She was a 21-year-old nursing student at the time, and while her friends were spending their weekends partying, Ms Devadason was making “sacrifices” in the hope of securing her future.
Welcome to Foot in the Door, news.com.au’s series on first-time homebuyers. Source: News Corp AustraliaMs Devadason now works in finance and was earning around $40,000 when the property settled.“In 2017 I knew I had a property coming up — at the time, it was still being built — so I tried my best to save,” she said.
“It was very hard because as a 21-year-old girl I didn’t do my nails or cut my hair — I had to cut out all that girly stuff,” she said. “At my age a lot of people want to go out and party every weekend which is fine, but if you put your mind to something and really want it, you can save a lot,” she said.
Mom n Dad bank + SMSF initial deposit. Wat cud possibly go wrong? big4 ausbiz australia migrant sydney
Rough numbers for this idiot: paid $544k at top in 2017 but now avg dwelling -15%. 20% deposit $110k with $80k evaporated. At 4.5% she's neutral geared. If she worked 50hrs /wk $25ph and saved 100% post tax still would have taken 2 years to save the deposit she's now torched.
'Everything is easy' when you don't have to pay rent or ave any bills or buy groceries. 🙄
How many sugar daddies paid you
“I was living with mommy and daddy, not paying anything out of my own pocket and managed to save - if I can, you can” ... excellent, tell your parents I’ll be over with my cat and belongings tomorrow, okay?
Intentionally owning less is a better way to live. It brings freedom, clarity, and opportunity. And each of us should consider embracing it in our own unique way. Consider these seven reasons:
Sooooo responsible lending practices ignored or lets face it, mummy and daddy helped A LOT
thanks for offering to let me live with your parents dinisha
Well BS. I was a single father of 2, on $55 per hour, and 3 banks and Aussie Homeloans would not touch me. I had no outstanding debt. I owned my $50K car outright. In 2010, I was after a $460K mortgage. They all said no because I was single. So tell us another one.
My math puts her repayments at around $475/week on a 30 year loan and she's getting $400/week in rent. Not bad.
A better headline: “The most boring 21-year-old in the world buys property, thanks to mum and dad”.
You probably should have lead with this.
Coincidentally, this US media company has to pump out absurd stories about buying property because their property division makes more than their news division does. Wagering is also a Top 3 biz priority for NewsCorp now, so expect 'I keep winning at online betting'! stories, too
Bullshit yarn
This entire thing is a bucketful of lies and trash
Sure Jan
So did the finance company write this themselves or did you guys get to edit it a little?
'We need an idea for an article' 'I know someone that paid no bills and saved money. How about that?' 'Seriously? That's the story? That's ridiculous' 'But she paid off property' 'Property?! Why didn't you say so already.'
Cough cough
Aren’t you supposed to label advertisements..? Ratio ParentallyFunded AndSheRentsItOut WhilstLivingWithSaidParents ThisIsWhatsWrongWithThePropertyMarket CanIJutHaveAHomeToLiveIn WhereIDontHaveToPanicIfABirdCracksAWindow AndICanHangPaintingsAtWhim?
Few red packets
Lol all these jealous comments. Good for you to decide to save instead of spending it on partying and booze. Why is it a problem if a parent still supports their child at 18 so they can get their own home?
'Anyone can do the same' assuming they have a job and well-off parents
Yeah, anyone can do it if you are giving hand jobs. 😂
Only about $82k down since she bought right at the peak. Should take about 205 weeks’ rent to make that back. Oh ... what? Nearly all that rent’s going to the bank in interest charges? How many years till she crawls her way out of the hole she dug herself? Winner.
Cool, a shoe box in parramatta for half a million. Easy.
Absolute Bullshit..her wealthy mummy and daddy gave her a massive deposit while she stayed at home for years with no rent or living expenses to pay while she earnt $25 an hour..and went to uni...The LNP’s answer to stagnate wages...hit up your rich parents..too bad if you don’t
Not everyone has the opportunities she has been given.
It’s a freakin ad for a dodgy finance company, through the likes of which dodgy lending practices triggered the GFC. 👍😳
Also this isn’t news.
