I want to help my daughter to buy a house

surfcat

Try taking a look at https://www.housepricecrash.co.uk. Take the forums on there with a little pinch of salt as mostly they seem to be full of whingeing Thatcherites who missed out on the buy-to-let boom, but there is some good information about the insanity of the current housing market, and some of the myths that estate agents will push.

Its also wise to be wary of newspaper property or money supplements as these tend to be full of adverts for builders and estate agents. Vested interest anyone?

Your daughter will not miss any mythical boat if she does not buy now. It is almost impossible that she will say in 2 years time, "but if I'd bought then I would have made a 20% price profit."

As someone mentioned earlier the true cost comparison between buying and renting should be:
renting (£x per month, possible annual renewal fee)
mortgage (£x per month capital, £y per month interest repayment, £z per month boiler repair, paintwork, more on flood, fire insurance + the added risk that you may not be in the same job in a couple of years and may have to move + much more difficult to move out of an area you don't find that you like.)

Help bring down the property prices: DONT support ridiculous purchases.

Norman-B

lisyloo wrote:

You seem to have quite a large house (unless you live in an expensive area).

How about your daughter lives with you for a while and saves the £700 per month rent (and lower bills and council tax).

Just an idea.

Nope, just a three bed, priced at insane ammounts.

Yes, it's a good idea. I have suggested the same but there are 3 of us here and a fourth might make it a little crowded (in her view).

Spendless

Do you only have one child? If not would the others see it as favouritism if you help one out with a house purchase and not the other/s?

Norman-B

Spendless wrote:

Do you only have one child? If not would the others see it as favouritism if you help one out with a house purchase and not the other/s?

Yes, I can see problems there. Perhaps it wasn't such a good idea after all!