November 8, 2023 | Podcast
Episode 40. Navigating the ‘Bank of Mom and Dad’ in Today’s Real Estate Maze
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00:01:30 – Introduction to the ‘Bank of Mom and Dad’ concept
00:05:50 – The unique real estate landscape in Canada: Ample space, little affordability
00:13:20 – Generational challenges: High prices and stagnant wages
00:21:45 – Societal expectations vs. job market realities
00:30:10 – How parents can assist in the homebuying process00:31:30 – Gifting funds
00:35:40 – Co-signing mortgages
00:40:00 – Acting as guarantors
00:44:10 – Shared ownership arrangements
00:48:30 – Exploring family mortgages
00:53:50 – Rent-to-own dynamics between parents and children
00:59:30 – Leveraging home equity lines of credit (HELOC)
Whether you’re a parent looking to assist your adult children or you’re someone struggling to enter the real estate market, this episode is packed with insights and strategies to help you navigate these challenging times. Don’t miss it!
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