re: Parents Buying Kids Homes

It is an investment. Plain and simple.

Best thing my parents gave me (other than good upbringing) is they are in a good position retirement wise. I dont have to worry about them making ends meet and can focus on building generational wealth. Had they stretched to give me more I might not have had the same drive (mixed with the motivation of fearing failure without a safety net.) But mlre importantly, they wouldnt be in a stable retirement scenario and I'd probably have made more conservative decisions past 5+ years just in case I needed to provide for them financially in old age.

Instead, I semi-retired at 45 to focus on my family and health/wellbeing despite no financial assistance as an adult.

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What exactly did we do?

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We worked, saved money, and bought a home apparently

I think it’s great to help with the caveat the child is productive and not leaning on parents for support. I’d do the same. While I can’t buy my kids homes (they bought their own), I enjoy giving what I can to bring joy to them or even for them to save. My parents have plenty of means, but went the route of “we earned it, you earn it.” Never did anything much for us. And what they leave behind will likely go to their favorite charities. I don’t care, but I won’t be that parent. I love my children.

Give a man a fish vs teach a man to fish? Sorry, I could never be beholden to my parents.

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Honestly, we don't need this house anymore, but it would be more expensive to downsize.

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Not shocking.... again we bought a small place that was alrwsyd nice and new but builders grade but put some equity into thinking we could leverage that into out next bigger grander place..... thats not happening. Even selling this place for a big profit given what the new value is would be setting money on fire.

frick every part of this...I am at least thankful we were able to get a place we love before shite got stupid

I did not have any help from my parents on anything. TBF, we were a large family living on a teacher’s salary (no idea how we made it, but we did). My mother was a SAHM until she was 51, got her teaching degree at 52 (she did work some part time and did some other things as we got older, so we were latchkey kids too).

My brother got help from his FIL, and they have a 4,200 Sq ft house. I do not have any issues with parents helping their kids. But I know that a down payment on a house is huge.

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If I had $millions of dollars in disposable income I would definitely buy my kids their first home

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And I don't think that most of us in this thread have that, including me. Would you help your kids as a much as you could as long as it wasn't detrimental to your personal finances?

I think that's where most of us end up, and my answer is yes, as long as they are trying to become independent.

I live in very West Ga where a $500k house on an acre would be $1m or more in the more expensive Atlanta metro areas. Only 80 lots in my S/D and two of the last remaining wooded lots were across the street from me.

Within the last year, two 21-24 years old recently married couples from local well-to-do families had large, custom-built houses built and paid for by their parents. The one that just got moved in sits on 1 acre and is probably the nicest in the already very nice S/D. Could probably sell it for $800k. Would be $1.5m on a 1/4 acre in East Cobb.

I know these youngsters and actually coached both boys in middle school football 9 years ago. Good people and well mannered. Know their parents. But damn talk about silver spoon.
Good thing is it will elevate my home value and I have good neighbors that I know are good people.

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That’s awesome. Isn’t the goal for each generation to be able to provide your kids a little better than your parents did for you? So each generation grows.

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The goal is to set them up to be more successful than you not to keep providing for them.

The problem with this mentality is the kids will never grow up and become independent. They will never learn how to struggle or build something from nothing. They will never know what its like to do without.

Likewise the kids will never realize the confidence and growth that is gained through adversity or achieving financial help without their parents' help.