Reply to How common is it for young adults to receive life changing amounts of money from family?

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[quote=Anonymous]My parents paid for my college, but I also had a ton of scholarships and went to an in-state public so it wasn’t a massive sum of money. My husband’s parents also paid for his college, and he did go to a private college and it was fairly pricey. Other than that, no we haven’t received a lot of money from them. Paying for college was great though.

I do know a fair number of people in this area whose parents have given them a good amount of money toward a down payment on their first home. Anywhere between $50k-$100k. When added to the DP money the couple has already saved, it’s significant. It means more equity in the home and then that equity can roll over to the purchase price of a larger, more expensive home in a few years. Especially for those who could buy their first home after the market crash from about 2009-2012 when prices were really low. We know a dual-fed couple making about $220k HHI, divided relatively equally, in a $1.4 million home even with child care expenses, because of exactly this situation. [/quote]

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