Buying a first home is no small feat. For many young adults, the challenges are steep: saving for a deposit, qualifying for a mortgage, and navigating the added costs of legal fees, taxes, and insurance. With housing prices still high in many areas, more and more first-time buyers are turning to the "bank of mum and dad" for support. For parents willing to lend a hand, there are now a variety of financial tools available—each with its own pros, cons, and implications.

The most common way parents help is by gifting money toward the deposit. A larger deposit can dramatically improve mortgage terms and make approval more likely. However, lenders require clear documentation confirming the funds are a gift, not a loan. If the buyer is purchasing with a partner, it's wise to formalize the arrangement with a deed of trust that outlines who the money belongs to and what should happen if the couple separates or sells the property. If the funds are being lent, rather than gifted, that should also be documented, though doing so may slightly reduce the buyer's borrowing power since some lenders treat personal loans as a liability.

Parents who don't have immediate cash available can explore other ways to raise funds. A personal loan may work for smaller contributions. For larger needs, a retirement interest-only mortgage allows homeowners to borrow against their equity and make only interest payments, with the loan repaid when the home is sold after death or long-term care begins.

For those concerned about giving up a lump sum, family offset mortgages offer a middle-ground solution. These mortgages link a parent's savings to their child's loan, reducing the interest owed without transferring funds permanently. Barclays' Family Springboard mortgage, for example, lets parents deposit 10% of the home's value into a special account for five years. At the end of the term, the money is returned, assuming repayments have been met.

Guarantor mortgages offer another alternative, particularly when income is the main barrier. By using their own savings or home as collateral, parents can help their child qualify for a mortgage they might not obtain on their own. The risk, of course, is that the parent becomes liable if their child can't make the payments—so financial stability and legal clarity are key.

A more flexible option gaining popularity is the joint borrower sole proprietor (JBSP) mortgage. This allows parents and children to be listed as borrowers on the mortgage, but only the child is named on the property title. This setup helps increase borrowing capacity while avoiding additional stamp duty charges and keeping the property out of the parents' taxable estate.

Traditional joint mortgages are still an option as well. These allow parents and children to combine their incomes to qualify for a larger loan. However, ownership must be clearly defined—either as joint tenants or tenants in common—and parents who already own property should be aware of second-home stamp duty surcharges and future capital gains tax implications.

Some new-build developers are now recognizing the role families play in home purchases and offering targeted incentives. For example, Persimmon's "Bank of Mum & Dad" program offers parents a £2,000 reward if they contribute at least 5% of the purchase price toward their child's new home.

Estate planning is another crucial consideration. Gifting money during your lifetime can reduce the value of your taxable estate, as long as you live for at least seven years after the gift is made. Each individual can gift up to £3,000 annually tax-free, and unused amounts can roll over for one year. That means a couple could give their child £12,000 in one year without affecting their inheritance tax position. Wedding gifts up to £5,000 are also tax-exempt.

Still, generosity must be balanced with personal financial security. A financial adviser can help assess whether a gift or loan is sustainable, using cash flow projections to ensure parents aren't jeopardizing their own future. It's also important to update your will and securely store documentation for any contributions made, whether as gifts or loans.

In the end, helping your child buy their first home is a deeply rewarding gesture—but it requires planning. From legal protections to tax planning and affordability checks, each step should be taken with care. Whether you're contributing savings, offering a guarantee, or exploring new mortgage structures, speaking with professionals can help you make informed decisions that support your child while safeguarding your own financial health.

With the right structure and sound advice, you can help your child move forward with confidence—and maybe even unlock new peace of mind for yourself in the process.

