It's okay to rent when you're just starting. Question is for how long? So we bought our kids a condo. YOU DID WHAT? !!!
Who would give their kids a condo in their late 20's? That's crazy! Right? For some it maybe so, for us it was time. My boys have been independent for the last two years. Living downtown, going to work and getting part time jobs. It was a struggle for them. No question. But they will not have it any other way.
Each parent has their own way to raise their children. We can read all the self help books out there, really? I listen. I read. I debate. Bottomline we will raise them on how we grew up with a twist. This condo will be their OWN. They will learn how to take care of it, clean it and be happy in it. It is their own. Why pay someone else's mortgage when we can start them to gain financial stability later on. It is an investment and with any investment comes with risks. For as long as we are here to guide them, advise them and be there when they need us. I know it was the right thing to do FOR US.