I have a client who has been searching for a "move up" home for awhile, and has been watching the prices rise before his eyes. This got him thinking about whether any of his children would be able to afford a home for themselves down the line.
In fact, he's so concerned that he's considering pivoting the plan from buying a family home, to buying a rental property, so he'll be able to help the kids out from the proceeds of that when the time comes. Given that his kids are all between the ages of 10 & 15, this could be a great plan for them.
I often run into younger people that need a little help with their down payment to buy their first home. The Bank of Mom & Dad sometimes steps in with a cash gift, which works out great for the buyer. But, I often wonder if it's always a good idea for the parents.
I've seen two cases recently where the parents helped out in a BIG way, by using the proceeds from selling their own home. In both cases, the parents were heading into retirement, and, in both cases, that plan was compromised. One was not able to retire at all, and the other has a very different retirement than they planned.
So, I'd like to suggest that if this is something you'd like to do in future, perhaps you could (and should) plan for that now?
If your son or daughter is over 18, perhaps buying an investment property together would have the added bonus of teaching responsibility, along with establishing a great credit rating for them. And, you'd be able to recoup your costs as well. A win/win really.
There are all kinds of creative ways to help out financially, this is just one. But, they all take some good planning to be a win on both sides.
Cheers to your kids future! AND yours!