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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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![/quote]

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

This---if your parents have the money, why wouldn't they help their kids?  They cannot take the money with them.  Gifting it to the kids/GK NOW has much more life impact than waiting until they are 80+ and dead
[/quote]

What is there to be proud of yourself for? You can be happy with it but there’s nothing you personally did to achieve and be proud of yourself for. You were just born into money. [/quote]

You are overestimating this pride thing. [/quote]

I don’t think most people care about having “pride” in saving up a downpayment.

I mean if you do manage to come from nothing and scrimp/save to get on the property ladder that is something to be proud of. But I wouldn’t turn down help from my parents just so we could experience saving for it on our own.

In fact because of family help we managed to buy a home pre-pandemic and then refinance to a 2.75% rate. If we had waited to save up the entire DP on our own, we would have completely been priced out of our neighborhood. So I’m very appreciative that my parents were in a position to help DH and me attain home ownership earlier on in our careers/we don’t have to worry about moving our kids. Just like many parents want to help send their kids to college, many also want to help them buy a home so they can have more opportunities in life. [/quote]

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