Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Parents assisting children with first house

jtfrogger · 01-04-2014, 02:13 PM

I bought my first house shortly after graduating university in Winnipeg. It was a tiny little house (<700 sq ft and only half a basement), and I believe the downpayment was just shy of $3000. I paid about $55k for the house. My parents and all of my siblings (all significantly older and established) chipped in to buy me a BBQ as a house warming gift. My parents could not have afforded giving me much without sacrificing, which was not necessary.

I bought my first car with a loan from my parents. But it was of mutual benefit. I paid more interest then they were making with the bank, and less than I would have paid with a bank.

01-04-2014, 02:13 PM	#57
jtfrogger Powerplay Quarterback Join Date: Jun 2008 Location: Calgary, AB Exp:	I bought my first house shortly after graduating university in Winnipeg. It was a tiny little house (<700 sq ft and only half a basement), and I believe the downpayment was just shy of $3000. I paid about $55k for the house. My parents and all of my siblings (all significantly older and established) chipped in to buy me a BBQ as a house warming gift. My parents could not have afforded giving me much without sacrificing, which was not necessary. I bought my first car with a loan from my parents. But it was of mutual benefit. I paid more interest then they were making with the bank, and less than I would have paid with a bank.