As a Realtor in Vancouver and a parent of young adult children, I am often asked by friends my thoughts on how to get their kids to think about investing in Real Estate in Vancouver and as a parent should they financially assist?

I love this question because I certainly remember when my husband and I were buying our first condo in the late 80’s. Interest rates were pretty good for the time (11%!) and property values were increasing rapidly. We borrowed from our parents for our down-payment and were really stressed about the size of our mortgage.

Fast forward to today, interest rates are considerably lower but prices are still rapidly increasing. Waiting for your child to be able to afford something on their own may run the risk of having them priced out of the market.

As an alternative, we are seeing many first-time home buyers purchase presales with the help of their parents. This provides them with some lead up time to save for deposits and closing costs and helps them avoid the currently very competitive resale market.

Regardless of the route you and your young adult take to get there, we can help assist you in entering the market in the way that best suits your situation.

We absolutely love helping first time buyers navigate the real estate world – researching where to live or invest, cost of ownership vs rental, strata management document review, mortgage process, insurance, taxes, legal documentation, to occupy or rent etc.

We work with you and your young adult children find the perfect ‘get into the Vancouver market now’ property. Getting into the market is the first step to building equity that will help them afford their dream house in the future.

Let us show you how you can achieve that.