Our clients come to me all the time with their real estate questions. Lately, I’ve been hearing “Cindy, how are our kids going to be able to afford to buy a home in this market?” Here’s my advice.
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Many families have been having conversations about real estate and getting into the Kitchener-Waterloo market. For many of my clients, their kids are talking about purchasing a home but they don’t have a down payment, or enough of a down payment.
The reality is that most people are helping their children with a down payment. Some parents are even co-signing when necessary so their kids can get into the KW market.
This process is different from how the boomer generation got into the real estate market, but it’s a good thing. Helping your kids get into the real estate market now is a good thing. As home prices rise, now is a great time to help your children purchase a home so they can benefit from future price increases.
If you have any questions about how you can help your kids purchase a home, please don’t hesitate to contact us.