We are used to reading about articles on buying a property for children’s future. This is because when they grow up, they could only afford a very small sized home or very far away home. So, parents buy for them so that the kids could also afford to stay in a place not so far away from them. They buy so that when the kids grow up and needs money to further their studies, the home can be sold and turned into money. In one particular advanced country, it is reported that parents are buying even when they have yet to have children! Haha. Yes, buying for ‘future’ children. The reason? They want their child to have the best quality of education.
Article in news.com.au here. Childless buyers line up for sought-after school zone Education is important and the young couples of Brisbane agrees. Parents are willing to dish out money for their children to get the best quality of education. Many buyers are weighing the costs of private school fees and the mortgage in a well performing schools. Here, public school fees are only $110 a year whereas it can go up to $30,000 for private schools. Thus, many parents are buying in school catchment areas to future proof their children’s education. Article quoted a parent, Paul Lynch. He shared that when he bought a home in 2007, the main concern was being within a $5 cab rise of Brisbane’s CBD. With that in mind, they were opting for a low-maintenance lifestyle in a four-bedroom apartment in West End so they are still within the school catchment area. He thinks this is the reason why people desperately want to live in the catchment area. Article in news.com.au here.
Actually, this is already something which parents in Malaysia are doing, except that most are doing after they have kids. My friend moved to Sri Damansara so that her kids could go into a nursery within walking distance and a primary school of her choice less than 5 minutes away. The cost of that terrace home is just RM1 million (Plus a few hundred k of renovation). Kids are the future of all the investments we made today, whether it’s for them or due to them. Think about it. We want the kids to grow up healthy and strong but we do not live at a place where they could have space to run around everyday? Happy buying a place for the kids yeah.
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Article written and edited by Charles. News article summarised by Dina Batrisyia.
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