LET’S LOOK AT THE BENEFITS OF BUYING A HOME WITH ANOTHER FAMILY MEMBER. THERE ARE LOTS OF REASONS, AND LOTS OF BENEFITS. AND WHEN YOU THINK ABOUT SHARING THE PURCHASE OF A HOME WITH A FAMILY MEMBER, ALWAYS REMEMBER THAT WE’RE HERE TO ANSWER EVERY QUESTION YOU MIGHT HAVE.
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Dad and mom can HELP with financing at a time when their children have the most opportunity, and often the least resources.
Dad and mom can benefit greatly from treating the purchase as an investment with their children, thus taking advantage of depreciation and other investment tax strategies.
Dad and mom can help keep their children in the city or state close to them, particularly in areas where the cost of buying a home is high.
Children can concentrate on their family lives, and working hard to earn a living wage, without having to suffer because they don’t have a large down payment.
Children can benefit from all the tax advantages of home ownership, including interest deductions, property tax deductions, and the building of their credit history.
Children can often live in an environment that is safe and secure, and in an area with which they are familiar.
Children will benefit from having the responsibility of home ownership shared by their parents, which is a benefit to both.