FLOURISHING AFTER 50: Our son isn’t interested in buying a property. Is he going to be left behind?

Dear Vanessa, 

My husband and I are trying to help our son buy his first property, an apartment. We’ve done the research, looked at places for him, and have even mapped out what he could afford with a mortgage. But the problem is, he doesn’t seem all that excited about it. In fact, every time we bring up loans and repayments, he seems reluctant to commit.

We worry that if he doesn’t get into the property market soon, he might never be able to. Prices keep going up, and we know that owning a home can be a great way to build wealth over time. But is there another way to help him secure his financial future if he just isn’t keen on taking on a mortgage?

We’ve considered giving him a lump sum to invest elsewhere, but it’s hard to know if that would be the right move. Should we be encouraging him more, or is it okay to step back? We don’t want to push too hard, but we also don’t want to see him left behind.

Would love your view.

Rachel.

Dear Rachel,

It’s natural to want to help your son get a strong financial footing, and you’re certainly not alone in worrying about young people being priced out of the market. 

Homeownership has long been seen as a sign of financial security, but it’s importantto remember that owning property isn’t the only way to build wealth.

Why He Might Be Hesitant

First, let’s consider why your son might be reluctant. Taking on a mortgage is a major commitment, and for someone who values flexibility, it can feel like a burden rather than an opportunity. Some young people prefer to keep their options open, especially if they’re unsure where they want to live long-term.

That said, if he does want to buy eventually but is nervous about taking that step, it may help to give him more confidence. Before committing to any property, he should understand what kind of mortgage he would qualify for and what his repayments would look like.

A free tool like my Mortgage Tracker can help him compare rates and find the best deal when he’s ready to buy. 

Alternative Ways to Build Wealth

If your son remains uninterested in property, there are other ways to help him build financial security

1. First Home Super Saver Scheme (FHSSS) – If he wants to buy in the future but isn’t ready now, the FHSSS allows him to save for a home deposit through his superannuation fund. He can make voluntary super contributions (up to $15,000 per year, to a total of $50,000) and later withdraw those funds, plus investment earnings, when he’s ready to buy.

This offers tax benefits, as concessional contributions are taxed at 15% instead of his marginal tax rate, and the money remains inside super until he formally requests a withdrawal from the ATO to purchase a home.

More details can be found on the ATO website.

2. Investing in shares or ETFs – Property isn’t the only asset that appreciates over time. A diversified investment portfolio can generate returns and be more liquid than real estate. If he’s hesitant about property, this could be a lower-commitment way to start building wealth.

3. Superannuation contributions  – If he’s not sure about homeownership, boosting his super early can have an incredible compounding effect. Even small voluntary contributions now could add tens of thousands to his retirement savings.

4. A family trust or managed fund – If you’re looking at long-term financial security, a managed investment or family trust could provide growth without tying him to a mortgage.

If you’re unsure how best to support him, speaking to a financial adviser can help clarify the best options based on his long-term goals and your capacity to assist.

I strongly recommend seeking professional financial advice to ensure that any support you provide works in his best interest—and yours. Your son can start by visiting my Find an Adviser page.

Your son might not be ready for property yet, but that doesn’t mean he won’t be later. 

The key is making sure he’s empowered with the right financial knowledge and options, rather than feeling pressured into something he’s unsure about. With the right strategy, he can still build wealth – whether it’s through property or other means.

All the best,

Vanessa.