A 26-year-old teacher and her 23-year-old brother recently purchased a $1.9 million two-bedroom apartment in Sydney’s St Leonards suburb, sparking envy from peers who overlook their efforts.
Family Support Matches Hard-Earned Savings
Grace Roseby and her brother Pierce each contributed $50,000 from their savings toward the deposit on the unit at The Collective. Their parents matched this amount with $100,000, fulfilling a promise to double whatever the siblings saved.
Ms. Roseby, a schoolteacher, explained that she avoids sharing details of the purchase due to quick judgments. “People assume our parents handed us everything,” she stated. “They don’t realize the hard work behind our half of the deposit or the lessons from our parents’ experiences.”
Sacrifices for the Goal
Ms. Roseby skipped a gap year after school, entered university immediately, and juggled three jobs while saving aggressively. “I turned down social events and purchases like shoes to stay focused,” she shared.
Mother’s Tough Upbringing Shapes Decision
Grace’s mother, Michele, who owns five properties, drew from her challenging childhood. Her grandfather divided his estate from Sydney hotels unevenly, allowing an uncle to buy out shares and build substantial wealth, including waterfront properties.
Raised by a single mother alongside her brother, Michele faced early independence. “We walked to school alone at age five and returned to an empty home,” she recalled. Tragedy struck when her brother overdosed at 23, leaving her to support their mother young.
“I aimed for self-made success without relying on others,” Michele said. To prevent her children wasting money on rent, she offered to match their deposit savings. She views jealousy as a sign others feel unfulfilled. “Those who applaud are content in life; the envious haven’t managed their finances well,” she added. Michele admired successful people and strived to emulate them.
Growing Parental Assistance in Home Buying
A 2025 survey of over 1,000 Australians shows 17% of first home buyers received parental deposit help, up from 11% in 2022. Mozo’s Bank of Mum and Dad Report 2025 reveals 75% of helping parents expect no repayment.
