Father Purchases $370,000 Investment Property for Three-Year-Old Daughter to Combat Housing Crisis
In a bold move to counter Australia's deteriorating property affordability crisis, one Sydney father has secured his three-year-old daughter's financial future by purchasing a $370,000 investment property in her name before she even begins primary school. The decision reflects growing concerns among Australian parents about whether their children will ever be able to afford homes in an increasingly expensive market.
Jordan Veleski, a former electrician turned buyer's agent, and his wife Kaitlin acquired a two-bedroom unit in Footscray, Melbourne, in August of last year as an investment for their daughter Florence. The purchase was made possible through a combination of generous family contributions and the couple's own savings.
The property acquisition began with Florence's milestone celebrations. The couple held a christening for their daughter that drew approximately 150 guests, reflecting their family's cultural traditions. Veleski explained the significance of this gathering, saying: "I come from a Macedonian background, so just ethnically we do big christenings. So you spend what you can." The generosity of godparents and grandparents, along with additional gifts from Florence's first birthday celebration, resulted in a substantial sum. Veleski recalled: "We got a fair bit of money back from godparents and grandparents, and we sort of pulled it together. We also did a first birthday, and people gave a little bit extra. When we counted it, we were blown away by people's generosity … So that's when we came up with the idea."
In total, the family accumulated $25,000 in gift money from well-wishers, which they supplemented with an additional $30,000 of their own capital to complete the property purchase. The strategy mirrors an approach Veleski's own parents took when he was younger. At age 18, Veleski received approximately $30,000 that his parents had accumulated from his birthdays and christenings over the years—funds he later used as a deposit on his first home.
Now at 37, Veleski recognizes that the property landscape has shifted dramatically since his own childhood. The path that worked for his generation no longer suffices. He shared his reasoning with his wife, stating: "I said to my wife, we have to come up with a different way to make money or to get our kids ahead because the way things are going with property, and I see it day in day out, just that $30,000 at 5 per cent over the next 20 years is not going to keep up when you leverage it with property."
Veleski is unequivocal in his assessment of the current housing market. He believes it has "100 per cent" become harder for younger generations to purchase homes in Australia. The cost-of-living pressures facing the nation have prompted him to take action now rather than hope circumstances improve. He expressed his frustration and determination, saying: "What's happening right now is so wrong, the cost-of-living crisis is so bad. So I'm just trying to find ways for my kids to be able to buy something in the future. And that starts with me."
The Footscray property that Veleski selected for Florence was strategically chosen for its financial accessibility and geographic positioning. Located near the newly constructed Footscray hospital and within proximity to Melbourne's central business district, the unit represents a potentially strong long-term investment. Since its purchase at $370,000, the property has already been revalued by the bank at $415,000—a gain of $45,000 in value within approximately one year.
Veleski's plan extends beyond the initial purchase. He intends to have the mortgage fully paid off by the time Florence reaches 25 years of age, positioning her to inherit an asset free from debt during her early adulthood. As the founder of Flo Buyers Agency, Veleski brings professional expertise to his personal investment strategy, ensuring that the property acquisition was made with careful consideration of market conditions and long-term wealth-building potential.
This unconventional approach to providing for his children's future reflects a growing trend among Australian parents seeking innovative solutions to the generational housing affordability crisis that conventional pathways no longer adequately address.