Comments on: If You Had the Money Would You Buy Your Child a House?

By: Amy B

Amy B — Sun, 21 Apr 2013 04:03:17 +0000

Absolutely. If I had enough to retire on comfortably and no concerns of dependency on my child should a health challenge occur, then I would happily be gift a house to my adult child. Why not? A mortgage limits a family’s life greatly.
If I’d been fortunate and was set, I would give the gift of mortgage freedom willingly to my child. You can’t take it with you. Additionally, if my parents could leave me an inheritance or give me a free house, both equal, I’d take the free house. Inheritances many times come much later in life when they are less needed.

By: One Frugal Girl

One Frugal Girl — Thu, 28 Mar 2013 16:21:47 +0000

In reply to Newlyweds on a Budget. I have heard of this as well. You skip a generation and hand the money over to the next generation. It's an interesting idea.

By: One Frugal Girl

One Frugal Girl — Thu, 28 Mar 2013 16:21:00 +0000

In reply to Michelle. That's what I've seen as well. I'm sure there are exceptions to these rules, but I have never met anyone that is good with money and received sizable gifts from parents.

By: Newlyweds on a Budget

Newlyweds on a Budget — Mon, 25 Mar 2013 16:32:41 +0000

I friend of my brother’s had a grandfather that was a multi-millionare. This multi-millionaire decided to put his money into a trust fund and divide it up among his grandchildren rather than the children. They will receive the monet when they turn 18. I thought this was a great way to make sure that the family is secure but that there is no bickering among children regarding who gets what, and the kids are set for college.

By: Michelle

Michelle — Mon, 25 Mar 2013 13:55:07 +0000

I know of some people who had their houses and other things paid for. I would honestly say that most of these people have no concept of money and it’s just a revolving door with them asking their parents for money. It almost always sets kids up for a disaster!