How much will you be giving your DC for a house deposit?

[purplecrayons1]

Mine are only little, buy we live in the south east and this is worrying me already. I'll never be able to give my kids the kind of money my parents did to help me on the ladder.

Nothing. 5)36 each had £10k for university though

Probably quite a significant amount but we are well off and already have a savings account for DD (she's 5)

This is a pointless thread because it doesn't matter if you live in the SE or not. It matters how much savings you have or if you can afford to/are willing to downsize to give your children some equity or indeed if you are a homeowner yourself. I grew up in the SE in a council house, my parents had nothing to give me. I may be able to help my son a bit.

Nobody gave us any money. We did it on our own. DS and DiL managed without help and we don’t have enough money to help DD. The house prices in London are simply ridiculous.

Single people generally find it very hard to buy though and it's always been that way At least in a couple they will have double the savings or gifted money if available. Try to aim them towards good jobs too though obviously we can't all have those jobs.

£25k each (they've already had it...one bought a house, saved £10k herself) the other has invested it as not ready to buy yet.

I have no idea how much property will cost in a couple of decades. 50-100k might not be enough. My DS is only 4 but I haven't even thought about it and don't know if we'll be able to afford anything. My parents couldn't give me anything.

I am.hoping ds1 will manage it alone. He is hoping to live at home whilst he saves a deposit which we can support.

DS2 has autism and we don't know how independently he will live or whether paid employment is realistic. So I guess we will look at supported living but i am not sure he would qualify. It's a bit scary.

I grew up in london but went to uni in Manchester, where housing (used to be) much more affordable, and the wages the same in my industry (tech) regardless of where you live, so I was able to buy a nice house as a single woman without any help. Encourage them to choose their universities wisely, if they do go at all. A lot of my friends moved here from down south and never left. My sister went to brighton uni and married rich, otherwise she'd never have got on the property ladder.

We are saving £100pcm for DD but it won't be anywhere near enough if she wants to stay in the SE. So yeah, got to hope she goes for a job in the city (looking unlikely, she wants to save the planet/ be an ecologist).

It won't be for a few years yet but £20-30k each, enough for a deposit anyway. More than 1 child so £££

Nothing unless DH and I both die tragically in an accident at the same time in which case they’ll get the value of the house divided by 3. Even then 2 of them will waste it on random rubbish and only one would use it as an actual house deposit.

It really depends. By the time our children are at house buying age, our parents would be very, very elderly if they were still alive, so it is possible we may have inherited a significant amount of money by then. If we haven't inherited anything then we are aiming for around ~£100k each (we may or may not need to downsize our house to afford this, it's a long way off), but if we have/if we subsequently go on to inherit we will pass that straight on to them too.

Have focused and saved hard for my two kids. £30k in LISA and we will gift an extra £20k when they sort out a flat/house.

Same here.
My parents bought me a couple of small homeware items when I first moved out (renting) but were not able to financially contribute to house-buying. In fact, the only way I was able to buy was after their deaths, with my share of the money from the sale of the family home (split between myself and siblings) and using all my savings.

Nothing, I expect my children to save up and budget themselves. I am not sure we are doing them any favours otherwise.

We will contribute towards a bed or a large item of their choice I suspect and throw them a little welcome party.

DS will get a substantial amount. We’ll pay his school through too. DH and I have discussed and DS will probably get nothing until late 20s/early 30s. We want him to work hard, manage his money well, and learn to save and invest like we did. We’ll retire back in my home country and I’ll strongly encourage DS to come with us. No inheritance tax either.

How the other half live, eh?

No, I don't. I live further North, where it is much more doable - however, I'm not sure that is relevant. I am someone who worked in London (briefly - 2 years), realised that there was no way I could ever afford to buy down there and returned to the North to work, because I had a more realistic chance of owning my own home up there. I had parents who couldn't afford to give me or my siblings a deposit, and it was never expected that they would.

My own DC don't expect it either. It's just not realistic to expect someone else to give you money as an adult. Most folks can just about support themselves. If you can't afford a deposit/to buy then you have to move to an area where you can. Or rent somewhere.

It's not just south east, is it? Young people have been priced out of Cornwall, and the Lake District by incomers buying up second homes. Sometimes you can't afford to live where you grew up.

Do people actually start these threads with the intention of making other people feel like shit?

Honestly wasn't my intention and I'm sorry if that's what's happened. Some of these figures mentioned are totally out of reach for me too. And of course the answers are going to differ hugely depending on circumstance, location and number of kids.

I got nothing from my parents. So even £1 would feel like I'd done fine.

In reality I put aside £50 a month, every month, so for 18 and a bit years that works out at c.11k before interest. Assuming I have the good fortune and good health to continue to be able to do that.

I have my own savings too so if I can afford more when the time comes then I'll do what I can.

However, providing an adult child with a deposit or a deposit contribution isn't a necessity and many, many families can't do it.

FWIW I own my own home in an expensive area, and have done for over a decade. Who knows what the housing market will be like in 15/20/30yrs. Maybe better, maybe worse. But what I do know is that there's no point robbing Peter (me now) to pay Paul (my kids in the future). By that I mean I'm not going to scrimp on things like fixing the roof or having nice days out or family holidays or healthy food just so I can put money in their savings accounts; anything they get from me is a bonus and I don't ever want them thinking that the Bank of Mum and Dad is a dead cert.

None but she’ll get some when I die. I’ll let her make her own way and deal with her own finances re housing for a bit yet. At most, I’ll give her some for moving costs/Solicitor fees, a deposit no, she needs to save for that.

Nothing. we pay for their education and the rest they have to do themselves