10 Tips for Helping Your Child Buy a First Home


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Responsibility
If she's not ready, it could be a financial disaster.
If she's not ready, it could be a financial disaster.
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This one is actually where you should start. Many people are charmed into the idea of home ownership without really considering if it's the best move at the time. Your child may be better off renting for a few more years rather than taking on the burden of a mortgage. Ask your kids important questions like, "Are you prepared to be tied to this house for the next 30 years?" Or if they're looking to flip the house for a profit, "Are you ready to put time and money into what could be a risky investment?" If they give you blank stares in return, then renting might be the better option. These are just a couple of examples of the many questions that your child should consider before making the leap and signing on the dotted line.

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