Yerkes Upstate SC Blog

Three Ways to Help Children Buy Homes

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.

Ref: RealtyTimes

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