Would you buy your child a house if you could?

[NoCat]

What the title says I guess.

Our eldest is starting is starting uni after the summer and dh and have been talking (not with him yet) about buying his first house for him after he finishes uni.

Things to consider in our situation are - we have enough to do the same for his siblings and we live in Scotland so we haven't paid tuition feed for uni for him and house prices are (I believe) in general cheaper than in England.

[Millylovespuddles]

This is something we are thinking seriously about. Our solicitor said we should have a legal clause in place to protect the asset though - his examples being if he should get into debt (doesn't have a drink/drugs or gambling problem ... but how can you say it can't ever happen?) or if he got divorced and the ex gets half. He said by being first charge in a default situation will save a lot of possible heartache down the road.

[Mydogisagentleman]

Probably not. Me and DH made our wills last year. Our daughter is an only child but she is incapable, or so it seems, of managing money or expectations. She has a personality disorder
We have set up a trust for her which means she will receive an income )currently set at £1000 a month).
We are in the very fortunate position of owning our house outright and having 3 rental properties.
If she were left the houses, she would sell them and buy a helicopter.
This arrangement is to be reviewed every 2 years.

[Strawberry33]

My grandparents and parents/ aunts decided to bypass inheritance of my parents and have it go straight to the grandkids instead. I bought a house mortgage free. I’m so greatfull and it’s been an amazing gift 💝 I have the most wonderful family and now me and my cousins can do what we want in life rather than be stuck in something just to pay for accommodation xxx

[Bojangles33]

When he finishes uni I mean. Too many wines...

[Bojangles33]

Why not buy a house where he'll be at uni and let the other room(s). Then when he moves he can either stay there or sell and use the deposit elsewhere? That way you can say it's an investment for you and DH rather than for him, if needs be

[PippilottaLongstocking]

Yes, but only if I could afford to do it for each of my children equally. I’d love to be able to provide them (and their possible future families) with that level of security.

[Pretendingtobe]

I'd love to.
Have 7 bedrooms, and can just about manage mortgage.
The plan is to downsize later, to give them all deposits.

[tinstar]

Not when he finishes university, no. The time between university and settling down with someone/having kids etc, is his only chance to travel, apply for jobs in other parts of the country etc.

I would do it once he was settled somewhere.

[Rebecca36]

Yes I definitely would and think most parents would if they could afford it. Or else make a hefty contribution towards him buying a house.
You are nice parents!

[Cocoamamma]

Absolutely. In a heart beat.

If you can do that for your children they are very lucky.

[Benandhollysmum]

yes I would but they’d have to be responsible to pay the bills though and can’t rely on me or their dad as if we were banks. But that won’t happen tho as we are to poor.. but their grandparents have left their dad a house in their will but we won’t move back to the area so my kids will probably live in it

[PlausibleSuit]

Will it tie him to the area at the exact point in time he'll want to be spreading his wings, though? What would he want? What if he finishes university and wants to go and work in London or America or Borneo?

[Shmithecat]

I'd give a sizeable deposit at the very least. I honestly don't understand parents that wouldn't if they could.

[IRefuseToAgree]

No, not at that age. It would undermine their own achievements & might be demotivating

It depends on the child but I think it often as not it motivates people to work hard.

[LolitaLempicka]

No, not outright.
How much will you spend per house? Would it not be better to gift them a deposit?

[PugwallsSummer]

I'd do it but charge him a smallish "mortgage" payment each month that could be put away into a savings account. This will encourage him to budget appropriately and also build him up a some savings that may come in useful one day.

[Grasslands]

Yes, but like other parents keep it in your name. It reduces gold diggers and if the relationship fails the house isn’t in his/her name (marital asset to be split).

[lunatunes]

God yes! I would love to be in the position where I could do this for my kids in the future.

[clumsyduck]

If I could afford it , at an age when they are ready ( ie can afford the bills , and would be thinking of buying a house regardless ) then yes , in a heartbeat .

Well, as Long as it doesn't mean I can't get my retirement villa in Spain

[IronMansIronButt]

No. I would worry it would dent their ambition and their abilities to look after themselves properly. If I had the money I would invest it for them all so they had a deposit and some cash when they were in a position to buy for themselves.

[summerlovingliz]

Yes definitely.. what an amazing thing to be able to do for them

[AnnabelleLecter]

Yes.
We'll definitely be helping with a deposit then we'll pay the odd chunk off here and there plus other bits and bobs.

[Prestonsflowers]

Yes, we did.
Son and daughter in law bought their first house together. After 2 years we were in a position to buy them a house outright, so we did.

[RubyJack]

Yes