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Buying a home for the first time can be overwhelming. Between scraping together a deposit, qualifying for a mortgage, and covering legal and administrative costs, first-time buyers face significant hurdles. Many young adults are leaning on the financial support of their families, often referred to as the "bank of mum and dad," to help them get started. Whether it's providing a gift toward the deposit or finding creative ways to increase mortgage affordability, there are more strategies than ever for parents to lend a hand

One of the most common forms of support is gifting money toward a deposit. A larger deposit not only improves a buyer's chances of getting approved for a mortgage but also opens the door to better interest rates. While gifting is generous, it's also important to understand the fine print. Lenders will want written confirmation that the gift does not need to be repaid, and legal documentation such as a deed of trust can protect your contribution—particularly if your child is purchasing a home with a partner. This document outlines who the money was gifted to and what should happen if the property is sold or the couple splits up. If the money is intended to be a loan, formalizing it with a contract avoids confusion later and ensures transparency with the lender, though doing so might impact your child's borrowing power.

If you don't have cash on hand, there are still ways to raise funds. For smaller sums, a personal loan could suffice. For larger amounts, you might consider a retirement interest-only mortgage, which allows you to access equity in your own home. You pay only the interest until you enter long-term care or pass away, at which point the loan is repaid through the sale of your home.

Parents can also consider family offset mortgages. These let you link your savings to your child's mortgage, reducing the interest paid without giving up access to the savings entirely. This method offers a middle ground between gifting and safeguarding your future financial flexibility. Products like the Barclays Family Springboard allow parents to place money into a secured account that supports their child's mortgage for a set period—often five years—before the funds are returned.

For buyers struggling to qualify for a mortgage based on income, a guarantor mortgage can be a powerful tool. This arrangement lets parents use their own savings or home equity as collateral, offering a safety net for lenders and increasing their child's chances of approval. However, it also means you're responsible for repayments if your child defaults, so it's crucial to assess your own financial position carefully.

Another route is the joint borrower sole proprietor (JBSP) mortgage, which allows multiple people to be listed on the mortgage while only one person is listed on the property's title. This arrangement helps boost affordability without adding to the parents' taxable estate or triggering extra stamp duty fees for second-home buyers. JBSP mortgages are growing in popularity as more lenders embrace this flexible solution.

Joint mortgages are another option. Combining incomes can increase mortgage eligibility and unlock better deals. In this case, it's important to legally define ownership—either as joint tenants, where both parties own 100% together, or tenants in common, where each person's share is specified. Be mindful of the tax consequences, especially if the parents already own property, as this could trigger a second-home stamp duty surcharge and later, capital gains tax.

If your child is considering a new-build property, some developers offer incentives for parental contributions. For instance, Persimmon's "Bank of Mum & Dad" program rewards qualifying family contributions with a £2,000 bonus after completion. These kinds of schemes can make supporting your child even more worthwhile.

Estate planning should also be part of the conversation. Gifts made during your lifetime can be exempt from inheritance tax, provided you live at least seven years after making them. Each person has an annual exemption of £3,000, and if unused, this can roll over for one year. This means a couple could gift £12,000 in a single tax year without triggering tax liabilities. You can also give up to £5,000 tax-free as a wedding gift to a child. These rules allow parents to reduce their taxable estate while helping their children build long-term financial security.

However, it's essential to ensure that supporting your children won't jeopardize your own financial well-being. A qualified financial adviser can use tools like cash flow modelling to help you understand how different gifting options impact your future. Additionally, make sure to update your will and keep documentation of any gifts or loans in a safe place.

Helping your child buy their first home is a meaningful and generous gesture—but it's not one to rush into. Depending on your goals and financial situation, some options will be better than others. Whether you're gifting money, acting as a guarantor, or exploring more complex lending arrangements, speaking with a mortgage broker, solicitor, or financial adviser will help ensure your support is structured wisely.

In the end, the goal is simple: giving your children the foundation they need to become homeowners, while protecting your own financial future. With careful planning and the right advice, you can do both.

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Fair housing isn't just a law—it's a commitment to justice, equity, and the belief that everyone deserves a place to call home. It's about more than following rules. It's about leading with integrity, treating people with dignity, and creating communities where every individual, regardless of race, background, gender, or ability, can live and thrive. At its core, fair housing represents the freedom to belong. And in real estate, that freedom carries real weight.

