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  • Writer's pictureAnna Sharratt

As young couples move back home, what are the potential pitfalls?

Updated: Sep 10, 2023

Written by:

Anna Sharratt


September 1, 2019

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Read an excerpt:

Cindy Marques, a Toronto-based financial planner, has countless clients who are struggling to raise money to buy their own homes. “They’re not able to save up while paying rent," Ms. Marques says. “And a lot of them are prioritizing debt and sacrificing savings.”
Parents, too, are sacrificing, she says. “They could be earning rental income from those properties.”
But Ms. Marques says many parents recognize that the real estate landscape has changed dramatically – and they want to help their children as much as possible. Certain cultures, such as Asian and Southeast Asian families, are used to intergenerational living. “As well as allowing them to save, this also protect millennials from taking on more debt,” she says.
Ms. Marques advises parents that they should take steps to ensure young couples don’t get too comfortable, while encouraging them to save as much as possible. “Parents should levy a small rental fee,” she suggests, “because it keeps them accountable.”
She says that if parents want to help further, they can invest those monthly payments, presenting the couple with a tidy sum when they decide to move out and buy their own place. “Those payments can be stockpiled for a nice down payment,” she says.
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