How much do you plan to give DC for house deposit?

[Notmycircusnotmyotter]

As the title says. If you're able, how much do you plan to give your children to help them buy a house when the time comes?

I'm in the SE so really you need £50k min. I think. Trying to plan ahead.

we are saving for uni & house deposit as uni costs are now £££ & they won’t be cheaper in 10 yrs time. Any inheritance will help them onto the ladder & happy to have them living at home to save.

Nothing.

I rent, can't even afford my own deposit 😅

My eldest DC can save £40 K in savings as she can live at home for her degree and then we will double it. So £80 K in total - she will be a vet when her degree is finished. So she should be able to buy at that point.

Husband’s son has saved £30 K by living at home rent free post uni but we have a 12 month deadline for him buying - he will have £40 K saved and we will gift him £40 K and I’m going to go on his mortgage with him to increase his capacity.

Youngest DC - will save from student loans like D and gift him £40 K so each child with have been allowed to safe and gifted about 80K or more each.

Well yes, money for house deposits is often more useful and beneficial than private school if it’s a choice between the two. Private education isn’t the leg up it once was.

Nothing. They have their own deposits by the time they are 25 (resourceful teenagers that save & meant they earned 4-5 x the rate at McDonalds), and will likely get a little from grandparents anyway.

edited to add they'll likely inherit in due course from us as we're on the older side for parents and likely we may need the ££ who knows what we'll have to pay for at current rate of government expenditure, can see us having to fund operations or cancer treatment.

We haven't been able to save much ourselves as we bought only recently but will save what we can to help them. They can live rent free at home and any inheritance we receive we will give the majority of to them. I had no help so conscious of trying to do what I can as the struggle was significant for us (only can imagine it's going to get worse)

50K each that’s after university fees and also wedding. We are lucky to be in a good financial position.
DH and I from very working class backgrounds and never had any financial support or inheritances. It will all go to them anyway so we will give as much of it as possible now.

I paid roughly £40,000 for their accommodation when they both did masters at uni. I will give them both £50,000 each and they have both lived at home for a couple of years to save. I got absolutely nothing and neither did DH but property was much, much cheaper when we bought.

None. Both my DC earn more than me and DH😅
One already has a six figure deposit saved. Other dc well on they're way too.

I gave DC1 70k and I’ve saved 50k so far for my two younger DC.
It has been interesting with my friends, when their DC were a bit younger lots mentioned helping them in fairly big ways such as giving a large lump sum or downsizing and giving them money that way. However so far little help has actually materialised.

DC both bought houses last year and were given £30k each as deposit. DD (22) has bought on her own but we're in a cheap area whereas DS (25) is in SE and his fiancée also had a deposit.

DS has also had £10k towards his wedding in May and a £10k early wedding gift to do some necessary work on the house. DD will get the same when the time comes. This all came from our savings and a small pension drawdown.

We also paid rent at university for them both which came from our income at the time.

We'd rather see them benefit from 'early inheritance' now when it's of most use to them than later.

We funded a Help to Buy account for DS to the tune of £12,000 which then gave him a further £3,000 from the Government.
He also lived rent free at home after Uni so he could save further. He's recently bought his 1st house on his own, which is a habitable project. We have agreed to fund a new heating system as the boiler is very old - although he didn't ask us to. DH and I have discussed funding necessary improvements up to £10k (heating, some of the double glazing is blown, and some artex removal due to possible asbestos) but he'll then have to fund kitchen/bathroom improvements himself. So max £22k contribution from us.

They will inherit our homes and everything else IHT free due to the laws of of the country we emigrated to. A far cry from the big fat 0 DH and I got. But happy to give the kids options.

They remind us regularly that they’ll make major changes to our homes when we die. It no longer stings but I still can’t laugh at the jokes!

Depends on how expensive uni will be. Ask me in 4 years.

DD will only get the minimum loan and we said we will top up, pay her accomodation and also fund a year or semester abroad. She has SN which will impact working while at uni so her chances to fund herself are slim.

We have funds available and they most likely will grow as we are able to fund her with the money we have free as our mortgage is repaid when uni starts.

I will also add any inheritance I will get from my mum (paybe £8-10k) and I think DH will add some he may receive from his parents. That's obviously all subject to money left over if no care home eats it all up.

Granted and I didn't go to private school myself. They are in private school to support SEND as the local provision is non-existent and they are bright and able, just need the right support so while it isn't a "leg up" in the old boys network/access to Oxbridge type and I wouldn't pay for that bollocks anyway; it will be the difference between leaving school with below average outcomes and limiting their opportunities permanently. So I [mostly] don't begrudge it but there won't be a hefty deposit either, especially if we have to fund uni living costs too assuming they go.

Currently planning to gift both DC 100k which will I am hoping will enable them to put 50% down on a two bed flat or small starter home depending on where they look.
We will be downsizing our own home to free this money up although we could do it from savings.

If you don't mind me asking, what jobs do they do? DS starting to think of career options so I'm always interested to hear about DC who have been successful.

£50k each + I have a trust inheritance which I will not take myself and pass directly to DC. Anyone that has given towards house deposit and DC have bought with a partner, have you protected your contribution?

DS had an apprenticeship and started saving immediately. We never charged rent, his GF moved in 3 years ago and we then charged £100 a month.
It allowed them to save £60k plus we gave them £5k so they’ve just bought their own home. Both aged 24.
We’ve not been able to give them lots of money but living with us almost free has enabled them so much.

I will give my daughter the two flats I own so she can use that to buy something outright. I don't want her to be in debt if at all possible.

We've contributed to the CTF which DS can now have access to. We also contribute to a pension for him.

If I inherit I'll pass a significant amount onto him as that's what my mum wants me to do and we have nearly paid off our mortgage, plus he can stay here cheaply and therefore save.

I gave eldest DS £10k for deposit and paid solicitors fees and paid for him to do training for a better job costing over £3.5k, DD a car and helped her pay 3 years of nursery fees and younger DS who earns less than his older siblings £55k because he bought a house near to where I live and prices are much higher than where eldest son lives. I did talk to both his older sister and brother to check they'd be ok with it first and younger DS has been told it will be evened up in our will. I also do gifting so they get £1k each per year too. I also help out if a roof needs repair or a car engine blows up. Plus any of them can have an interest free loan until they can afford to repay it providing it's something they need.

Zero. They can buy their own or rent.

I can't give my children anything. My eldest knew this and chose a high paying career. He earns significantly more than me and can save his own deposit. Youngest is still a student but he will have to plan accordingly if he wants to buy a house.

We'll match what they save, this may bite me on the bum if they manage to somehow become millionaires though 😆

In all seriousness though, probably 50% of their deposit and will buy some appliances or large furniture items if needs be.