queen Elizabeth or like,

which I know is so random and it's not

because I'm a royalist or anything,

but it's just, it would be so interesting

or even like a woman from my ancestry.

Do you remember back to 500 years?

So just see what has changed.

Or like, you know, there are so many women

that have played really pivotal roles in things

throughout the years, you know, like Rosa Parks

or I can't remember her name,

but the woman who wrote the code for Vanessa.

Yes, Vanessa.

I was like, what is the rocket company?

But you know, there are so many women

that have just done amazing, amazing, amazing things.

Or Michelle Obama, I would love to meet that woman.

Michelle Obama, like, yeah, I would want to meet a woman

and I just have a long, long list,

honestly, I have a long,

I can't just pick one.

Taylor Swift, I'd love to meet Taylor Swift.

Is that like, that's a bit of vapid,

but like, God, I love that woman.

Yeah, that's not a good vapid.

I can't pick one.

I just can't, I'm not good with favorites.

I really struggled to pick.

Oh, you're so cute.

Favorite color, favorite food, like I can never do it.

But anyway.

That's an incredible answer.

Oh, thank you for your amazing wild card.

I can't wait.

I feel like you guys are gonna be like,

expecting something from me.

Oh, I think I know.

Who?

Warren Buffet.

Oh, my God.

Yeah, like, that's what I think you expect.

Warren Buffet, all that.

Are you proud of something?

Yeah.

Wild card.

I want you to have dinner with 60 year old me.

Oh, that's a great answer.

That's a good one.

I want to have dinner with her and be like,

what do you think your regrets are?

Like, how cool would that be to be like,

what do you wish you did more of

or like, what are you proud of

or what, like, how cool would that be?

That would be amazing.

Again, maybe that's vapid,

because I would make my own life better for that.

But I just think that,

yeah, I was thinking about it.

And maybe I got the privilege of thinking

about it longer than you guys,

because you were like struggling with it back.

And so did you just think like,

oh, what do I want?

And I was like, oh, you know, Michelle Obama

and then you said it.

I was like, yeah, like, Taylor Swift, yeah, yeah.

And like, all of those people would be really cool,

but I want something that would be impactful.

And I mean, you already said it's not possible.

So, it may as well be the old version of me.

Like, yeah, that's so good.

Like, is Botox worth it until I'm 60, you know?

Yeah.

Not actually, but just, you know,

what was your best spending habit?

Like, oh, what do you regret?

Or like, how did life pan out?

Do I want to know that?

I don't know.

That's like that question, like, if you knew

how you were going to die, would you want to know?

Like someone said, hey, like,

this envelope has like the date and time

and like, circumstances of your death, do you want to read it?

No.

Would you read it?

I think I'd want to know.

You?

Oh, no.

And since it's all that sends me for a spiral.

It's just, don't get it started.

If you've already had one existential crisis this week,

I'm really sorry, Jess, we're going to move off that

because I can't have just having another existential crisis.

So I'm taking leave and I just can't afford that right now.

But if you guys have a question that you want us to answer,

please leave it in the comments.

We would love to get to it.

Now, talking about getting to it,

it's just great, cheap, community money,

wins and confessions, what have you got?

All righty, firstly this week,

I've got one from Ruby who said after six months

of her house being on the market

and her being screwed around by the real estate agent,

she finally switched agents

and her home sold within five hours.

Stop it.

Stop it.

These are that crazy, five hours.

That's insane.

Congratulations Ruby, that must feel so good.

I really love being by myself.

Probably thought it was fake.

Genuinely, like, I'm I being punked.

Next, I've got a money win from Casey who said,

she found shampoo and conditioner

in the clear and shelved TK max.

God, I love a little TK max.

Oh, yeah, I can.

Then I've got one from Jackie who said,

Hoi it sent her a tenderly movie ticket

because they hadn't seen her in a while

and she got to use that to go on a solo date by herself.

Beautiful.

We need to do more of that stuff.

Yeah.

As women.

I agree.

A little bit of time for yourself

and even better if it's on the house.

Next, I've got a money win from Jasmine who said,

small one this week, but I got two house keys cut at Bunnings

and they were unsure if they would work,

so they only charged me a dollar each.

And then they worked.

Oh my God, that's so nice.

That's so nice.

And then last one I've got is from Iris

who said she bit the bullet after weeks of thinking about it

and she cut her own layers into her hair.

