10 Tips for Helping Your Child Buy a First Home


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The Neighborhood

You may find that your kid is either eager to buy in a transitional neighborhood that's still at the beginning of its refurbishment or is looking at a trendy neighborhood where the dollar doesn't go as far. Explain to your kids that finding the right balance is the key. If they want to buy cheap in an up-and-coming area, then check out the comps nearby and what kinds of returns home sellers are getting. If they want to be in that hip 'hood, then maybe look at a lower-cost option, like a condo or duplex. The goal is to find a neighborhood that makes sense for the long term, something your child may not be used to considering.