Parents, Is your son or daughter ready to buy a home but can’t afford this crazy market?

In this video, I will explain the 5 ways Parents can help with the financial strain.

1) Gift the money for the down payment: If there is no financial risk to yourself, then gifting the 20% or helping make up the 20% will help them save money upon closing.

2) Loan them the money: You can loan them the money with a low interest attached so that you make a little and they get the home they want.

3) Co-sign: This is usually the best option to raise their mortgage approval amount if you are established.

4) buy and rent to your son/daughter: This option can get a parent investing in real estate and also help their child get into a home. Most buy and rent scenarios have an end game where the property will pass down to the son/daughter.

5) Co-ownership: Many parents are ready to downsize. A home with an in-law suite is a great way to join forces in the housing market.

No matter what option fits your family's needs, always remember to consult with your Realtor, your Lawyer, and your Accountant.

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