She said it came out so risky.

I don't.

It came out so nice.

It was so easy.

She shared a link to the YouTube tutorial.

Was she followed?

Oh, that's much smarter.

I would have just gone rogue in front of the mirror.

She's a tutorial.

Oh, you are.

It's a professional.

It's a fine way to hear.

It was way easier than a blunt cut trim

and she says she's going to do it every three months or so.

Becky, you cut your own hair.

I do.

I've never ever been to hairdresser.

That's crazy.

That's crazy.

Do you follow YouTube tutorial or how are we doing it?

No.

Safety scissors, kitchen scissors.

I do use any scissors that I can find in the house.

Yes.

And then I'll just...

Because it's a bit of a mullet.

But even before I had a bit of a mullet,

I did just wing it.

Yeah.

It's not good.

Yeah.

But it's not so bad, either, you know?

I don't think it's bad.

I've never done that.

I've never done that.

Oh, it's a bad haircut.

Oh, my God.

Thank you so much.

Maybe you said you'd never been to a hairdresser.

I was like, oh, I didn't realise you did that yourself.

That's so nice.

I guess I thought about it.

Maybe you do get some hair skills.

She's got skills.

Yeah.

When you're doing it yourself for 33 years.

I'm impressed with you.

Thank you so much.

Thank you so much.

Good job.

Well, thank you for that, Jess.

Ms. Bexayet.

Yes.

What pro tips have the community got for us this week?

The first one comes from Emma, who says,

if you need to pick me up,

a macker's soft serve cone with a flake

is the best happiness a money can buy.

For under two dollars, which is, I know,

a pro tip in this day and age.

But it used to be 50 cents.

All right, yes.

Wasn't it 50 cents?

Yes.

Don't need the flake.

I saw a tip talk the other day.

How many times do I say that on this podcast?

I saw a tip talk.

We need a tip talk segment.

Like every week, we just, the tip talk of the week,

or something.

Yeah.

But I saw a tip talk and the ladies hook,

at the very start of the tip talk, was like,

follow me, because I'll show you how I feed my family

for under two hundred dollars a week.

And I was like, wait, what?

Yeah.

That's the new norm.

What do you mean?

Like, that's not a flex to, like, it obviously is a flex

to feed your family for under two hundred bucks a week.

But I remember, like, a hundred dollars

being the, like, feed a family of four for under a hundred

bucks a week.

Yeah.

What?

A hundred dollars a week is the flex.

Yeah.

It's getting ahead of itself.

I know.

It's really scary out there.

This next one comes from Hannah, who says,

did you know you can order a coin in a cup and add

M&M's on top and it's only $1.75.

It's a mini McFlurry, which is incredible idea.

And they don't even mix McFlurry's anymore.

No, they don't.

I'm not going to lie.

Can someone explain to me the difference between a McFlurry

and a Sunday?

I think they're in the same cup now.

Are they?

I think so.

What's the difference?

Is it just like the topping?

I thought McFlurry's mix, but you're saying they're not

anymore.

No, they don't mix them.

They just put toppings on the top.

And there's nothing underneath.

It's a cup of soft serve with the topping.

Is that not what a Sunday and McDonald's is?

I mean, at least for the Sunday, they have the good grace

to put the sauce on the bottom as well.

Oh, they do.

Really?

If you get a large.

Otherwise.

True.

Otherwise, if I get a small, I ask for a pump on the bottom as well.

Yeah, because you're a smart woman.

Yeah.

Double up on that strawberry Sunday.

I stand up.

I get you.

That's a throwback to 2021 podcasting, Jess.

She prefers a strawberry Sunday.

That is crazy.

That is insane.

And I took it to Instagram, so convinced that everyone

would agree with me.

Oh, gosh.

Not many people.

She got humbled.

Everyone was like, that's sacrilegious.

Yeah.

Oh, it is quite eye-opening.

We realize.

Insane.

That was one of my pregnancy cravings.

Like I was a feral for a strawberry makeover.

That looks Sunday.

It's a very validating.

I was like, do you want a Sunday?

You should be like, why?

But who am I to say no?

Hey, well, that's it.

But the hungry jack storm.

It's huge.

It's huge.

It's huge.

It's like a McFlurry and they do mix it.

It's flake.

You can get flake in there.

But not the stickers of flake.

Flaked flake.

Oh, that's even better.

