How to Help Your Children Buy a Home

Options range from family loans to outright gifts to help your children buy a home.

family smiles surrounded by boxes and sold sign for their new home
(Image credit: Getty Images)

If you want to help your children buy a home there are a number of ways to go about it, ranging from family loans to outright gifts. Lofty home prices, rising mortgage rates and a tight inventory of homes for sale have shut many young buyers out of the housing market. In 2023, the median age of home buyers was 49, the highest on record, according to a survey from the National Association of Realtors — which means first-time buyers are delaying their purchases. The typical first-time buyer was 35, one year less than last year's all-time high. 

With that in mind, parents (and grandparents) of would-be home buyers are often interested in helping out. Their options include co-signing a mortgage, jointly owning a home, making a loan, and buying a home outright for your children or grandchildren. Each of these avenues of financial support has its own perks and pitfalls. 

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Emma Patch
Staff Writer, Kiplinger's Personal Finance

Emma Patch joined Kiplinger in 2020. She previously interned for Kiplinger's Retirement Report and before that, for a boutique investment firm in New York City. She served as editor-at-large and features editor for Middlebury College's student newspaper, The Campus. She specializes in travel, student debt and a number of other personal finance topics. Born in London, Emma grew up in Connecticut and now lives in Washington, D.C.