

The Bank of Mom & Dad
The Bank of Mom & Dad – How to help your kids buy their first place
I hope that you’re sitting down for this… but real estate in Vancouver is expensive these days. It also seems as though the rate at which people can save for a down-payment, can barely keep up with the rising cost of real estate. So how can mom and dad help their kids? There are few options that you (as mom and dad) can consider. One would be simply to gift your children assets/money from your savings/portfolio. There are no tax implications for doing this, though you will effectively be giving up control of the asset/money. Another option would be to set up a joint investment account with your kid(s). This way, mom and dad can deposit money into the joint investment account, and the kids can use any portion of the cash in the account for their down-payment. Perhaps your kids don’t need help with a down-payment, but they do need help qualifying for a mortgage loan, In this case, mom and dad can either act as a guarantor on the mortgage, or they can co-sign the mortgage with their kids. In today’s market, the bank of mom and dad has never been more important, and if you are planning on helping your kids with their first home purchase, you should certainly consider the aforementioned strategies. If you’d like to know more about the specifics of any of the strategies, please let us know and we would be happy to help.
Written by:
Jon Glougie, CFP®, CIM®
Associate Portfolio Manager
Luft Financial, iA Private Wealth
This information has been prepared by Luft Financial. Opinions expressed in this article are those of Luft Financial only and do not necessarily reflect those of iA Private Wealth. Furthermore, this does not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors.
How do we elevate your wealth?
It begins with understanding your needs and creating a comprehensive and tailored financial plan to help reduce tax, manage risk and grow your portfolio over the long term. Learn more about how we help you achieve financial security and peace of mind.
News & commentary

April 2025 Portfolio Management Team Update
April 2025 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth April 16, 2025 SUMMARY Market Review: Most global indices declined in March to cap a challenging quarter, before President Trump’s reciprocal tariffs announced on April 2 triggered the biggest slide in U.S. markets since the 2020 pandemic. The […]
Read more
March 2025 Portfolio Management Team Update
March 2025 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth March 25, 2025 SUMMARY Market Review: North American indices fell in February on mounting concerns about the impact of a global trade war. The selloff intensified into March, triggering a 10% correction in the S&P500 that wiped out […]
Read more
February 2025 Portfolio Management Team Update
February 2025 Portfolio Management Team Update By Elvis Picardo, CFA®, CIM, Senior Portfolio Manager, iA Private Wealth February 25, 2025 SUMMARY Market Review: Global equities began the year positively with solid returns in January, but volatility in recent weeks underscores the risks that lie ahead. The TSX rose 3.3% last month, trading at a record […]
Read more