You add some Oreo.

You add some hot-fudge sauce.

Oh, my God, it's the best.

It is way better than any McFlurry could ever be.

I'm going to need to test that out because I'm not going to lie.

Sorry, hungry jacks.

The burgers are better.

But I've never heard of about you Sundays.

No, they're Sunday.

I know.

And they're so humble about it.

I'm like, tell everyone they're so good.

They're so good.

You know what?

The hungry jacks marketing team are like listening to this right now.

And they're like, we do.

We tell everybody why I'm not hitting your ears.

If I could just get one free storm, that would be nice.

What else you got?

The next one comes from Sierra who says, instead of paying $16 a month for Spotify Premium,

I canceled my subscription and bought a Spotify 12 month premium gift card on Amazon for $140.

That's a $52 difference.

Ah, ah.

Very cool.

That is really, really smart.

But yeah, it's one of those things where it's like, if you have enough money to pay for a big chunk of time,

then you will get discounted, which is very, very nice.

And also a privilege.

And also a bit of a privilege.

And then you don't have to think about it for the year as well, which is great.

And then my birthday for this week, some of you may know, I'm not too sure,

I quit my job randomly because I'm not very good at freculating my emotions.

And now I'm stuck, jobless and poor.

But I called my utility company, my gas and electricity, both in the same.

And my housemate, who is also my friend who I live with, got a utility relief grant.

And she said, you can apply for this.

And I said, I'm not on send link.

I don't have a healthcare card and a reconstruction card.

Like, are you sure I can do this?

And she's like, yeah, all you have to do is wait for a built-by overdue.

And then you call the company and you apply.

And they help you apply for it.

You just have to send either like your bank statements or a letter from your employer saying

that you're not working or you're not working as much, whatever it looks like.

And then they apply.

And then you get, I think it's like $600 in credit for utility.

Wow.

And they keep applying for it until you run out of your.

Oh, nice.

Money.

And so I'm like, that's incredible.

So I did it.

I applied.

I haven't referred back yet, but it was just yesterday.

That's a very cool scheme.

It's one thing that you can just take off your list of things you've got to pay for.

Yeah.

Because energy costs are crazy.

Yeah.

So all utilities currently covered.

Isn't that crazy?

I love that.

So you got to go in.

That is a genuinely good, broke tip.

Thank you so much.

Right.

Well, let's go to a break because I am very excited to get into the community money dilemma,

which is all about selling shares for a house deposit.

And then the DM of this week is about investing in a property with someone else

before you've actually purchased your own property.

So guys, don't go anywhere.

Welcome back, everybody.

Let's take a listen to this week's Money dilemma.

Hi there.

Have you got a money dilemma you just can't solve?

The she's on the money team is here to help.

Every week, we tackle your dilemmas both big and small to answer your most burning money,

career, and life questions.

To get involved, simply head to our website and leave us a short voice recording

and you might just find yourself on the show.

Now let's take a listen to this week's Money dilemma.

Hi, she's on the money.

My money dilemma is I currently have $10,000 in shares.

I decided to invest my savings one to two years ago when I was single,

thinking I could regularly contribute and want to go for about five years

and then hopefully use it towards a house deposit.

Since then, I have found a solid partner who I want to home with eventually

and I also just came into an inheritance of $25,000 from my family.

Remember that past.

Suddenly, the prospects of a house deposit with my partner looks possible

for as early as next year.

But I've also since learned the effect of time on my shares from your podcast.

And now I'm inclined to use my shares towards early retirement

or another long term future investment plan.

For context, I'm 23 years old, so time is definitely on my side.

My partner and I will have an offer out deposit come next year.

However, if we contribute my shares as well,

it could take a bit of pressure off the monthly repayment

as I'll still be a student for the first six to 12 months of the home line.

Should I take this money out and meet next year when we're looking to borrow

or should I keep it in there as a set and forget long term investment plan?

Ooh.

I feel like that's a good one.

Yeah.

I'm going to reserve my comments.

Sure.

Well, I just want to say I'm so sorry to hear about the passing of your family member.

And I know this is not all we were asking.

And if I was in your position,

I would completely disregard everything I'm about to say.

Because I would almost be like, FU for even saying this.

But if I could start my life over

and I was going to buy house with someone that I could see a future with at 23,

I would probably not do that.

Simply because you don't know what your life's going to look like.

There's no rush.

