Helping your first-time buyer become a homeowner can be an act of investment in their future and a valuable support in this important stage of their life. Here are five detailed ways to do it:

Financial Advice and Education: Offering financial advice is an essential first step. Educating your child on money management, including budgeting, saving for a down payment, and understanding the costs associated with buying a home, can be extremely beneficial. You can share your own personal finance experiences and knowledge to help them make informed decisions.

Direct Financial Assistance: If you are able to do so, providing direct financial assistance in the form of a gift or loan can greatly facilitate the process of buying a home for your child. This assistance may be intended to provide a down payment or to cover other upfront costs associated with the purchase of a property. You may also want to consider contributing to closing costs or renovations, as needed.

Co-Signing or Guarantee: If your child is struggling to get a mortgage due to low income or poor credit score, you may want to consider co-signing the loan or acting as a guarantor. This means that you agree to repay the loan if your child is unable to do so. This option can increase the chances of approval and allow your child to get a better interest rate.

Property Search Assistance: You can help your child with their property search by providing advice and resources to find the home that fits their needs and budget. This can include finding safe and affordable neighborhoods, comparing property prices, and accompanying you during property viewings. You can also help them evaluate the pros and cons of each option and negotiate the purchase price.

Emotional and Moral Support: Finally, offering emotional support throughout the buying process can be extremely beneficial for your child. Buying a home can be a stressful and emotionally charged experience, and your support and encouragement can play an important role in helping them navigate the challenges and obstacles they face on the path to homeownership. Be there to listen to their concerns, reassure them, and congratulate them on every step they take.


By combining these different forms of financial, emotional and practical support, you can play a crucial role in helping your first-time buyer child achieve their dream of homeownership, whether it's buying a furnished house or apartment, or investing in furnished rentals. This support can not only help make the property buying process easier and more accessible, but it can also strengthen your relationship with your child and give them a solid start in their adult life.