Ruby, from Melbourne, Australia, bought a house when she was six. For this, she and her siblings have amassed all of their pocket money.
The girl told the Australian television station 7News: “My name is Ruby. I’m six years old. I will buy my first house soon.”
All three children were assisted by Mel McLellan, 36, a Melbourne-based real estate investor. “All three have invested about $ 2,000 and added their savings to it,” says the father. The children were able to put their pocket money together with the help of their parents’ household.
Real estate prices are skyrocketing
The total value of the house purchased and the land around it is approximately $ 670,000. Although each of the children donated $ 2,000, father Cam McLellan and his company paid the rest. He estimates the property will double in value in about ten years.
Experts say this is “out of control” due to the sharp rise in real estate prices in Australia. Real estate prices have risen 22.2 percent on average since the beginning of this year. There has not been such a sharp increase in more than 30 years.
Can sell in ten years
Children do not want to live in their own home. Instead, they sell the property for ten years and then divide the profits among themselves.
They were well prepared by their father. Recently published a book. Subject: Buying and selling real estate. (Jis)
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