Reply to Buying Property for Young Adult Children

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[quote=Anonymous][quote=Anonymous]My parents gifted me a large portion of the downpayment for my first home. It was such a blessing and set me up down the road to be able to climb the property ladder and afford bigger and better when the time came.

If I were to do similar for my children down the road, I would get them a duplex or 2+ bedroom place where someone else could pay a large portion of the mortgage.[/quote]

Thought about doing this, but if I did, my kids would not understand how ridiculously expensive the DC area is compared to the rest of the country. I want them to explore this as it’s so important politically. Also, there will be choices - do you want the big wedding, or a smaller one and some $$. Either is fine by me. You want a 200 person wedding? What’s the budget and how can we accommodate that? I know a lot of young people living in luxury condos/townhomes/homes that are well beyond their means and they have no clue how to establish themselves on their own.

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