When Parents Help One Child Buy a Home—What Happens to Siblings?
Summary
A study from Australia shows that parents often want to treat their children equally when helping them buy their first home. Parents are more likely to help one child if they have helped or plan to help the sibling, and factors like need and closeness to the parent also affect support.Key Facts
- The study used data from 3,039 Australian parents about 5,895 children, focusing on families with two children.
- About 79% of children who had not yet bought a home were expected to get some help from their parents.
- Help included living rent-free (46%), financial gifts (44%), or parents acting as guarantors (26%).
- If a sibling bought a home without parental help, the other child was much less likely to receive support.
- Parents are motivated to treat their children equally to keep family harmony or a sense of fairness.
- Children seen as less financially well-off were more likely to get help from parents.
- Children who were very close to their parents were more likely to receive support than those less close.
- Gender and birth order mostly did not affect the likelihood of receiving help.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