Buying or renting a home isn't just a financial decision—it's about futures, families, and finding where you belong. Fair housing protects that journey. It ensures that every person is treated equitably, regardless of who they are or where they come from. Professionally, it means real estate agents must uphold standards that go beyond transactions. They're expected to treat all clients equally, regardless of race, religion, national origin, sex, gender identity, sexual orientation, familial status, or disability. That's not just good practice—it's the law. And more than that, it's what keeps our industry credible and our communities strong.

At organizations like LIBOR (Long Island Board of REALTORS®), fair housing is more than a checkbox—it's a foundation. It's built into everything they do: from training agents through bias-awareness programs and continuing education, to advocating for equity at the local and national levels. Their "Home for All of Us" campaign is a reminder that fair housing isn't seasonal. It's a year-round responsibility. Agents are encouraged to go beyond compliance. That means participating in programs like NAR's Fairhaven simulation or earning the "At Home With Diversity" certification. It means promoting diverse voices in leadership, speaking openly about inequity, and shaping a culture of inclusion through everyday choices.

Some people may ask—haven't we already solved this? Sadly, no. Disparities in homeownership still exist. Digital tools like algorithmic lending and AI-driven advertising have introduced new challenges that can unintentionally exclude protected groups. Where you live impacts everything: the schools your children attend, your access to healthcare, job opportunities, and the ability to build generational wealth. Fair housing laws don't just protect people from outright discrimination—they safeguard the opportunity to build a stable and prosperous life.

Consider this real-life example. In the 1930s, a Black couple in California bought a home despite overwhelming prejudice. Years later, they sold that home to a Chinese family—not because of the price, but because they wanted to give someone else the same chance they had. Decades later, the house sold for millions. In gratitude, the Chinese family donated $5 million to a Black student resource center. One act of fairness created a ripple of opportunity across generations. That's the power of fair housing. It doesn't just change who owns a home—it changes lives.

If you're a real estate professional, fair housing protects your business, your license, and your reputation. It signals to clients that they're in good hands. If you're a consumer, fair housing protects your right to access the home, the school district, and the community that fits your dreams. Behind the scenes, advocates are pushing for better policies, clearer lending practices, and resources for first-time buyers. You may not see it all—but it's working for you.

There's reason for optimism. More professionals now recognize that fair housing education isn't a hurdle—it's essential. Brokerages are investing in meaningful training that addresses real-world issues. States are increasing enforcement and adding new protections. And real estate associations are working daily to elevate fair housing to the center of the profession. Still, there's work to be done. Discrimination—both overt and subtle—still happens. Some conversations are still uncomfortable. Representation in leadership doesn't always reflect the communities served. Compliance remains uneven. The path forward demands more than intention. It requires action, accountability, and courage.

Whether you're a broker, agent, property manager, or someone searching for their next home—you have a role to play. Be aware of your own biases. Stay informed with fair housing training. Engage in honest conversations about race, equity, and access. Treat every client with fairness, respect, and transparency. Support diverse voices and leaders within your profession. At LIBOR, fair housing isn't just taught—it's lived. It's part of every class, every meeting, every decision. And it's a standard that real estate professionals across the country are called to uphold.

We've come a long way, but true progress means shifting from reacting to injustice to actively building inclusion. That's what fair housing is about—not just protecting rights but expanding opportunity. With stronger training, smarter policies, and a collective commitment to fairness, we can create neighborhoods that reflect the best of us: our values, our care for others, and our belief that everyone deserves a safe, welcoming place to call home. Fair housing is not just a goal. It's a promise. One that starts with us.

