Yes. My widowed mother offered it, as she wanted us to be closer to her and we couldn't have afforded it otherwise (have since had kids, earn more etc but this was in younger days). Would never have asked if she hadn't offered but she did and we were extremely grateful. Doesn't mean we aren't adults, doesn't mean we can't pay our own way, just means we took an offer (she was very wealthy and the gift didn't affect her financially at all) that made everyone involved happy. Worked out wonderfully.

No. And honestly, it never occurred to me to ask them. Both DH 's and my parents have plenty of money. However, we would never accept money from them to purchase a home. If we were in a dire financial crisis, it would be different. But to buy a home? No. We are adults capable of earning our own way.

Nothing. We put 10% down on our first house. I was was 35. DW 30. Neither of our parents could give or loan us money. No trust fund babies here. We saved our money and bought the first house for $230K in Kensington in 2001. We bought our second house in Falls Church for $450K in 2008. Me - Fed worker. DW - SAHM. HHI - $140K.

Big fat ZERO. But I'm a local, not some privileged transplant whose parents set up an investment account for me and slid me $20K to $500K+ to buy something.

You can get 100% financing like I did, so don't worry. Just contact a local prosperity mortgage branch.

Nope. In fact, for a while I had to send my mom a $500/month check. I guess you'd call it saving for a house in reverse.

Not a penny. And that's why I didn't buy my first house until long after my friends who had parental funding. Like OP, most of my friends received large down payments from family.

My parents gave me $10K towards the $40K combined closing costs and down payment on my first home (bought at $139K).

I bought when I was 30 years old. I started saving when I was 25. At first I put $100 per paycheck in savings (I was making $40K per year) and later, as my salary went up and I got closer, I started putting more and more. By the time I was 29, I was making about $60K and I was putting about $500 per paycheck into the "house fund" so the bulk of my $30K was in the last 2 years before I bought. Much easier to do when your young and single than after I got married and had kids. My disposable income was entirely mine to decide and I could find loads of ways to not spend the money and put it in my house fund.

Nope!!

Not a penny.

Hello there. I'm one of those development workers earning in the mid 70s. My husband's salary is significantly higher but came into our marriage with a lot of debt and very little savings (all of which has changed now).

When we bought our first house together we used money I had inherited from grandparents when they passed away. I think they left me about $100k in 1996...which grew...and then shrank. Total value was about $150k in 2009 when I sold off about 50% of the investments to put down a down payment on our house. Purchase prices was 465,000 and I think we put down 15%.

Officially $0. However, my parents put money in an investment account for me when I was born. For 26 years the stock paid dividends and was reinvested. Occassionally they added to the investment account for holidays and my birthday. I cashed it out for my downpayment. It was worth about $50K.

My parents set aside a certain amount of money for my college, but I graduated in less than 4 years so I had some left over. In 2001 I bought my first place in Brooklyn - the money left over was enough for 20% down. 10 years later I sold it for more than 2x what I bought for and bought a small house in AU park. For me it was really good timing and luck.

I would talk to your parents. I don't think there is harm in asking, and they of course can say no.

14k

Also why haven't you saved any money 31 isn't young.

"Whah" should probably cover everything you need to say when you ask your dad for this money. Add in an "it's not fair" to seal the deal.

Hey guys,

First time posting in this forum.

I'm 31 and some of my friends are starting to buy their first places here in DC. Pretty much everyone I know who is buying is getting a HUUUUUUUUUGE check from their parents for the downpayment. I don't know a single person who is actually buying a place via their own hard-earned savings. Their parents are essentially giving them checks for $50-150K and then they have a very nice place.

The kicker here is that I make more money than most of these guys (I'm just a hair over $100K, most of these folks are development workers or fed making mid 70s).

How much help did you get from your family when you bought your first place? Did you ask your parents or did they come to you? I know my dad has some money, but I feel awkward asking him for a handout like that. At the same time, I feel like I'm flushing my money down the toilet by renting. Combine that with students loan payments and generally high cost of living, and I feel like I'm spinning my wheels here.

It would be good to hear how much DCUM readers received from family, if any, and the cost of your first purchased home.

Thanks!