How to Help Your Kid Buy a Home—Without Triggering Taxes or Tension
So your kid wants to buy a home, and you're thinking about stepping in to help. Good news: you’re not alone. Bad news: doing it wrong can trigger taxes, tension, or both. Today’s first-time buyers are facing a combo of sky-high prices and interest rates that just won’t quit. The typical down payment climbed to $63,000 in 2024, and mortgage payments are at near-record highs. According to a Redfin survey , almost a quarter of Gen Z and Millennial buyers recently used family money to make it happen, either as a cash gift or inheritance. And while the term “nepo-homebuyer” might get thrown around, let’s be real: giving your kids a leg up in this market isn’t favoritism, it’s financial strategy. The trick is doing it right. Even the most generous moves can backfire if you don’t plan ahead. I've seen it all: families caught off guard by taxes, relationships strained by miscommunication, and properties stuck in probate for months. Let’s make sure that’s not you. Here are the 3 best ...