Baby Boomers Helping Their Children With The American Dream

Baby Boomers Helping Their Children With The American Dream

Larry and Sheila, Realtors with Charles Rutenberg Realty are experiencing something here on Long Island that may be happening throughout the country.

Some Baby Boomer's are now willing to provide financial support and are helping their children or grandchildren buy their first home or condo.

They know that times are tough, and they want to make sure their family does not miss out on the opportunity to fulfill their dreams of home ownership.

Whether it's the help with a down payment, giving money towards the purchase or buying it outright for them, the trend seems to be ongoing.

Currently Larry and Sheila are working with a young school teacher whose parents are giving her the down payment for a co-op. We are also working with a couple who lost their jobs and are relocating back to Long Island and with the help of their parents, are buying a small house. Another first-time home buyer is moving from his parent's home. They are buying him a condo so he can finally be on his own. (Wonder whose benefiting more from this one!)

According to a survey from Better Homes and Gardens Real Estate, "one in five baby boomer couples have already given at least one of their children the means to purchase a home, either buying it outright, furnishing the down payment or co-signing the loan".

Of course, this isn't the case for everyone. Times are tough and Baby Boomers are having difficult times also. However, we are seeing a nice segment who are able to help their children with the American Dream.

We are hearing from the Baby Boomer parents that they feel they are in a better position to buy a home for their children and feel that home ownership is still one of the best investments you can make ~ and who knows, these Baby Boomers may be looking to their families for assistance someday also!

The importance of owning a home goes much further than the economy as it is still all about supporting the American Dream.

So whether you're a Baby Boomer, First Time Home Buyer or Seller, Thinking About Selling Or Buying A Home On The North Shore Of Long Island...Do Contact Larry And Sheila At 631-805-4400

If you would like to purchase a home for your children on Long Island, or sell the one you are currently living in, please contact LARRY AND SHEILA to help you with your Real Estate goals at 631-805-4400.

http://www.suffolkexperts.com

Email: sheila@suffolkexperts.com