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More Homes Are Finally Hitting the Market

If you've been thinking about buying a home but have felt frustrated by limited choices, there's a bright spot worth celebrating—housing inventory is on the rise.  According to the latest data from Realtor.com, the number of homes actively for sale across the country has increased by an impressive 36.6% compared to this time last year. That kind of growth means more options, more opportunities, and a little more room to negotiate—something buyers have not had in quite some time.

Lawrence Yun, Chief Economist at the National Association of Realtors, put it clearly: "Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions." And he's right. After years of low inventory and fierce competition, buyers can finally breathe a bit easier. While this doesn't mean homes are sitting on the market indefinitely or that prices are falling dramatically, it does signal a meaningful shift toward a more balanced market.

When inventory is low, buyers often feel pressured to make fast decisions, waive contingencies, or bid far over asking price just to compete. With more homes available, that dynamic starts to change. You get time to compare properties, think carefully, and even negotiate on things like closing costs or inspection repairs—advantages that were rare just a year or two ago. But let's keep things in perspective.

While the year-over-year increase is encouraging, we're still playing catch-up. Compared to pre-pandemic years (2017 to 2019), there are about 29% fewer homes for sale nationwide. That means we're not yet at what many would consider "normal" market conditions, and it helps explain why home prices are holding steady rather than falling. As Bill McBride, a respected housing analyst from Calculated Risk, explains: "Currently inventory is increasing year-over-year but is still well below pre-pandemic levels."

This is expected. After years of underbuilding, supply chain issues, and skyrocketing demand, returning to a typical housing inventory will take time. Still, the upward trend is a win for today's buyers—and in some cities and regions, that rebound is happening faster. Real estate is always local. What's happening in Phoenix may look very different than what's happening in Pittsburgh or Atlanta. Some markets are seeing faster inventory rebounds than others, which means buyers in certain areas might already be experiencing more favorable conditions.

If you want to know what things look like where you live, the best move is to connect with a local real estate agent. They'll know how your area compares to national trends and whether now is a smart time to make your move. Housing supply is growing. That means more homes to choose from, a little less stress, and a better shot at finding a place that checks all your boxes. It's not a buyer's market yet, but it's a much friendlier one than we've seen in years.

If you've been waiting for a sign to jump back into the home search, this might be it. So ask yourself—what kind of home are you looking for? What's your budget? What neighborhoods feel like home?

A local agent can help you answer those questions, guide you through your options, and get you one step closer to the front door of your next place.

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The National WWII Museum in New Orleans is taking another significant step forward in its educational mission, announcing plans to expand its "education corridor" along Magazine Street thanks to a generous property donation from the Arlene and Joseph Meraux Charitable Foundation.

The donated real estate includes three adjacent properties in the 900 block of Magazine Street, directly next to the museum's John E. Kushner Restoration Pavilion. This space is already home to key World War II artifacts, including a restored patrol torpedo boat, and features the STEM Innovation Gallery. Located just across the street from the museum's Higgins Hotel, the newly acquired 18,000 square feet will serve as vital support space for staff offices, meeting rooms, artifact storage, and programming.

According to museum leadership, the expansion is a critical part of a larger effort to broaden the museum's educational impact for students, educators, scholars, and lifelong learners—not just in Louisiana but across the nation.

"This meaningful donation comes at an ideal time as the Museum prepares to grow its educational impact," said CEO Stephen Watson in a statement Thursday. While the museum has not revealed the exact valuation of the properties, Orleans Parish records estimate the combined assessed value at just under $2.6 million.

The museum has long prioritized education in its growth plans. Founded by University of New Orleans historian Stephen Ambrose and fellow academic Gordon "Nick" Mueller, the museum began as a tribute to the D-Day invasion and has since evolved into a $420 million campus chronicling the entire war. Educational features are embedded throughout, including the Hall of Democracy's library and research floors, the Jenny Craig Institute for the Study of War and Democracy, and a partnership with Arizona State University that offers an online master's degree in World War II studies to nearly 200 students.

