The bank of Mum and Dad: the best way to save for a home

Bank of mum and Dad helping to save for a home

To the baby boomers and generations before us, as soon as a child moves out of their family home they are expected to save for a home of their own. However, is this really practical in today’s day and age?

To still be a thirty-year-old and still living in their parents home, is greatly frowned upon. Many people would assume that the individual was dragging their heels and avoiding getting on with adulthood. However, the Irish Times presents us with experiences of thirty-something-year-olds who reason that moving back to their parents home has helped them save for their first property.

With the rising rent and property prices in Ireland, this has driven people to rethink. For many, this alternative has proven to be the only affordable living solution and way that will lead them to gain a foot in the property market.

Stories from Kate McEvoy and Lorraine Carthy highlight similar journies of moving back into their family home to save for a home of their own.

Read the full article by clicking the link below.

Credit: Tanya Sweeney

Source: www.irishtimes.com

 

 

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