Tuesday, December 13, 2011 / by Nathan Clark
More Parents Helping Kids with Homeownership
More Parents Helping Kids with Homeownership
The idea of Mom and Dad helping their children purchase a home isn’t anything new, but a recent survey shows that 1 in every 5 baby boomer couples have aided their children in achieving homeownership.
According to a CNNMoney.com article, a Better Homes and Gardens real estate survey showed that 20 percent of baby boomer couples have given at least one of their children help by buying the home outright, providing the down payment or co-signing for a home loan. And another two-thirds or so expect to provide some sort of financial support to children or grandchildren for homeownership in the future.
According to the article, real estate professionals have noticed the trend nationwide, which shouldn’t be all that surprising. With affordability at a high level, and interest rates low, now is as good a time as any for the younger generation to join the homeowner ranks.
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The idea of Mom and Dad helping their children purchase a home isn’t anything new, but a recent survey shows that 1 in every 5 baby boomer couples have aided their children in achieving homeownership.
According to a CNNMoney.com article, a Better Homes and Gardens real estate survey showed that 20 percent of baby boomer couples have given at least one of their children help by buying the home outright, providing the down payment or co-signing for a home loan. And another two-thirds or so expect to provide some sort of financial support to children or grandchildren for homeownership in the future.
According to the article, real estate professionals have noticed the trend nationwide, which shouldn’t be all that surprising. With affordability at a high level, and interest rates low, now is as good a time as any for the younger generation to join the homeowner ranks.
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