Should Parents Help Their Kids Buy a House?
All parents want their kids to be happy, stable and reside in a safe place. For many, that means home ownershipbut in this economy, achieving that goal can be mighty tough. Mortgage lenders are requiring a greater amount of cash down than they have in the recent past, and a lot of people just aren’t earning as much as they used to.
So should you step in and save the day? That depends. A large donation requires considerable thought and preparation. You’ll want to make sure it makes sense for both you and your children. More, if you do chose to cut a large check to finance their first home, you’ll want to do so in the right way. Here’s a quick to gift or not to gift questionnaire:
Their Dream or Yours?
The first matter you need to explore is whether or not your children truly want to become a homeowners. By the