Like don't rush into that right now.

Maybe don't do that step.

As far as like taking out shares,

even you're saying like there's a lot of time in your hands.

I'm like, I would not be doing anything right now.

I would just be like still saving.

I would be just like kind of going about my business.

I would not be buying a property with my partner at such a young age.

I would just be doing me.

I'd be thinking about me.

I'd be wanting to get my own property.

I would not even be touching anything right now.

Because it's all sounds like there's so much time on your hands

that you're not in a rush.

Don't worry.

Fair.

It's just a little itchy.

Yeah, I think.

It's kind of a catch-22 because there's an argument to be made

for getting into the market early, the student of the better, etc., etc.

Prices likely to continue increasing, you know, time in the market,

all those sorts of things.

However, I very much echo your sentiment.

Did they say how long they've been with their partner?

I don't know.

I might have missed it, but I don't think they mentioned it.

Yeah, so it's very hard.

But like even if you had been with your partner for let's say five years

or something, that would have meant that you'd been together

since, what, like, 18?

Am I doing that after all?

And so it's, I don't want to belittle a relationship

just because you're young, because I think people can experience

incredible love at all ages.

But I also think you are still developing and growing as a person.

Just a baby.

You are just a baby, my love.

And so I just think there's no rush.

You said you're a student still as well.

And so I wouldn't be looking to undertake a mortgage

while I was studying, generally speaking.

You know, it's, especially if you're in your later years,

I think depending on what you're studying,

you might have placement or whatever.

It sounds just like you've got a lot going on.

And if you're not in a rush, I think exactly as you were saying,

like having that money sitting in shares,

it's compounding.

And historically speaking, the share market has compounded

at a greater rate than the property market has increased in value.

Is that right?

Yes.

Thank you.

You're looking over there at a moment.

I'd be like, is that correct?

So it might very well be that the math is mathing in the sense

of it's also better economically to leave your money invested in shares.

I just think it sounds like you're at a very busy point in your life.

And maybe you don't need to be making that big decision right now.

In a broader scale, like can you sell investments to purchase house?

Absolutely.

You can.

Like there are lots of people who do that.

It's going to depend on, you know, are your shares in the green or the red.

Like that's a big factor.

You know, how much capital gains are you going to have to pay?

Like all those sorts of things factor in as well.

And I feel like I'm dancing a little bit around in circles.

But I think if I was you, what I'm saying is,

I probably would not be making this decision right now,

even with the hindsight of like,

do I kind of wish I'd bought a property when I was that age?

Yes.

But how do I bought a property at that age?

I would have been kind of screwed because we had COVID and all those sorts of things.

And I guess not to be all doom and gloom,

but it does feel a bit like where coming towards another time of significant economic uncertainty

with everything that's happening in the world.

And me, as we all know, being very risk-adversed,

you're not are you?

I just tend to operate with the abundance of caution.

So I would just, I would think very deeply about it.

But I think continue saving.

Save your deposit.

And then once you get there, maybe that timing will feel right.

Yes.

I'll let you talk.

I think you.

There's fewer words.

I mean, I don't want to assume that you maybe if you're with a male partner,

a male partner, a male birth.

I'm just saying these situations sometimes aren't as...

First new.

Never.

Oh, sorry.

That's very clear.

Every day is a still-dash.

That's true.

I can teach you all the terms.

I would love all the terms.

Absolutely.

All of them.

I don't know when I'm going to use them, but that's new.

No, I just think be very, very careful

because someone might be really, really sweet at the start,

of course, because they're trying to get a little bit...

It's just man, maybe.

She's like...

I know.

I'm trying really not to regret being in a relationship

with a man.

Disgusting.

I'm really trying not to.

But I'm like, think of how mean someone can be

after if things aren't good.

And then you want to own something with them.

Just think about that.

Just try and be slower.

Just be slow.

Slow down.

I'll put on my hat and not have an opinion about your relationship.

You're going to get married,

and your life is a fairy tale, and they're the one.

As a mortgage-broken girl,

go talk to a mortgage broker.

Like, go get the numbers.

Like, I don't know what your situation looks like.

What does your borrowing capacity even look like as somebody

who is still studying with a partner who earns an income?

Like, are you actually able to service a mortgage?

Like, is it just a good idea?

Just because you have a deposit doesn't mean you can service the mortgage

that you might want.

