With the soaring price of properties, many parents want to help their children with their first home as the ‘bank of mum and dad’, but it’s important to plan out how exactly the support will work. If you are looking at supporting your child’s first home, here are three things that you should consider and discuss with your child:
While helping your child is generous, treating the arrangement with legal and financial care ensures that your support is both meaningful and protected.
For more information on supporting your child’s first home, reach out to McNamara Law today on 1300 285 888.
Unit 10
88 Limestone St
Ipswich 4305
Queensland
Ph: 07 3816 9555
GE Building,
Level 1, 6 Yoga Way
Springfield Central 4300
Queensland
Ph: 07 3470 3600
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