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Advise your kids on buying a home

 

I want to buy a house Buying your first home

“Mom, help me buy a house!”

Parents, advise your kids on buying a home.  Generally speaking, children look up to their parents and approach them for advice on matters of importance. Buying a home is one such matter and parents can play a pivotal role in assisting their children on their path to home ownership.

Firstly, it’s important to establish why your child wants to purchase a home and whether or not they are being realistic about the property they want. Purchasing a home “because everyone else is” and enquiring about a R3-million cluster on a R10 000 salary are signs that your child needs guidance.

A first home Ask for advice on buying your first home

“Buying your first home is a big step, and also a very big financial commitment,” says Monde Motha, Channel Manager at FNB Home Loans. “Your child needs to understand that repayments will account for a big chunk of their monthly income, which may mean they aren’t able to afford additional expenses such as studying further or going on trips with friends.”

 

Read the full article on Mom, please buy me a house

 

 

 

Engel & Völkers

Southern Suburbs
St Albans on Cavendish, 2 Osborne Road, Cnr Osborne Rd & Cavendish Street
7708 Claremont, Cape Town
South Africa
Phone
+27 21 671 9274

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