Looking after the future is a big issue for many people. Helping out the kids responsibly can be the even bigger one.

The great Australian ideal of the family home on the quarter-acre section with a white picket fence is fast becoming a dream that few can afford, but with changes in the market and strong growth in personal wealth, more and more young people are turning to their family for assistance in purchasing their first home.

So how do you do it? Well the first thing is to check with your financial advisor, to assess your own personal finance situation. Many people have equity in their homes, which is the difference between what your home is worth and what you owe.

We have seen an increasing trend where mums and dads offer the equity on their home for the deposit on the first home for their children. This uses the leverage of not having the full cash deposit to allow the purchase.

The second way is to set about an aggressive savings program by reducing your expenses. We have seen a trend of people not leaving home to save for a deposit. The notion is generally 10%.

The final option is that you can offer to be the guarantor on the loan, meaning that you agree to meet the loan repayments if your child cannot.

Having said all that, there is nothing like property to generate wealth. The advantages are many and at the end of the day we all need somewhere to live, so why not invest in one of the most important assets sooner rather than later?