If you’re a homeowner, chances are you’ve built up more wealth than you realize—just by living in your house and watching its value grow over time. And that equity? It’s not just a number on paper; it could be the very thing that changes your child’s life.
In today’s market, affordability continues to be a challenge. Even with steady jobs and solid financial planning, many first-time buyers in areas like Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake still find it difficult to make the leap into homeownership. That’s where your equity can make a huge difference.
To put it into perspective, the average homeowner with a mortgage has around $311,000 in equity, according to Cotality (formerly CoreLogic). That’s significant wealth. Many parents are using part of that equity to help their children purchase their first homes. In fact, research from Bank of America shows that nearly half (49%) of buyers between 18 and 26 received money from their parents to use toward their down payment.
While not all parents tap directly into their equity, the wealth they’ve built through homeownership often plays a critical role in making financial support possible. And when you think about it, that’s more than just money—it’s a legacy. It gives the next generation a chance to buy their own home, build equity, and step into a future with more stability and less financial stress.
For many parents, the reward comes in moments that go beyond the numbers—the moment their child can say, “We got the house.”
And here’s something to consider: according to Compare the Market, 45% of Americans who received financial help from parents or grandparents said they wouldn’t have been able to buy a home without it. That means your support, whether through equity or savings, could be the difference between homeownership staying out of reach—or becoming reality.
At the end of the day, this isn’t just about passing down money. It’s about passing down opportunity, security, and a meaningful head start on life.
If you’re thinking about ways to leverage your equity to help your family step into homeownership, let’s talk about the best strategy for your unique situation. Visit your trusted real estate resource to explore options and start planning your next step.
