Parents spend their lives acquiring land, houses for children

I often view myself to be a good land investor. In 2009, my parents sold their house in Hanoi for VND2 billion (US$81,500) and moved to Ho Chi Minh City and its neighboring Binh Duong Province to live with me and my two siblings.

They bought four 100-square-meter land plots in Binh Duong’s Di An City for a total of VND1.6 billion. By 2013, they gifted each of us one plot, which is currently worth about VND40 million per square meter. I built a rental property with three rooms on mine and live comfortably off of my inheritance.

In 2014, my wife and I bought a 330-square-meter plot of land in Di An for VND1.5 billion, which I plan to later pass down to our children. In 2016, I built a house on that plot that is now valued at approximately VND16.5 billion.

Three years later, we purchased a 2,000-square-meter plot in the southeastern province of Ba Ria - Vung Tau for VND500,000 per square meter to build a vacation home. The property is now worth around VND2 million per square meter. We plan to use it as a weekend retreat and, eventually, move there for retirement or if needed.

I buy land for my children instead of for profit. I will directly transfer the ownership of these properties to my children to avoid complications. My son, currently 16, will receive a 160-square-meter house and the adjoining 200-square-meter plot together worth VND10 billion. My daughter, currently 10, will get the 100-square-meter plot with rental property valued at VND4 billion, along with a 130-square-meter residential plot worth VND6 billion.

As for the land in Ba Ria - Vung Tau, my wife and I plan to move there for our retirement. It is located in a convenient spot that allows us to easily visit our children and grandchildren. After we pass away, this property will be divided equally between our two children.

*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.