The cost of living here in the LA area is quite high, so many millennials are having trouble saving for a down payment. Luckily, there’s a great option to get them into a home.
An increasingly popular option for millennials is for their parents to gift them the funds for a home. Instead of leaving money to their children when they pass away, they are making use of the money now so their children can purchase a house. Interest rates are low right now, so it’s a great time for parents to get their kids into a new home.
If you have any questions about this topic or any other real estate questions, please feel free to give me a call or send me an email. I’m more than happy to help!