Gearing up to buy a home in your kids name | Marcus Luah

[@KeepItRealEstateSG]

Are property prices becoming harder for youngster to purchase a property these days? I am going to delve into this method called Gear Up where you as parents can help assist your child in buying a property in the future. Let me know your thoughts in the comment section below. TimeStamp: 2:50 Why is it getting harder to buy a private property 4:06 Difference between buying in 2017,2021,2024 5:41 Policies making it harder to qualify for loans 7:00 A method called Equity Term Loan 10:21 Is it worth paying extra interest for the term loan 12:33 Private property price growth 2014-2024 13:02 Delayed gratification 13:13 Time is crucial

[@melodyabauin5442]

Those can buy private before 35 is usually got heritance or combine with spouse parents help.

[@KeepItRealEstateSG]

True but these days youngster learn to make money online quite early too. Youngster start making money as influencers, e-commerce, freelancers during their school days is getting more common compared to the time I was still a student (many many year back haha)

[@gohbern83]

I certainly will not borrow/gear up and pay 20k interest on top of the existing mortage which i am servicing. At best, will give some cash and the rest is up to the kid to work for it and buy on their own. And if they cannot afford, why buy a 2 million property? Buy a lower value private property i.e OCR 3 bed room resale, and move up from there.

[@KeepItRealEstateSG]

You have a point there too :) thanks for sharing. You mean give them cash as down payment yah? Yes cos for my above example is more like if short of some cash to support the downpayment.

[@PYYYYYY]

Equity loan is only applicable for parents who are still working and have proper income. For this aging population, I’m not sure how many qualify. Unless my information is inaccurate; but happy to be corrected if I’m wrong.

[@KeepItRealEstateSG]

There won’t be accurate information cos singapore isn’t that small got different demographics and income status, so I won’t say you’re wrong in fact you’re mostly right cos this is quite a high level game plan

[@benng7306]

I think there’s a grey area in taking equity loan. To my knowledge, the money unlocked from equity loan is not allowed to be used to buy another property. I’m not sure if this still holds true.

[@coins_investmentsg]

kids should be independent and parents should not pay for their ppty, they can apply BTO. No money to buy car, then B.M.W (Bus, MRT, Walk)

[@lifengzhang5011]

“Kids should attend school without tuition, they can study themselves, not smart enough, then go work, or technical institution to learn a skill.” Kiasu mah. 😂😂

[@focus168168]

in before, billionaire and multi-millionaire children need to fend for themselves. No wonder rich get richer. Another $2mil richer. 如果我自己输在起跑线。现在，有能力，还要孩子输吗？This is independent of his/her own ability in the workplace. "The highly-debated presidential suite at CityLife@Tampines executive condominium (EC) was sold for S$2.05 million just two hours after bookings began on Saturday morning, The Straits Times reported. The 4,349 sq ft penthouse was bought by Ms C. Koh on behalf of her younger brother and his wife who are based in the US. The couple is set to return to Singapore next year. However, Koh's 56-year old businessman father will pay for the bulk. "My son can't afford it, he's only a salaried employee," he said."

[@PYYYYYY]

Kids should be ask to leave their parent’s place either before or after they graduate, to work, to finance their education and rental, in general to fend for themselves. Just stop being strawberries.

[@coins_investmentsg]

@@PYYYYYY I think they can still stay in their parents house (they can offer to pay rental to their parents if they want to), then they can find a partner to apply for BTO and move out.

[@KeepItRealEstateSG]

Yeah most youngsters nowadays are not so into cars Liao in my own observation (not saying I’m right) Asset is the biggest worry for most of them which they are really starting to make money earlier in their lives compared to my times as a student.

[@StoryofHaruka_AI]

Rich parents

[@KeepItRealEstateSG]

Depends on what’s rich to you ;)