If your parents gave you a money to buy your first home
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Anonymous
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Did you know well ahead of time they would do that? Like, had you been told since childhood that when you got married, graduated college, reached a certain age, etc. they would give you X amount for the down payment?
Or was it something very unexpected? |
Anonymous
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Not exactly the same, but I've always known I had trusts, and that I and even my great, great grandchildren would never have to work a day in our lives.
So I've always known. |
Anonymous
| My parents didn't outright gift me the money (as in, with no expectations of being paid back), but they loaned me a large chunk of money. It was very unexpected and they offered it, as opposed to me asking for it. I had no idea they would offer and I later came to find out my mom's parents had gifted her a down payment. |
Anonymous
You great great grandchildren? How much money are we talking? 100 million? |
Anonymous
I'm curious too! Does everyone have a trust on DCUM? |
Anonymous
| Unexpected, which I think was better. They gave me half the total downpayment --half as gift half as loan. After two years of loan repayments, they forgave the loan, which was very generous. Never discussed in advance. I knew they had helped my brothers, but I never knew the specifics and never asked. They made the offer when my husband of two years and I were expecting our first child and found a house we wanted to put an offer on. I hope to be in a position to do the same for my kids one day. |
Anonymous
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My father was annoyed that we rented a home after we got married. He viewed it as throwing money away. In an effort to get us in line with what he viewed as the "correct" way to live, he bribed us with down payment money so we would purchase property.
So I didn't find out until I was 25/26 probably. I had always known that my grandparents had loaned my parents money to do it, so I assumed that if I wanted to save on interest I could borrow from him. I didn't realize he would give it as a gift though. |
Anonymous
It would have to be more like 150 million. One person can have many descendants. Average 5 million per descendant. |
Anonymous
Nice and congrats. Can you adopt me? 
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Anonymous
Uh, no. But maybe I'm a minority here (which would make me a triple minority). |
Anonymous
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No, I didn't know in advance. I had the idea that if we needed assistance, they had the funds probably to help us, but no long-standing promise that they would. When we got started buying our first home, we worked out our mortgage budget and came to the conclusion that we needed to save an additional $20,000 to make a purchase. We asked my parents if they would be willing to help us in any way, and they gave us the full $20k. I knew they were financially able, it was more of a question of whether or not they were willing to do it. I would have understood if they had said no or only gave part--they'd always taught us to work for what we want.
Additionally, my dad (no longer married to my mom) has accounts set up for each of my kids, but I have no idea how much is in them, what they will be used for, or when he plans to make that information known. It could be hundreds of thousands for college, or enough money for a down payment on a car. I guess we'll all find out eventually. |
Anonymous
| Also have a trust and used funds from it for my down payment. The trust is from my parents, so yes. |
Anonymous
| No trust. Grandparents passed away and my mom inherited money. She offered when we were looking to buy a house as she wanted me to stay close to her and we could not do it without help. (small fixer upper, nothing lavish). |
Anonymous
No, I don't have a trust. I said someone would need at least 150 million. I didn't say that was me. |
Anonymous
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Sort of unexpected, but I had an idea we would get some kind of monetary gift.
My parents presented the option of: We will pay for a big wedding, or we will give you a generous down payment and pay for a small wedding. |