For many people, being able to buy their first property offers a sense of freedom, and it is something that most parents will undoubtedly hope their children achieve one day.
The main thing is for children, who will grow into young adults, to understand the value of property, says Richard Gray, chief executive of Harcourts South Africa.
Whether you're a homeowner or just looking to teach your children about the value of property, there are plenty of fun and educational ways to do so.
“Real estate is an essential part of our lives, and it's never too early to start teaching children about it. By making it fun and engaging, we can help them understand the value of property and the responsibilities that come with it.”
Board games
One of the activities Gray suggests is playing real estate board games with your children.
“Board games like Monopoly, Cashflow, and The Game of Life can teach children about buying, selling, and investing in property in a fun way. These games provide an opportunity to learn about managing finances, negotiating deals, and making strategic decisions."
Take a tour
Another fun activity he recommends is going on a property tour.
“You can take your children on a tour of your local neighbourhood or show them different types of properties online. This is a great way to introduce them to the different styles of homes, property values, and the features that make each home unique.”
Build models
For more DIY-orientated families, Gray says you can create home models using simple materials.
“With a few basic materials such as cardboard, paint, and glue, children can create their own home models. This activity allows them to be creative and learn about the different elements of a home, such as the roof, walls, and windows.”
Real life
He also recommends involving your children in your own real estate decisions, such as buying or selling a property.
"This can be an opportunity to explain the process of buying and selling, including the role of real estate agents, the importance of market research, and the financial implications of owning a property.
Furthermore, Gray suggests encouraging your children to be creative and design their own dream homes.
“This activity can be a fun and engaging way to teach children about the different features of homes and how to prioritise what is important to them. It can also encourage them to think about their future goals and aspirations...
“By making real estate fun and interactive, we can help children understand the importance of property ownership and investment. We encourage parents to take the time to teach their children about real estate in a way that is engaging and memorable.”
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