[Podcast] Securing Their Future: Helping Your Kids Enter the Property Market, with Ken Raiss

Today, Ken Raiss, director of Metropole Wealth Advisory, joins me to discuss a topic close to the hearts of many parents.

We'll explore the various ways you can help your children enter the property market and secure their financial future.

So, if you’re a parent looking to support your kids in buying their first property, or if you’re just curious about the various ways to assist the next generation in achieving property success, I'm sure today’s discussion with Ken will be valuable.

He will share practical strategies and insightful tips to guide your children toward homeownership, ensuring they start their property journey on the right foot.

Essential tips for helping your kids enter the property market

How can parents help their children secure their first home amidst the challenges of today's housing market?

Today’s episode covers a wide array of strategies and tips to provide financial assistance, instil financial discipline, and navigate the complex landscape of property ownership for young adults.

• The current issue of housing affordability and how it affects young buyers
• Various methods of financial assistance, including direct gifts and their implications
• The benefits of loans vs. gifts, whether or not you expect your child to repay the money
• The importance of financial education and encouraging a strong savings mentality in young adults
• Factors involved in co-guaranteeing loans
  • Potential risks and impacts
  • Borrowing capacity
• Alternative strategies like rent vesting and their benefits
• The role of the "Bank of Mum and Dad" and its impact on the housing market
• The importance of careful planning and thorough documentation when offering financial help
• Government assistance programs and tax strategies to ease the financial burden for first-time buyers

This episode provides a guide for parents looking to support their children in achieving homeownership.

By combining practical strategies with professional advice, Ken and I ensure that both parents and young adults are well-prepared for the financial journey ahead.

Whether you’re a parent or a first-time buyer, this episode offers valuable insights to help you navigate the challenging housing market.

Links and Resources:

Subscribe to our new Demographics Decoded Podcast with Simon Kuestenmacher on Apple Podcasts or Spotify or YouTube

Ken Raiss, director Metropole Wealth Advisory

Have a chat with Ken Raiss and the team at Metropole Wealth Advisory to secure your financial future – click here

Get Ken Raiss’ report: Your Guide to Understanding Ownership Structures & Trusts – just click here

Why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here

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Some of our favorite quotes from the show:

“The cost of living means that you've got to pay more for your rent and for petrol and for other things. So it is really hard to save the deposit that’s hard for first home owners, and I guess that means that some people are staying at home a little bit longer.” – Michael Yardney.

“Just giving them money without the background financial discipline is almost a recipe for disaster.” – Michael Yardney

“There's virtually nothing you can do about most of the negative things that you read or you think about. When you read or think about negative things that you can't control, it leads to long-term stress because you can't change the outcome of those negative things.” – Michael Yardney

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