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Adult Children
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[quote=Anonymous][quote=Anonymous]My parents gave us 70k to put down and it helped immensely. We saved so much money in the long run by not continuing to rent in an increasingly expensive city and were able to buy right before home prices in our area started soaring. It set us up to save more money and start a family earlier. We plan to help our kids in the same way. [/quote] THIS^^ Our parents did not help, but when we bought our first house, we did so right after we had finished paying off student loans and had saved the 10% downpayment. Even with PMI and assuming 4-5% maintenance costs per year, our monthly payments/costs were slightly less than our average apartment (not luxury, not grad school level either, just a nicer/decent/safe place). So we jumped in because building equity was more important. But it would have been nice to not pay PMI and have the extra 10% given to us. [/quote]
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