Helping Your Kids Buy a Home Infographic
As housing affordability continues to challenge younger generations, more Canadian parents are stepping in to help their children take the first step onto the property ladder. In 2024, over 30% of first-time homebuyers in Canada received financial support from family, with average gifts reaching $115,000—and even higher in markets like British Columbia and Ontario. Helping your kids buy a home is becoming more common, and for many families, it’s one of the most meaningful ways to provide support when it matters most.
What parents need to consider before offering financial help.
But while helping your kids buy a home is a generous gesture, it also comes with long-term considerations. Whether it’s a down payment gift, co-signing a mortgage, or buying property together, each approach has financial, legal, and emotional implications. Without a clear plan, misunderstandings or unintended consequences can arise. With thoughtful planning and open communication, however, it’s possible to provide support in a way that protects your finances and strengthens family relationships.
This infographic—part of the FreshPlan financial planning toolkit—offers a straightforward, visual overview of what parents need to know when helping their kids buy a home. It outlines common support strategies, potential risks, and practical tips to guide the conversation. Financial professionals can use it as a helpful resource to engage clients in meaningful planning discussions and ensure this generous act is done with clarity and confidence.
Infographic Features
- Communicate complex concepts with vibrant, sharable, easy-to-understand infographics
- Personalized for individual Advisors
- Current and timely for client communications
- One of many infographics included in FreshPlan software
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