Find out how Gransnetters helped their DC get on the property ladder

We haven't been able to help our two daughters who both rent. However, they will inherit a sizeable house when we both pop our clogs so they can sell up and both have enough to get on the property ladder then. I think we would have thought about releasing equity or whatever, but youngsters today don't seem to be able to save. They want it, and they want it now. They all seem to live on credit cards now. I think that when we all got a brown envelope at the end of the working week with cash in it, we were better able to manage our finances. You could pay your rent, do your weekly shop, put money in the electric and gas meter, go to the launderette, put money by for fares to work and anything you had left over could be spent on clothes, going out or put by for a rainy day? What do other GN's think?

I was in the happy position of being able to help. My 17-year-old daughter had emigrated to another country and married. When her first child was born and I was visiting, house prices in their local area were, compared with the UK, ridiculously low. They have since soared. So I bought her a house outright and gave it to her on her twenty-first birthday. She has upgraded several times since then and also had some more help with mortgage payments and other loans since then when times were a bit tough.

I never looked for payback but helping my daughter, son-in-law and family of six children rather reduced the sum that I had intended for my old age. We emigrated and, although I own properties in the UK, I did not have enough available money to buy a house in New Zealand. The rents from the UK properties are the equivalent of a pension – I was self-employed and that's how I worked a functional life.

We rented a quite expensive but not awfully comfortable or practical house for six years. Then absentdaughter and her husband decided to change things as they could see that I was becoming distressed and depressed with the horrible kitchen and the garden I could never finish weeding. They bought me a house. They were not in the same financial position I was when I bought a house for her, but all I have to do is pay more or less the same rent as I was for a not particularly lovely house for something rather lovelier, more practical, comfortable, more modern and easier to manage to help with their mortgage.

What goes round, comes round.

I'm not in a financial position to help them

My father passed away a few years ago and left a legacy for myself,my husband and his grandson.We put all the money together and started looking for a building plot here on the island of Fuerteventura where we live.We looked at many plots but all were too expensive.On our travels around the island, we came across a half built property which was in a state of disrepair.We asked around to find out who the owner was and discovered that it belonged to a builder who was unable to finish the build due to his untimely death whilst surfing.
To cut a long story short, we bought the unfinished house and set about renovating it which took a year to do.
My husband and I were happy to give our son our part of the legacy as we felt that it was best used at the present time rather than waiting till we had passed on.
The finished product turned out well and we are all pleased that the money from my father was put to good use.Without his money, our son would never have been able to get on the property ladder.He is very grateful how it all turned out and we are pleased that we could help financially.

We would never have been able to purchase our first house without a loan from my husband's parents. Knowing this, we want to be able to offer our son the same opportunity when he is ready to buy his own home.
We live in a time now where most young people just aren't in a position to be able to save for a loan for the deposit - unless they are earning a high wage & have little essential expenditure.
Owning your own property is a great investment for your future & security for yourself & your family.

I bought my first home in my 30's without any financial help but I have given money to daughter to help with a deposit for buying a flat

I did not have enough finds to help my daughter buy her first home but I did use all my savings (what was left after funding her uni degree without a grant support) to carpet, buy curtains, get windows fixed, and general sundries like lampshades etc. Her dad paid the deposit for the new home (we are divorced - he took everything in the settlement, house , business etc so was minted) but once she moved in, he asked for monthly repayments to pay him back the deposit money.

Unfortunately I'm not in a financial position to help my children on the property ladder. I've helped them in other ways like buying furniture and decorating. NY children know if I had the money I would buy them a mansion each.

My eldest son left home to start his career in a different part of the country. His fiancée (now his wife) also left her family home, to move with him. They initially intended to rent a property but found a new-build estate offering a 5% deposit incentive to first-time buyers. They had some savings but not enough for the deposit, so we offered to give them the £5,000 they needed to add to their savings, to make up the deposit. They refused at first, as they decided to try to save the additional money themselves, but we eventually persuaded them to take the money as an advance wedding gift. They are still living in the same house, which they’ve made into a very welcoming home, and have since married and had two lovely children. We’re happy that we were able to help them to start their new life together.

We gave our daughter some money after she graduated to use as she wished, she’s planning on adding to it and using as a deposit for a house in a few years

My boys are too young to get on the property ladder! One is 15 and the other is 10.. but when the time comes I’d like to think that I could give them a helping hand to get on the ladder, I don’t own my property I live in now but some day when I’m rich I’ll buy me a mansion!!