Reply to Can we talk about parents buying their adult children luxury homes

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Oh please.

My parents did this, and it helped us build equity in a good investment. After a while we sold our first home and bought our second without any additional help.

It’s not different than any other advantages the well off have. [/quote]

Did you pay your parents back the initial sum they gave you from the equity?  I can’t imagine just keeping such a large sum of ‘help’ if I was able to pay it back.  Dh and I did the normal scrimp and save for our first starter home and built our own equity.  It’s much more satisfying knowing mommy and daddy didn’t do it for us.  [/quote]

My parents gave me $10,000 toward a down payment on my first condo 15 years ago, which I didn’t pay them back for. They also loaned us $90,000 for a down payment on the house we bought two moves after that, because we bought it before we sold the other house; that, we did pay them back for as soon as we closed on the sale of the house. It has never occurred to me that they would buy me an entire house, the help they gave us has been more than generous enough. [/quote]

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