In May 2024, the museum's Board of Trustees approved a new 10-year strategic plan through 2035 that includes a $260 million fundraising campaign. The plan calls for upgraded campus facilities, improved visitor engagement, and expanded educational initiatives.

Earlier this month, the museum also broke ground on a $12 million educational facility just a block away at Magazine and Poeyfarre Streets. That 34,000-square-foot development was made possible in large part by a $7.5 million gift from Texas philanthropists Timber and Peggy Floyd. This facility will be known as the Floyd Education and Collections Pavilion and will serve as a production and storage site for exhibits, in addition to housing the Sanderson Leadership Center. The leadership center will offer courses tailored to CEOs, military officers, and other professionals seeking to grow in strategic leadership.

Rita Gue, president of the Meraux Foundation and niece of World War II Coast Guard veteran Joseph Meraux, underscored the foundation's commitment to the museum's mission. "At the Meraux Foundation, we believe that education is a powerful force for change," she said in the museum's announcement.

As the museum shifts from completing its exhibition footprint to deepening its educational offerings, this latest expansion signals that its focus is now squarely on legacy—preserving history not only through artifacts but through instruction, research, and the cultivation of future leaders.

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Buying a home is one of the largest financial commitments most people ever make. With the median price of a home in the U.S. now topping $361,000, according to Zillow, protecting that investment becomes a natural next step. But in the search for protection, some homeowners are tempted by TV commercials and online ads promising worry-free living through home warranties. These plans are marketed as safety nets, covering unexpected repairs to appliances and systems that homeowners insurance does not. But are they worth it?

Despite the name, a home warranty isn't an insurance policy. It's a service contract that promises to pay for the repair or replacement of covered items—such as HVAC systems, dishwashers, or plumbing—if they break down under normal use. That sounds reassuring, especially if your budget is tight and your appliances are aging. But before signing on the dotted line, you should take a closer look at what these contracts actually deliver and where they might fall short.

First, consider what you already have. Many appliances in newer homes are still covered under the manufacturer's warranty, and if you bought a device with a credit card, that card may automatically extend the original coverage. For example, several Chase cards offer an extra 12 months of protection beyond what the manufacturer provides. If you already have some of this coverage in place, you might not need a separate plan at all.

Cost is another major consideration. Prices vary widely depending on your location and the level of coverage you choose. Some plans cover just your appliances, while others extend to plumbing and electrical systems. A homeowner in Ohio might pay around $600 a year for a basic plan, while someone in Westchester County, New York could pay $1,200 for more comprehensive coverage. And that's before additional service fees—yes, most home warranties still charge you a fee each time a contractor comes out for a repair, even if the issue is covered.

Then there's the question of what is actually included. Many complaints about home warranties stem from confusion over what's covered. You may think your refrigerator is protected, only to find out the icemaker isn't. Or your oven might be excluded from coverage if it breaks while in self-cleaning mode or is damaged by a power surge. Even something as seemingly minor as poor installation or skipped maintenance could void your claim.

This is why experts stress the importance of reading the fine print. Melanie McGovern from the Better Business Bureau warns that many consumers are caught off guard when repairs are denied or the quality of service is underwhelming. She advises homeowners to ask every question they can think of before buying—and to expect real answers. A company with strong customer service can make a big difference if you ever have to file a claim.

Another catch is how repairs and replacements are handled. If your appliance fails completely, the company might offer to replace it—but not necessarily with something equal in value. In many cases, they only pay the depreciated value of the item, leaving you to make up the rest if you want a similar replacement. And even then, payouts are often capped. One provider, America's 1st Choice Home Club, limits coverage to $3,000 per item per membership term, which may not go far if you're replacing a major system.

Given these limitations, some experts suggest skipping home warranties altogether. Instead, consider building your own financial safety net. Consumer Reports recommends setting aside money in a dedicated savings account for home repairs and replacements. That way, you can control how and when that money is used without navigating red tape or service limitations.

