- Jasveer Singh advises Indian parents not to spend life savings building homes for children
- He says children’s lifestyles and cities often change, making family homes less relevant
- Parents should focus on their own retirement and financial well-being instead
Jasveer Singh, co-founder and CEO of Knot Dating, advises Indian parents to stop spending their entire life savings on building a family home for their children. His comments have sparked heated debate on social media. In a post on X (formerly Twitter), he wrote, "Stop building houses for your son and daughter. You are solving the wrong problem."
Addressing the Indian parents and future parents, Singh wrote, "Stop spending your entire life savings building a 'family home' thinking your children will return and live there one day. It sounds emotional. But the reality is very different."
Singh suggested that parents should prioritise their own well-being and financial flexibility over building a house for their children. He points out that children's lifestyles and locations may change, making it unlikely they'll live in the family home. Instead, parents should focus on their own retirement corpus and enjoy their lives.
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"I realized this when I recently visited my Nana ji's house," he wrote. "That house was built with decades of savings. A lot of sacrifices. The intention was simple - Build a home for the next generation. Just like most Indian families do."
But the next generation built careers and moved to bigger cities. And now no one lives in the house that once held dreams.
"Indian parents are solving the wrong problem. You want your son and daughter to grow, earn more, live bigger. But at the same time you expect them to live in the same house you built 30 years ago," he said. "If your son or daughter earns 10x more than you, their lifestyle will also change. Their city may change. Their home will change. Their world will change."
"Every 15-20 years homes become outdated and people move to new spaces that fit their life. So the house built with your entire life savings becomes irrelevant."
In conclusion, Singh wrote, "But please stop sacrificing your entire life to build a house for them."
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Social Media Reaction
The post went viral within hours after it was posted. The post that reached over 338,000 users received mixed reactions from netizens. Some agree with Singh, others argue that having a family home provides security.
"As a parent, I invest in a house for my child to have as a backup. It is usually the worst-case option for the child, at least as a middle-class or upper-middle-class parent," one user wrote.
"This is silly. Parents must absolutely ensure their adult children all have houses in the place they live. Houses can ofcourse be sold and new one's bought wherever the children move to," wrote another.
