re: Parents Buying Kids Homes

Posted by BluegrassBelle

RIP Hefty Lefty - 1981-2019

Member since Nov 2010

108096 posts

Posted on 5/26/26 at 9:08 am to Snipe

quote:

My parents gave me something much more valuable.

Financial wisdom and a solid work ethic. With those two gifts I and my siblings have managed to live within our means and build stable wealth for ourselves and our families. Now my children have learned the same lessons and it's truly a blessing to see them building their lives as successful independent adults.

My parents helping with my college tuition or helping with a down payment on my house wouldn't have changed my work ethic as a whole. But it would've been helpful in my 20s when I was struggling without a college degree. I didn't have the opportunity to save a lot of money when I was in my teens and working because half of my paycheck went back to my parents.

I also live within my means, have a nice home that I own with my fiancé, and we live comfortably. And our home isn't 600K+. And I very much understand the value of a dollar. We teach the step-kid how to be financially responsible (especially since her bio mom isn't). But we've also put back money for her when she turns 18 that will give her a leg up over some of her peers.

Posted by lsu777

Lake Charles

Member since Jan 2004

38113 posts

Posted on 5/26/26 at 9:13 am to Snipe

quote:
I'm sure these parents means well but they're not really helping, long term.

yea helping your kids by relieving the financial burden of buying a house to start a family is really not helping them out at all long term right?

you do understand how fricking stupid that sounds right? say it outloud

you also understand that parents can do all the things you said your parents did and still help their kids

honestly....there are so many people that just wait to give their kids inheritance when they die when that doesnt help them nearly as much as 25-50k would when they are starting out. what is the point of waiting to give that 50k when you die vs earlier?

what helps more....50k at 65 or 35k at 30?

Posted by GreatLakesTiger24

Member since May 2012

60770 posts

Posted on 5/26/26 at 9:20 am to lsu777

Kids these days should feel lucky to pay $50,000 for a down payment and $2500 a month mortgage for a house in a neighborhood that’s past its prime. Why would a parent deprive their child of this privilege?

This post was edited on 5/26/26 at 9:21 am

Posted by SECretariat

Member since Jun 2015

365 posts

Posted on 5/26/26 at 9:22 am to Raging Tiger

quote:
As a male in his 30’s who has had friends whose parents have helped I cannot look at them in the same light anymore. Easy button activated.

Ever heard of dowries? The idea of the parents buying a home for the new couple goes back to 1754 BC Babylon, in the bible 1000 BC, and Greeks 500 BC. You get the idea. It just mean "early inheritance" and has been around since recorded history.

Posted by Gorilla Ball

Az via La

Member since Feb 2006

13271 posts

Posted on 5/26/26 at 9:23 am to Raging Tiger

My parents never helped me. I never asked and wouldn’t have wanted it.
They did a great job
I appreciate everything I earned

Posted by Antonio Moss

The South

Member since Mar 2006

49440 posts

Posted on 5/26/26 at 9:26 am to Snipe

quote:
I'm sure these parents means well but they're not really helping, long term.

Are you sure your parents gave you financial wisdom?

“We have the ability to eliminate a significant amount of accrued debt early in your life allowing additional capital to be invested earlier and in substantially higher amounts, but this Snipe guy thinks that isn’t financially wise and we aren’t doing you any favors …”

Posted by jchamil

Member since Nov 2009

19546 posts

Posted on 5/26/26 at 9:32 am to Snipe

quote:
My parents gave me something much more valuable.

Financial wisdom and a solid work ethic. With those two gifts I and my siblings have managed to live within our means and build stable wealth for ourselves and our families. Now my children have learned the same lessons and it's truly a blessing to see them building their lives as successful independent adults.

Would love to see pictures of these first time homes for 6 and 700K......

I'm sure these parents means well but they're not really helping, long term.

Get ready to have your mind blown, but...what if I told you the children of successful people are often successful themselves? Did it ever occur to you that just maybe they inherited the same attributes and work ethic that made their parents successful?

Posted by N2cars

Member since Feb 2008

39750 posts

Posted on 5/26/26 at 9:37 am to jchamil

Like John Wooden always said, " Winning breeds winning ".

Posted by lsu777

Lake Charles

Member since Jan 2004

38113 posts

Posted on 5/26/26 at 9:46 am to Antonio Moss

quote:
Are you sure your parents gave you financial wisdom?

“We have the ability to eliminate a significant amount of accrued debt early in your life allowing additional capital to be invested earlier and in substantially higher amounts, but this Snipe guy thinks that isn’t financially wise and we aren’t doing you any favors …”

:rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao: :rotflmao:

Posted by Midtiger farm

Member since Nov 2014

6208 posts

Posted on 5/26/26 at 10:25 am to Salmon

quote:
My parents gave me the down payment for my first home. It wasn't a huge sum, but it certainly helped. It helped us get into a nicer home than we could have otherwise afforded. And that was it. A little bump to get me and my wife started on our lives.

And you and your kids are/will be better off receiving that now than just some money from inheritance when your parents are gone

Posted by Sun God

Member since Jul 2009

52039 posts

Posted on 5/26/26 at 11:55 am to N2cars

quote:
People that blame boomers for the financial ills of the country are very likely to vote Democrat.

quote:
They blame a generation of people for SSI who didn't even start SSI, weren't given the opportunity to end SSI, or to vote to extend social and economic welfare. SSI was started under Hoover and extended under Johnson, and even Bush's attempt to rein it in was shot down.

As usual folks like you explain things perfectly without even realizing it

Posted by Sun God

Member since Jul 2009

52039 posts

Posted on 5/26/26 at 11:59 am to Snipe

quote:
My parents gave me something much more valuable. Financial wisdom and a solid work ethic.

You’re trolling right

Posted by St Augustine

The Pauper of the Surf

Member since Mar 2006

72140 posts

Posted on 5/26/26 at 12:08 pm to Snipe

quote:
My parents gave me something much more valuable. Financial wisdom and a solid work ethic. With those two gifts I and my siblings have managed to live within our means and build stable wealth for ourselves and our families. Now my children have learned the same lessons and it's truly a blessing to see them building their lives as successful independent adults. Would love to see pictures of these first time homes for 6 and 700K...... I'm sure these parents means well but they're not really helping, long term.

She’s paying him 2200 a month in the OP. It’s not like she’s just freeloading.

There are many places in this country that young couples simply can’t buy houses on their own. If the parents want the kids hanging around in those areas I think it’s perfectly reasonable that they’re helping them out. Hell it’s way better than leaving them a pile of money when they die as they can actually build a life locally and spend time together.

This post was edited on 5/26/26 at 12:10 pm