Talk to a good mortgage broker who can look into a number of schemes and grants.

You might find yourself in a position where you only need a 5% deposit.

There's also the 2% deposit scheme that's going around at the moment

and getting a really good wrap that might be up your alley

if you're purchasing under a certain amount.

So you might not even need to sell your shares to get into the property market.

You might be able to just sit them there when you don't sell your shares

to purchase property.

The bank still sees it as an asset.

So it's not something that, you know, is detrimental.

They go, oh great, you've got 10 grand in shares.

Like, great asset.

Worth 10 grand.

So that's not a bad idea,

but I'd be literally talking to a mortgage broker who might take you through all the options,

and then you go, oh, we don't want a mortgage yet.

Or you might be spoken through all the options.

And it makes perfect sense for you guys to purchase.

And, you know, you've worked out all of the drama of what happens

if this relationship doesn't work out.

We find with that because lots of people in our community do that.

And then purchase with a partner breakup and they're both amicable.

And they're like, oh, we're just going to keep the property and lease it out

because hasn't gotten any extra value.

And we want to sell it once there's value there.

So have all those hard conversations as well.

But I wouldn't be not talking to a broken professional.

And I wouldn't be making a decision with my partner about like, oh, Jess,

will you sell your shares for a property when you don't even know your service ability yet?

Because like, what if you do sell your shares and then you talk to a broker

and they're like, why'd you do that?

Like, that's a great, you can't get a mortgage at this point

because it's getting fickle and with the cash rate increasing,

banks are tightening up as well on who they're lending to,

but also how much they're lending.

So that's just quite a pickle to be in.

So get somebody, get them on your team and they might even go, oh, well,

if you were going to be studying for the next six to 12 months,

let's line everything up for you to purchase in six to 12 months

so that you can get it with a full time income

and that will increase your service ability

and get something you actually want.

True.

So it really depends.

Yeah.

Just get a professional on your team.

It's free.

It's free.

We recommend Zella.

Oh, 100% we recommend Zella.

Anyway, would you guys like the community DM?

Yes, please.

That's Campbell trying to join in the podcast recording.

Campbell's friend said,

Hi, she's on the money.

My boyfriend and I are planning to buy our first home together

in the next few years.

Recently, he mentioned his brother wants him to go in on an investment

property with him and his fiance.

The idea is that in one or two years,

the brother would buy him out so that we can buy our place.

I'm stressed.

That timeframe feels short to build meaningful equity

and I'm worried it could impact our eligibility

for our first home buyers grant.

I'm also concerned that if his brother can't buy him out,

my partner would be stuck servicing two loans

or unable to say for our goals.

They already own a home so they end up with two properties

while we are still trying to enter the market.

How do I raise my concerns,

especially if I'm not comfortable taking on a loan with him

because of service ability risk?

Don't do it.

Already, I'm just thinking there's no real...

Just don't do it.

How do you raise this?

I think read this exact DM to your partner for starters

because I think you said it all very, very well.

You needn't say anymore and if your partner is like,

well, I'm still going to do it, then that's insane.

But yeah, it would ruin your first home buyers chances, right?

It would ruin here.

Absolutely, it would ruin here.

If they're buying together, it depends on the bank

and how that works.

I see.

It depends if she's in on it because she also said

something that makes me think that they're all in it.

They're all in it together.

Because each individual qualifies typically, right?

So theoretically, for a couple of buying a house together,

you both get your first home owner grant,

assuming each individual is satisfied

with the requirements done.

So if he bought with his brother,

he would use it with his brother.

So then when the couple purchased,

she would potentially qualify,

but her partner would not,

because he'd already used it.

Yeah.

Well, I'm just like, don't do it.

It's too risky.

It sounds too risky.

I can't think of a single benefit

other than maybe in a few extra thousand

in two years' time, maybe potentially.

Other than that, I mean, maybe I'm missing something.

But I don't think you're missing anything.

I think it's a bit catch-22.

Yeah.

So if it doesn't increase in value,

and his brother has saved up enough to buy him out, great.

No worries.

But what if that property does increase in equity,

which is what you want,

and then his brother can't afford to buy him out,

or doesn't want to buy him out at the amount

he's worth.

And then you have to sell the whole thing,

which in one to two years,

I think is a terrible idea,

because we should never be buying property

with the view to sell it in one to two years.

That's a long-term asset.