Home warranties are not inherently bad, but they're not one-size-fits-all solutions. If you're buying a brand-new home, your builder's warranty and manufacturer coverage will likely provide more than enough protection in the first few years. However, if you're moving into an older home with aging appliances, a home warranty might offer some value—as long as you understand what it covers and what it does not.

Ultimately, a home warranty might provide peace of mind, but it will not remove the responsibilities of homeownership. Before you commit, take time to ask questions, read the fine print, and decide whether it's better to trust a third party—or yourself—with your home's most important systems.

Click Here For the Source of the Information.

Peace of Mind or Money Pit? What You Should Know Before You Buy

Buying a home is one of the largest financial commitments most people ever make. With the median price of a home in the U.S. now topping $361,000, according to Zillow, protecting that investment becomes a natural next step. But in the search for protection, some homeowners are tempted by TV commercials and online ads promising worry-free living through home warranties. These plans are marketed as safety nets, covering unexpected repairs to appliances and systems that homeowners insurance does not. But are they worth it?

Despite the name, a home warranty isn't an insurance policy. It's a service contract that promises to pay for the repair or replacement of covered items—such as HVAC systems, dishwashers, or plumbing—if they break down under normal use. That sounds reassuring, especially if your budget is tight and your appliances are aging. But before signing on the dotted line, you should take a closer look at what these contracts actually deliver and where they might fall short.

First, consider what you already have. Many appliances in newer homes are still covered under the manufacturer's warranty, and if you bought a device with a credit card, that card may automatically extend the original coverage. For example, several Chase cards offer an extra 12 months of protection beyond what the manufacturer provides. If you already have some of this coverage in place, you might not need a separate plan at all.

Cost is another major consideration. Prices vary widely depending on your location and the level of coverage you choose. Some plans cover just your appliances, while others extend to plumbing and electrical systems. A homeowner in Ohio might pay around $600 a year for a basic plan, while someone in Westchester County, New York could pay $1,200 for more comprehensive coverage. And that's before additional service fees—yes, most home warranties still charge you a fee each time a contractor comes out for a repair, even if the issue is covered.

Then there's the question of what is actually included. Many complaints about home warranties stem from confusion over what's covered. You may think your refrigerator is protected, only to find out the icemaker isn't. Or your oven might be excluded from coverage if it breaks while in self-cleaning mode or is damaged by a power surge. Even something as seemingly minor as poor installation or skipped maintenance could void your claim.

This is why experts stress the importance of reading the fine print. Melanie McGovern from the Better Business Bureau warns that many consumers are caught off guard when repairs are denied or the quality of service is underwhelming. She advises homeowners to ask every question they can think of before buying—and to expect real answers. A company with strong customer service can make a big difference if you ever have to file a claim.

Another catch is how repairs and replacements are handled. If your appliance fails completely, the company might offer to replace it—but not necessarily with something equal in value. In many cases, they only pay the depreciated value of the item, leaving you to make up the rest if you want a similar replacement. And even then, payouts are often capped. One provider, America's 1st Choice Home Club, limits coverage to $3,000 per item per membership term, which may not go far if you're replacing a major system.

Given these limitations, some experts suggest skipping home warranties altogether. Instead, consider building your own financial safety net. Consumer Reports recommends setting aside money in a dedicated savings account for home repairs and replacements. That way, you can control how and when that money is used without navigating red tape or service limitations.

Home warranties are not inherently bad, but they're not one-size-fits-all solutions. If you're buying a brand-new home, your builder's warranty and manufacturer coverage will likely provide more than enough protection in the first few years. However, if you're moving into an older home with aging appliances, a home warranty might offer some value—as long as you understand what it covers and what it does not.

Ultimately, a home warranty might provide peace of mind, but it will not remove the responsibilities of homeownership. Before you commit, take time to ask questions, read the fine print, and decide whether it's better to trust a third party—or yourself—with your home's most important systems.

Click Here For the Source of the Information.