Due to the rise in pricing of homes and student loan debts, many young adults are finding it difficult to purchase a home. According to a study done by Student Loan Hero, almost half of graduating students stated that they waited to buy their first home due to funds. Many parents of these children have thought about helping their child out. One of the biggest ways parents have helped is by gifting a down payment on a home. Another option has been to purchase the home themselves and then rent to their children. Lastly, parents have been buying homes and then co-living with their children.
- Two things that are rising and prevent millenials from buying houses are house prices and millenials loan debt. Parents can help their kids out.
- Many young people have postponed the idea of buying a house because they have loan debt accumulated from their college years.
- For a parent to buy a house for their adult kids isn’t as simple as buying a puppy for them when they were eight.
“Being able to help your grown kids become homeowners can really give them a leg up—particularly in this pricey housing market.”