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is buying real estate for your parents good ?
let’s take a scenario – you have been working abroad ( say usa ) for six years and have come back with a decent amount of cash .
should you buy your parents a home ?
the answer is a resounding yes.
the reason . real estate appreciates slowly , let’s say 10 percent per year .
- which means the price will double in 72 / 10 = 7 years
- it will double again ( now four times the buying price ) in another 7 years
- it will double again ( now eight times the buying price ) in another 7 years
- so , in 21 years , the price has gone up 8 times your buying price
for simplicity sake , we have excluded the property taxes and the maintenance to be paid per month ..