Reply to Buying a first home - did you get the downpayment from your family?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]

I grew up around here, always worked or interned in the summers. After college, I lived at home for about 9 months while paying rent to my parents and paying all my bills on my own.  I was working on the Hill.  For those 9 months, I saved up a small emergency fund and waited to find the right rental group house.  I stayed in that group house, while still working on the Hill, still paying all my own bills (didn't even have a family cell phone plan) for about 3.5 years.

Then my parents loaned me $100K for my down payment (with interest) to buy my first house. That was their offer, and I never expected it in a million years as they have always been on the self-sufficiency side of the spectrum.  At the time I bought, I was making 40K and I had two roommates join me in the house.  Lived there with roommates for 11 years.

[/quote]worked out for you nicely
It was the "paying rent to parents" that gave me the jump I needed to move out. I realized that with what I was paying I could live on my own, so I rented a room. They were very angry with me, but I moved out anyway. I was not even allowed to take my bedroom furniture.
I did not let that stop me. So I stayed in the rented room with a mattress on the floor. [/quote]

I know some parents that made their kids pay 'rent' and then when they bought their first house, they gave them the money as a furnish your house present.  I thought it was an interesting way to do it since you were saving the money without realizing it and didn't feel entitled to the money.[/quote]

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