Parents will to buy with offspring

My 2c.

I don't necessarliy buy into the argument of 'dead money', you are getting something in return, it might not be yours to keep, but it is something tangible. You don't have to worry about things like broken washing machines, burst pipes and management charges if you are renting. Buying a home gets you much more than just a roof over your head!

BTW, I currently own my own place, I rented for around 8 years, and I don't have any property investments, so have no vested interest in advocating renting vs. buying.

Given the fact that both your daughter and her partner earn less than €92,000, maybe the is a viable option over you actually buying the house? While waiting for approval, they could rent in the meantime (they should be able to get a place for less than €1200 per month if they 'shop around') to see if they want to make it a long term arrangment).

Of course, if you want to go ahead and buy them the house (given all the tax and other implications outlined above) and your daughter and her partner are happy to accept this arrangment, then fair play and all the best.

Have you considered going guarantor for the mortgage. Maybe a visit to a mortgage broker to get all you options outlined would be helpful. The mortgage broker would also be able to give an estimation of what your daughter and partner could borrow.

Hi All,

Thanks for all the advice - and debate. Just to address one or two things. I don't believe that we are trying to lead my daughter's life for her by offering to help with accommodation. If we can afford to help and are doing everything legally, then what's the matter with that?
I do believe buying is a better option than renting. At present she is being ask for 1200 a month for a one bed apt in the centre of Dublin and I honestly believe that would be better covering a mortgage.
We don't want to buy the property for her - absolutely not. We just want to help by providing some funds towards the deposit and as several of you have suggested, perhaps go guarantor. I think that is the best option now having read through all the replies.


By the way Clubman, you couldn't be further off the mark with your "mammies and daddies" comment. My daughter has worked while studying every summer/easter/christmas since she was only 15yrs old.(as have my other children). I always encourage this as I believe it teaches the value of money when you have to earn it rather than have it handed to you. She has learnt to save regularly but at the same time enjoy her young life. She is very independent and has never looked for handouts from us. I haven't even discuss this matter with her yet and in all probability she will not want us to put any money into this but I'd like to offer anyway.

Thanks again to everyone - some really good advice.

glueless said:

. At present she is being ask for 1200 a month for a one bed apt in the centre of Dublin

Click to expand...

The average price for renting a 1 bed apartment in Dublin is €891. Min is €799 in Dublin 9 and max is €1010 in D4 & D18.
This is far from the €1200 you are quoting. €1200 is the high end price for a 2 bed apartment.
She should really shop around.