You're paying stamps and stuff on property.

That's crazy to me.

I would actually sit down with your partner

and entertain the idea.

So I'd sit down and be like,

oh, hey, like this pretend it's Jess and I,

hey Jess, that sounds like such a good idea that you've brought

to the table.

Let's actually map it out.

What that would look like financially for us

and what it looks like to buy our own property

in one to two years.

And I can almost guarantee that without you saying,

oh, it's about idea,

that mapping out process is going to come to the conclusion

that maybe it's not a great idea

for you guys to achieve your goals.

But hey, I don't know the opportunity.

It might end up being a fantastic opportunity,

but like sound it out.

Talk to a mortgage broker about what's possible

and whether that's a good idea or not financially,

work out what your eligibility criteria

is on first homeowner grants.

I don't know what your future looks like,

but if you're buying an expensive property,

you might not actually get access to any

of your first homeowner grants anyway.

So what do you qualify for?

What don't you qualify for, et cetera?

Just what would you do as somebody who refused

to buy their first home with a partner?

I'm just not understanding the buying out of it all.

Like I don't understand,

is it because the brother wants to get into the market

and your partner has said,

oh, like I'll front you the cash or pay half.

And then you buy me out in two years.

In which case, I just think there are better ways

to go around that.

Like maybe you could look at a guarantor situation.

I just, the buying out, I'm not sure.

Like it's just totally a bit sus.

Not sus.

Like I'm not saying it.

He's trying to do anything dodgy,

but I just am not understanding it, honestly.

Without looking in such a short period of time,

exactly as you said.

It's too short.

What the market is going to do.

The only way that makes sense in my head is

the brother wants to get into the market now.

He wants to buy this investment property.

And he can't afford to do it.

Yeah, why isn't he doing it?

But then buy something smaller because you already own a home.

So why you're not leveraging your existing home?

Or just waiting.

It just doesn't make sense to me.

Like I'm not understanding the upside of it.

And I just think it's very risky,

exactly as you said,

that he might not be able to afford to buy you out

or whatever your partner is then stuck in this investment

that he maybe did or didn't want.

I don't know.

Yeah.

I just wouldn't do it personally.

I can't really explain that much more.

I think exactly as you said,

do the numbers and see,

but I can't.

I wouldn't do it.

Fair.

Well, we asked the community that exact question.

What would you do if you were our community member?

42% said,

revisit the idea after we purchased our own home.

36% said,

hard-know from me.

20% said only with a strict legal agreement.

And 2% of you said,

I would support my boyfriend's decision.

Oh, you're a better person than I am.

2%.

Would you ever enter into an agreement like this?

50% of you said,

no, it's too risky.

32% said,

depends on our sibling relationship.

And 18% said,

yeah, if the numbers stack up.

We then said,

what's your two cents?

And it was similar to our conversations, right?

First person said,

the boyfriend should consider the impact to the girlfriend

and the first home grants they'll lose.

Next person said,

if they already have a property

and this is an investment,

it screams they haven't got their shit in order

to do it on their own.

Next person said,

this sounds like it's 100% a great idea for his brother

and 100% a shitty deal for your partner.

Hard-know.

Next person said,

I did exactly this.

Oh, T.

Tell us more.

Disaster steer clear

for your mental health finances

and your family do not do it.

Oh my god, there you go.

Out of the mouth of me.

Next person said,

so many different legal mechanisms

to achieve the same result but better outcome.

And next and last person said,

I'm a lawyer.

The slight chance of any issue is not worth it.

Plus family law separation issues

don't put you in the best position.

There you go.

Anyway, that's a good place to leave it

with a lawyer's comment.

Look at us going to the horsesmiths.

Yeah, literally.

Professionals.

Stuff like that scares me

because I'm always like,

they always start with the best of intentions.

But these situations usually favor one person

over the other.

And when it's like,

oh, I'm going to get my brother to do this with me

because I can't afford it.

It's you using your brother to get

to where you want to be.

And you're not,

your brother's not in the best possible position.

He's just a vehicle to help you get there.

Yeah.

Potential for things to go wrong.

It's too high.

It's too high.

It's too high.

It's a note from me.

Amen.

Well, Cammy's finally decided to go to sleep.

So that is a wrap for the show.

We will see you guys bright and early

on Monday morning for a money diary.

Till then, have the best weekend.

Bye guys.

Bye.

Bye.

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