In this episode, we are once again joined by property investor and executive leadership coach, Di Foster. After helping herself and her husband into property investment, Di began wanting to help her father, nieces and nephews all get into the property market.
What Di discovered is that each generation needs to get its head around a slightly different concept.
- For Millenials, it's lifestyle. Millennials need to understand that they don't need to live in their first property. Sometimes it's more appropriate to buy an investment property and get exposure to the property market, rather than buying an owner-occupier home
- For Gen X'ers it's about cash. Gen X'ers need to be reassured that they aren't going to have to sacrifice their lifestyle and cover all of a second mortgage in order to be able to hold the property
- For Boomers it's about debt. So many Boomers work their whole lives to get out of debt, and then they need to get back into debt in order to get ahead.
The drivers to get into an investment property are also different. For Millennials it's about getting ahead themselves. Gen X'ers want to sort themselves for retirement and for their children, and Boomers want to maintain their capital position in retirement in order to look after their future generations.
