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Sons being given more house deposit than daughters

30 replies

worryworrysuperscurry · 01/09/2024 08:17

www.zoopla.co.uk/discover/property-news/parents-give-gbp13k-more-to-sons-buying-first-home/

I read this article and was staggered that apparently sons tend to be given more in terms of house deposit than daughters. I'm struggling to think why this should be, I have always been of the opinion that each child gets the same amount in situations such as this.

I was also surprised to read that the average contribution is £58k. We feel fortunate to be in a position to help out with house deposits, but are thinking more along the lines of £25k as a top up to what DC have saved themselves rather than paying for the deposit outright. After reading this piece I feel like I'm living in a parallel universe to one where parents can pay so much towards deposits!

OP posts:
lljkk · 01/09/2024 09:47

We gave about £27k to our son to boost his deposit, & intend to give nothing to the daughter to help her buy.

REASON: daughter has benefited to total amount of about £54k (so far and rising) on her education and training (!). Son stopped school at GCSEs so had none of that. He is on course to earn more than me within 4 months. There's only 2 years age difference betwn daughter & son, btw.

I also want to point out that £58k seems to be average not median. That number is skewed by a small number of buyers who get huge amounts from family. My guess is that among 1st.time.buyers, 50% had < £2000 of family donation to help them buy a house. ? 80% had < £10k. Obviously, a large chunk of people never buy at all in their lifetimes.

worryworrysuperscurry · 01/09/2024 10:21

@plasticmack Yes I can see this would be a thing. I live in a region with a good sized South Asian population, and it's very much the thing for adult children to live at home before marriage too. This is changing a bit, with people moving away to work, but the living at home, coupled with the fact that it generally isn't the done thing to charge adult children rent means that it's likely that the children will have more savings.

OP posts:
Ariela · 01/09/2024 17:11

Must be something in the water round here (south east) as both eldest and her friend (almost 26) have house deposit amounts saved up (they don't drink don't smoke, don't spend on expensive holidays / go abroad). Her friend as just put an offer on a small 2 bed terrace in the next town over where she works, she's on a good salary so can afford a solo mortgage.
Yet their other friend from school hasn't found a job since graduating, has an allowance from parents and a credit card and is permanently overdrawn, out or away on holidays all the time.

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worryworrysuperscurry · 01/09/2024 19:43

@Ariela Their friend's parents really aren't doing them any favours!

OP posts:
Frazzled2108 · 01/09/2024 20:03

It's like a different world to me hearing parents gift any amount of deposit. Let kids make their own way in life. Mine will have to save for it.

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