Here are three suggested ways that parents can help their children buy homes:
1. Giving adults children cash for a down payment. It is important to plan ahead as there are important tax considerations that you have to consider.
2. Co-signing a note. This requires children who are mature, disciplined and responsible to make timely payments to avoid payments penalties and damagin the co-signer's credit.
3. Giving the gift of knowledge. Instead of giving money, educate and train your children to understand finances and how to plan, evaluate investment purchases and make reasoned decisions.
Yerkes Upstate Real Estate Services
RESIDENTIAL, INVESTMENT, COMMERCIAL
LAND, FARM, PROPERTY MANAGEMENT
Global Relocation and Referral Services
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Providing friendly dedicated service - customized to your needs.
Using state-of-the-art methods to find the right property for you
and/or sell your property at the best possible price.
Direct Phone: 864-209-1864