Did you get parental help to buy any houses you own?

[Anonymous]

Anonymous wrote:

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Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I used family money for housing and I definitely wouldn’t say I’m proud of my house or see it as an accomplishment. It’s just a house. I don’t really feel I’m missing out though. I have other accomplishments I think.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I own a $2 million home and a $1 million home -- both without help. My kids bought houses with my help. I'm no prouder of myself than I am of them. So, nope. I disagree.

You’re also 60+. I am in my 30’s, it’s just different, trust me. Not comparable.

[Anonymous]

In laws gave us a bridge loan so we could buy our new house before we sold our old one. We paid it back quickly after selling the old house. Not sure if this counts as "help," but it was very helpful.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I used family money for housing and I definitely wouldn’t say I’m proud of my house or see it as an accomplishment. It’s just a house. I don’t really feel I’m missing out though. I have other accomplishments I think.

+1
Fine to get financial help but there’s nothing to be proud of. It’s not your accomplishment to be proud of. You can be proud of other things in your life.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I own a $2 million home and a $1 million home -- both without help. My kids bought houses with my help. I'm no prouder of myself than I am of them. So, nope. I disagree.

You’re also 60+. I am in my 30’s, it’s just different, trust me. Not comparable.

I know it's different nowadays and more costly. Trust me. But I have to assume that you (or your spouse/partner if you have one) could afford your expensive house at your young age because you sold out and got some soulless high paying corporate type job that does no one on the planet any good. I didn't want my kids to do that, and I'm proud that they didn't. I'm glad they chose another route.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I own a $2 million home and a $1 million home -- both without help. My kids bought houses with my help. I'm no prouder of myself than I am of them. So, nope. I disagree.

You’re also 60+. I am in my 30’s, it’s just different, trust me. Not comparable.

I know it's different nowadays and more costly. Trust me. But I have to assume that you (or your spouse/partner if you have one) could afford your expensive house at your young age because you sold out and got some soulless high paying corporate type job that does no one on the planet any good. I didn't want my kids to do that, and I'm proud that they didn't. I'm glad they chose another route.

Well this is a weird comment. Did you accumulate your wealth taking care of orphans? What is an acceptable job that allows a person to not have to get an allowance from their parents as an adult?

[Anonymous]

Anonymous wrote:I don’t understand those who are just getting 1 million dollars towards a house. There are tax implications.

Not really. Lifetime gift tax exemption is over $13M per person.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t understand those who are just getting 1 million dollars towards a house. There are tax implications.

Not really. Lifetime gift tax exemption is over $13M per person.

Yeah I mean people who are going to have an estate bigger than the exemption probably have some sort of comprehensive plan so they might not do this with a cash transfer but they definitely might, it just depends on their assets and their plan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I own a $2 million home and a $1 million home -- both without help. My kids bought houses with my help. I'm no prouder of myself than I am of them. So, nope. I disagree.

You’re also 60+. I am in my 30’s, it’s just different, trust me. Not comparable.

I know it's different nowadays and more costly. Trust me. But I have to assume that you (or your spouse/partner if you have one) could afford your expensive house at your young age because you sold out and got some soulless high paying corporate type job that does no one on the planet any good. I didn't want my kids to do that, and I'm proud that they didn't. I'm glad they chose another route.

You’re reaching here and quite frankly rude. No sorry, not a soulless high paying corporate job. Shaming people your kids age who have to work? It’s pathetic. Maybe you need to do a little soul searching yourself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No, we did not get any help from our parents. Bought a 1.1 million dollar home and put $200,000. I’m proud of us!

Are you saying that you'd be less proud of your parents helped you? Why? What else should rich parents do with their money?

What is there to be proud of if your parents helped?
If they earned it themselves, they accomplished a difficult goal. If you’re parents give it to you, you didn’t have to do anything for it or put work or effort towards it.

What are you talking about? You still have to have a good job and make good money and have good credit to qualify for a mortgage for a decent house. So, yea, nothing to be proud of if the parents give you a house, but if they help with a down payment? Of course it's still something to be proud of.

I don’t think it’s the same. Especially if you personally didn’t have the cash for the full down payment yourself. (from your career, not additional help from parents)

Interesting. Because I sure do. I have hardworking kids who have always done everything right, so yeah I've helped them with down payments and think they should be proud. If they were deadbeats I'd never have done it. I'm also proud of MYSELF that I was able to help. My own parents couldn't.

Don't be jealous of people with more money than you.

You’re assuming they have more money. I own a 2m home with no help. They might be hardworking but surely you can see why someone who saved $200k+ with no help should be prouder? It’s more of an accomplishment. It just is.

I own a $2 million home and a $1 million home -- both without help. My kids bought houses with my help. I'm no prouder of myself than I am of them. So, nope. I disagree.

You’re also 60+. I am in my 30’s, it’s just different, trust me. Not comparable.

I know it's different nowadays and more costly. Trust me. But I have to assume that you (or your spouse/partner if you have one) could afford your expensive house at your young age because you sold out and got some soulless high paying corporate type job that does no one on the planet any good. I didn't want my kids to do that, and I'm proud that they didn't. I'm glad they chose another route.

Well this is a weird comment. Did you accumulate your wealth taking care of orphans? What is an acceptable job that allows a person to not have to get an allowance from their parents as an adult?

Agree 100%, It’s a very emotionally immature boomer. Sad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:100k gift for DP towards first house.

Proceeds from sale + 350k gift towards 2nd house DP.

In return we gave them 3 grandkids so it was a win-win.

We gave our parents the same and didn’t get that. I think we are in a unique situation with super wealthy parents and absolutely zero help. Also got an athletic scholarship that covered college in full. No help with education, wedding, travel to see them, down payments, grandkids and meanwhile they live in an 8m house. The most we got was $100 towards one of the kids college account lol.

What did you do to upset them so much?

[Anonymous]

Anonymous wrote:Did you get parental support (trust fund or DP help)?
How much is your current home/s worth?

Nope. Nada. Zilch.

Gen X

[Anonymous]

Yes, downpayment of $200,000 on $1m house. Sold the house 7 years later for $2m.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:100k gift for DP towards first house.

Proceeds from sale + 350k gift towards 2nd house DP.

In return we gave them 3 grandkids so it was a win-win.

We gave our parents the same and didn’t get that. I think we are in a unique situation with super wealthy parents and absolutely zero help. Also got an athletic scholarship that covered college in full. No help with education, wedding, travel to see them, down payments, grandkids and meanwhile they live in an 8m house. The most we got was $100 towards one of the kids college account lol.

What did you do to upset them so much?

Nothing, we have a really good relationship with them and see them often. Not sure why they don’t help at all or have any idea how much wealth they have.

[Anonymous]

0. We bought our first house entirely on our own in 2001. We’re on our 3rd primary house now. Primary house is worth $3M and we own an investment property worth $650/700k ish.