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Reply to "Giving kids a down payment "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This board is insane sometimes. Idk a single person whose parents helped them buy a house [/quote] In my experience, it is pretty common in affluent suburb to have parents that help with the down payment. It's a nice thing to be able to help you kids, and then they will pass it on to help their kids. It provides a nice cushion in life. Even if you did not experience that, you can try to start the tradition for your kids.[/quote] Is it nice? That’s debatable. There is often a lot of toxicity attached. Controlling parents, personality disorders in parents and/or children. [/quote] But not always. We freely give to our kids. Only requirement is they still have a job (single no kids so that's a given at this point). And that they don't waste it on very high end stuff (by that I mean a $100k vehicle--we are wealthy and haven't spent that much ourselves. We offered to make last car a luxury one for them and they didn't want more than a Honda) But there are not any other string or manipulation attached. We offer to take them on vacations with us (including sig others as well). It is their choice to join or not--we will try to adjust timing of trips if needed so all can come. But it s not a requirement. So far they always come, as who doesn't want an all expenses trip to Europe or a warm island with luxury accommodations. But if they don't want to come that is fine [/quote]
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