So what do kids have to do with real estate? Well, this question came to me this morning when I got an e-mail from a client who is going to be looking at homes over the next year. She is concerned about buying too nice of a home in light of concerns that her children are getting too spoiled.
I totally understood. I live in Orinda. And, although I love Orinda, my kids (who are 7 and 9, going on 27 and 29) have definitely had their perspective on life altered by the opulent lifestyle around them.
My daughter, Grace, asked me the other day why we aren’t going to France over spring break. Hmmm–I paused. How does a mother respond to that? I have to admit that I gave the stereotypical answer–”when I was your age, I was lucky if I got to…!” But on further reflection, I realized that I need to better address this problem with my children. There is no getting around it.
But I think the answer to this problem can be a plus to our children. We need to teach them that trips to France only come to those who work hard, who are diligent and reliable and who work hard at school. Yes, there are those in my community of Orinda (and in other local communities) who inherited their wealth. But usually even those born of money have to work hard to keep it or to keep their family business thriving.
And, money can be a curse. I have a personal family history to prove it. My grandfather inherited a large trust fund at the age of thirty. His parents had both died and they left he and his sister a large sum. But instead of using the money well, my grandfather stopped working, bought new cars and motorcyles ever other week, and eventually drank himself to smithereens, living out his final days in a fleabag hotel paid for by dividends from his remaining stock holdings.
So, alas, there was no trust fund for me to inherit, but the good news is that I have a great and real lesson in the family to teach my children–nothing comes without a price.
The bottom line is that we can all enjoy the beautiful communities in which we live, but we don’t have to lavish our kids with everything their friends have (although I have to admit that taking a trip to France doesn’t sound bad!). And, hopefully, they will want to work hard so that their families can enjoy what they had.
Happy Tuesday…
