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How to Help Your Children Buy a Home

If you want to help your children buy a home there are a number of ways to go about it, ranging from family loans to outright gifts. Lofty home prices, rising mortgage rates and a tight inventory of homes for sale have shut many young buyers out of the housing market. In 2022, the median age of home buyers was 53, the highest on record, according to a survey from the National Association of Realtors — which means first-time buyers are delaying their purchases. The typical first-time buyer was 36, also an all-time high.

With that in mind, parents (and grandparents) of would-be home buyers are often interested in helping out. Their options include co-signing a mortgage, jointly owning a home, making a loan, and buying a home outright for your children or grandchildren. Each of these avenues of financial support has its own perks and pitfalls.

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