Year 12 students get crash course in buying homes before graduation
A new statewide initiative is giving high school students tips on the secrets to one of life’s biggest aspirations.
Redlands Coast
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A new statewide financial literacy program has been launched in a bid to educate year 12 students before they leave school about buying a home.
Finance broker and Madd Loans founder George Samios designed the program after finding young Queenslanders avoided entering the housing market because of a misapprehension that buying a house was “unattainable”.
Mr Samios said the gap in high school financial literacy had led to many school leavers being turned off entering the housing market.
This week he told year 12 students at Browns Plains State High School that home ownership was achievable but warned that wealth creation took knowledge, planning, and work.
He warned that many people were left vulnerable to misleading claims from get-rich seminar promoters and advised that students should be well-versed in government schemes such as the First Home Buyers grant.
“I’m not claiming that everyone can purchase property but for most, it’s achievable depending on the sacrifices you are prepared to make and your priorities,” he said.
“A lack of understanding has caused people to fall for get-rich quick schemes promoted across social media.
“We are failing our young people by not educating them in financial literacy.”
Topics covered in the seminars include how to save a deposit, superannuation, salary sacrificing and building a property portfolio.
He spoke to year 12 students at Browns Plains State High school after successful addresses at Brisbane State High School, Wynnum State High School and Toowoomba.
The state government’s first homeowner grant is aimed at helping first-time home buyers to get into the market sooner.
If eligible, the grant allows $15,000 or $30,000 towards buying or building a new home.
The Queensland grant covers new houses, units and townhouses and to buy off the plan or choose to build a home.
A regional home building boost grant was also available under certain conditions.
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