My daughter came from school devastated that when she grows up she won’t be able to buy a house. She told me she is worried that If she has a family of her own she won’t be able to provide a home for them.
Apparently the teacher told their class that they won’t be able to afford houses when they grow up because it would be too expensive.
She said she is concerned that she would end up living in the streets. She then asked hubby and I if we were doing anything about their future. I looked at her face she was like someone who has had a dream shattered right in front of her eyes. Her eyes were so wide open and really needing assurance from us that we were doing something towards her future.
Hubby and I explained that we have a project which is targeted towards serving this purpose.
I wonder if any of you parents have had your kids ask such questions. Aren’t kids supposed to focus on now and enjoy being kids instead of worrying about the future.
Anyway this took me back to my childhood, my parents’ priority was providing a good education for us.
Just in case you are reading this post and you are like doesn’t everyone have an opportunity to get educated? Well not really it depends on which country you are from. If you live in the western countries yes every child has this opportunity due to the availability of government funding. However, in other countries it is an out of pocket expense for the parents especially from high school and above.
So for my parents’ education was priority. I did have a student loan when I was studying my course but compared to the education costs now the loan was minimal. When hubby and I decided to advance our careers in the UK, we did get study loans. I am talking real debt which makes you so focused on getting that qualificatiob because you know it’s costing you big $$$. On top of that the day to day living expenses.
So when I saw my daughter’s devastated face;
this challenged me to think beyond providing for her everyday living expenses. To focus on making sure she can have her own house when she’s older.
There are 2 schools of thought to this issue;
Some parents do buy the first house for their kids or at least help them with the deposit for the first property. However I have spoken to parents whose view is that kids should work and raise every penny themselves. That way they will value their houses and they say that if you just hand things over to them they won’t appreciate them. These parents’ arguments is that they have seen it happening from friends or family members.
I however would like to be able to help my kids with their first home, because when students graduate from University they are carrying a mountain of debt. I have been there and walked that journey so this makes buying a house even more difficult if not impossible.
Would you consider helping your kids with the deposit for their house? Or would you at least pay a deposit? Or do you think kids should work and raise every penny they need to deposit a house?
What are your thoughts on this issue?
Love and blessings,