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

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[quote=Anonymous][quote=Anonymous]

Sure, I think [b]it's one thing to help with housing, it's another to put them in a home they would never get close to be able to afford[/b]. Forgetting even [b]just the principle and interest on these mortgages the property taxes and maintenance alone on these houses would take a chunk out of their salary[/b]. There is also the matter of [b]what others in their circle think or know of them[/b]. I feel like this is almost a face saving or vanity measure for the parents. Yeah my kid only makes 55K but if I put them in a 800K house nobody will think that, they'll think they're "winners" just like me. 
[/quote]

Bold 1 - why is this distinction important?  if the child has proven they are responsible otherwise financially and this level of help is within their means, this can be a big help

Bold 2 - what is to say the parent didn't buy it outright for them?  Then they just have to pay property taxes and maintenance.  Or maybe the parent plans to continue to provide for them to pay these too

and I can't stress this one enough

Bold 3 - mind your own business.  They don't care what you think [/quote]

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