And her parents have probably guaranteed the loan/s.
Who on earth gave her a loan on that income?
I wouldn't be going the young lady. I'd be more inclined to be annoyed for peddling this shit still as a feel good story. It's never as it sounds......
Was she working part time when the finance was approved?
The usual advertorial crap that only Rupert's rags peddle. Not journalism in any sense of the word.
carey_alexis with a contender for one of the worst articles of all time.
The link to Zinger Finance near the end of the article is a dead giveaway. Paid ad; no more, no less.
Hahahahahahaha what a load of crap 😂😂😂😂😂😂😂
ABCmediawatch Please ask carey_alexis whether there was any inducement from ZingerFinance for writing this blatant advertisement.
Right...she lived at home and therefore had no bills to pay, so she would have saved almost 100% of her pay check. That’s not the reality for most people.
Hey ScottMorrisonMP is this what you mean by 'have a go, get a go?' auspol
Why do people see partying and travel etc as a negative? They give you memories, teaches you social rules and etiquette, forms bonds, even helps you find a partner without the need for an app.
there is not a bank in Australia that would lend money to a worker with a part time job. Next you'll be telling us she is now negative gearing 5 properties from her heavily indebted first home
More marketing for the REIA
is not news. It’s advertising.
So if she worked a 40 hour week that's $1,000. Piece of cake but how many of us earn that much?
Gotcha. So she lived at home, didn't even pay for groceries and her family showered her with money at every celebration. But still 'struggled'. She says her parents are property investors. Did they go guarantor too?
Stories like this are lazy. There is nothing remarkable about being able to save money while you are not responsible for your every day living expenses such as rent, bills and groceries. The fact is those expenses are what the bulk of most people's earnings go on, not luxuries.
Last one . Unfollowed. Do you even read through your articles before publishing them? I mean: all the way through?
Bank of Mum and Dad
And this line: Ms Devadason is still living at home with her parents who are also property investors, and she said she hoped to add to her portfolio in future.
Only if you live with your parents and pay nothing for food electricity and rent! Not much truth in this story ?
Don't click. She saved while living at home free from bills, groceries and rent/board and responsibility
I was going to make a comment about why does the media run stupid, click bait headline articles like this. But it’s news corpse so 🙄
Only think Asians migrating to this country think of is money and property. No interest in maintaining our social structure based on Judeo/Christian democracy.
Anyone can do it if their parents pay for everything, give them huge gifts of cash several times a year, co-sign the mortgage, etc. We’ll just disingenuously report on this without all the facts to remind boomers how lazy kids are these days.
🤭 IndusTrainCons can we have a unit graph of para please Thinking settled for $544k earlier this year
Wow look at all these people who didn't read it. My ex saved up 150k working at fucking Jay Jays and being frugal. Anyone can do it if you have the drive, desire and discipline. You people in the comments evidently do not - and neither do i, but at least I won't make excuses
News flash! Mum and dad finance daughter's life. No more to follow.
Smells like bullshit.
If i was to read this article, would it say anything about her parents helping her out in some way?
carey_alexis can you provide a few more details? E.g. How many hours per week was she working? The article suggests she was able to save over $100K in 2 years. Possible? What was the term of the loan? Principle + Interest?
'I didn't have to pay for ANYTHING, yet still found saving hard' Imagine how hard it might be for someone who has to pay for EVERYTHING christ auspol media, you are fucked!
Hope Dinisha discovers something about the real world outside her bubble and develops some mettle before shes inleadhes om sick people who may not have had her opportunities ..am i permitted to say privilege? Cant tell patients 'i got better you can too, just try more.'
'If you be a sponge on mummy and daddy, you'll get a go.'
Did you seriously print this? And did the finance company she used pay for it? This is the biggest load of tripe ive heard since Trump last spoke..
So Nursing student now works at property advisors?
Hi Dinisha, That is a very adventurous move. I hope it all goes well for you and your wage continues and grows. Adventure opens new doors and provides growth as well as testing your mettle.
'My parents helped me in a sense, they didn't give me money but..' They let me live expense free with all mod cons covered for the duration of my saving period. SelfMadeWithFinanciallyStableParentsBitches