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Homeownership Advantage: Growing Up in a Home That Owns You!


‘If your parents are homeowners, you’re more likely to be a homeowner,’ housing expert says. Here’s why


Parents’ homeownership status plays a significant role in shaping their children’s path toward homeownership.

Homeowner parents tend to provide more direct assistance, such as gifted money or loans for down payments.

Moreover, they often create multigenerational households, allowing young adults to save money and even gain firsthand knowledge about the process of achieving homeownership.

In contrast, children of renter parents or those who do not come from home-owning backgrounds might face greater challenges, due to a lack of financial support and limited knowledge about the housing market.

Additionally, cultural factors during upbringing also influence a person’s likelihood to become a homeowner.

Young adults raised in families where homeownership is prevalent tend to be more motivated to pursue the same status.

Furthermore, multigenerational living can create opportunities for young adults to build savings and gain insights into homeownership.

However, challenges arise for those with parents who aren’t homeowners, as they might lack financial capacity and space to accommodate a multigenerational lifestyle.

Overall, parental homeownership status, cultural upbringing, and direct financial assistance play important roles in shaping an individual’s path towards becoming a homeowner.

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    “Homeowner parents are more likely to help young adult children with down payments, help them save money and even show them how to achieve homeownership, experts say.”

    “Homeowner parents are more likely to directly assist their children with down payments through gifted money or loans, create multigenerational households to help young adults save money and even pass along firsthand knowledge of how to achieve homeownership, experts say.”


    “The lack of affordable housing options is pushing young adults to live with their parents, and multigenerational living can help young people build savings to become homeowners, Wachter said.”

    “But it’s harder for those with parents who are not homeowners: “Renter households are often precluded from bringing more people into their home. As a homeowner, you have more space, flexibility; you’re able to do so,” she said. “There’s this intergenerational propensity to be renters.””

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