How Your Home Equity Could Help Your Kids Buy Their First Home

How Your Home Equity Could Help Your Kids Become Homeowners

If you’re a homeowner, chances are you’ve built some serious equity over the years—just by living in your home and letting its value grow. And that equity? It could be the key to unlocking homeownership for your children.

With housing affordability still a hurdle, many first-time buyers—despite having good jobs and solid savings—are finding it tough to break into the market. But that’s where your position as a current homeowner can make a real difference.

What the Numbers Say

According to Cotality (formerly CoreLogic), the average homeowner with a mortgage now has about $311,000 in equity. That’s a big number. And some parents are choosing to tap into a portion of that equity to help their kids with a down payment or closing costs.

Bank of America reports that 49% of buyers aged 18–26 received financial help from their parents when buying their first home. While it’s not clear how much of that support came directly from home equity, the reality is that years of homeownership have helped many families create the kind of wealth that opens doors for the next generation.

It’s About More Than Money

Sure, this is a financial decision. But it’s also an emotional one. For many parents, it’s about giving their kids a head start they may not have had themselves. It’s about being able to say, “I helped them get the keys to their first home.”

In fact, according to Compare the Market, 45% of first-time buyers who received help from family said they wouldn’t have been able to buy without it.

That’s powerful.

Bottom Line

You’ve worked hard to build what you have—and that equity might be able to help your kids take their first step toward building a future of their own.

If helping your child buy a home feels out of reach, you may be closer than you think. Talk with your lender, your financial advisor, and of course, your local real estate expert (that’s me!) to explore the options.

And for more tips and resources for buyers and families, visit buywithamber.pillarrealestate.com. I’d love to help you explore how to use what you’ve built to build something even bigger—for the next generation.