Investing in the Future
APRIL 10, 2008
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Investing in the Future
Junior’s all grown up and on his own. Or so you thought. Finding a first (or second, or third) home might be proving more difficult than he—or she—expected, especially given the increasingly daunting mortgage hurdle.
Parents are finding that purchasing an apartment for their grown children may prove to be a great investment on several fronts: Mom and Dad actually save money compared to the alternative of co-signing and subsidizing sky-high rents while their son or daughter begins to climb the career ladder. They can make a significant investment that may pay off quite well later in property value. And they may want the apartment later as a pied a terre when the young one has moved on.
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