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 Parents buying a home for an adult child:                     A case study

Parents buying a home for an adult child: A case study

If you’re thinking of buying a home for an adult child then this case study might be of interest to you.

This third case study, involving a a separated parent and their adult child who both live in Ireland. Because of the separation and the sale of the original family home, the adult child was no longer in the position of having his original family home. The parent, who was Breffnie’s client, wished to purchase a home for his child but was exceptionally busy and found it difficult to set aside the time to view properties with his son. They were both feeling frustrated.

Breffnie provided, apart from her usual services, the role of mediator who refined the wishes of both parties to find a property that the parent was happy to buy and the son was happy to live in. Breffnie took on the responsibilities of setting agendas, outlining schedule of next steps and basically steering the property purchase to completion.

Initially when the son and his girlfriend approached Breffnie they were planning to buy an apartment. But, after some conversation, Breffnie realised that these two people were actually quite interested in home-making. They both enjoyed gardening and cooking and Breffnie realised that an apartment would not help them live the lifestyles they envisioned. An apartment would not give them access to a neighbourhood and community that would help them live full, creative lives. The value that Breffnie brought to this client was:

  1. Liaising with all parties involved.

  2. Helping them clarify their vision and plans for the future and how the right property could add to that.

  3. Finding a suitable house in an area that none of the parties had considered before, negotiating with the selling agent to buy it and following the process through till the client had keys in his hand.

Listen to the full podcast below or on Podbean or iTunes.

Buying for investment with estate agent Clare Connolly

Buying for investment with estate agent Clare Connolly