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You Could Use Some of Your Equity To Give Your Children the Gift of Home

You Could Use Some of Your Equity To Give Your Children the Gift of Home

If you’ve owned your home for several years, there’s a good chance you’ve built up a significant amount of equity—just by living in your home and allowing the market to do its thing. And that equity? It’s more than just a number. It can become a meaningful part of your legacy.

With home prices still high and affordability continuing to challenge younger buyers, many first-time homebuyers—even those with good jobs and solid plans—are struggling to make the leap into homeownership. That’s where your equity might come into play.

Parents Are Stepping In—and It’s Making a Real Difference

According to Cotality (formerly CoreLogic), the average U.S. homeowner with a mortgage has $311,000 in equity. That’s a powerful financial tool.

Increasingly, parents are using a portion of that equity to help their children with a down payment or closing costs. Bank of America reports that nearly half (49%) of homebuyers between the ages of 18 and 26 received money from their parents to make homeownership possible:

Even though the data doesn’t detail exactly how many parents tapped into their equity, it’s likely that for many, that’s where the money came from—especially given how much wealth is tied to homeownership today.

This Is About More Than Money

Helping your child buy a home isn’t just a financial decision—it’s an emotional one. It’s about giving them a head start you might not have had. It’s about seeing them say, “We got the house!”—and knowing you played a role in making that dream come true.

According to Compare the Market:

“Of those who did receive monetary aid from parents and grandparents to buy a house, 45% of Americans said they would not have been able to purchase a house without financial support.”

Bottom Line

Your home equity might be the key that unlocks homeownership for the next generation. If you’re in a position to help—and want to explore what that could look like—it might be more feasible than you think.

Let’s talk about your options and how you can turn the equity you’ve built into a legacy that lasts.

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Complaints prompt Carlsbad to remove traffic circles City will install all-way stop signs instead of roundabouts at two Kelly Drive intersections A vehicle maneuvers through the traffic circle at Park Drive and Kelly Drive in this view looking north up Kelly Drive. Above left is Laguna Riviera City Park, behind it is Kelly Elementary School. (Charlie Neuman/For The San Diego Union-Tribune) A vehicle maneuvers through the traffic circle at Park Drive and Kelly Drive in this view looking north up Kelly Drive. Above left is Laguna Riviera City Park, behind it is Kelly Elementary School. (Charlie Neuman/For The San Diego Union-Tribune) By PHIL DIEHL | [email protected] | The San Diego Union-Tribune UPDATED: June 20, 2025 at 6:15 AM PDT Carlsbad’s City Council voted unanimously Tuesday to remove two traffic circles, or small roundabouts, that residents said were “a failed experiment” installed in 2013 as a pilot project. Homeowners near the traffic circles at two intersections on Kelly Drive said the traffic circles encourage speeding and create a safety hazard for children walking to the nearby Kelly Elementary School. “It is a mess, truly a mess,” said Sheila O’Neill, who volunteers as a crossing guard at the school. “The roundabout nudges cars closer to the crosswalk and kids crossing the street … all-way stops would be great. It would make next year so much better.” Traffic circles are different from roundabouts, although the terms often are used interchangeably. Traffic circles require less space and generally are placed in residential areas. Roundabouts are larger, sometimes with landscaping, usually have pedestrian crosswalks set back from the intersection, and are installed on busier streets and thoroughfares. Carlsbad approved the interim traffic circles for two intersections on Kelly Drive — at each side of Kelly Elementary School — one at Park Drive and the other at Hillside Drive. Each one is essentially a circle of small ceramic bumps or domes on the asphalt at the center of the intersection for vehicles to drive around. The bumps are small enough that cars can drive over without damage. “This was a well-intentioned experiment, but it’s time to acknowledge its failure,” said Steve Linke, a resident and former member of the city’s Traffic Safety and Mobility Commission. Council members agreed with the speakers. One of the options presented to the council was to proceed with a final design, environmental studies and permits for roundabouts to replace the Kelly Drive traffic circles. Instead, the council voted to remove the traffic circles, resurface the roadway with a slurry seal, and install all-way stop signs. Also, the council directed city staffers to consider the costs and benefits of other possible improvements such as bike lanes, crosswalks and curb ramps, and bring that information back at a future meeting. “It’s a good opportunity to step back, catch our breath and listen to what our residents are saying,” said Councilmember Keven Shin. “I feel like an all-way stop would create a lot of safety for the kids.” Teenagers on e-bikes ride south on Kelly Drive approaching the traffic circle at Hillside Drive, shown at right, where underground pipeline work continue in the middle of the circle. At right is the east end of Hillside Drive. (Charlie Neuman / For The San Diego Union-Tribune) Teenagers on e-bikes ride south on Kelly Drive approaching the traffic circle at Hillside Drive, at right, where underground pipeline work is underway in the middle of the circle. At right is the east end of Hillside Drive. (Charlie Neuman/For The San Diego Union-Tribune) Earlier this year, the City Council hit the brakes on the long-planned installation of a roundabout to replace the traffic signals at the beachfront intersection of Tamarack Avenue and Carlsbad Boulevard. That project also faced widespread community opposition. And the council has said that sometime soon it will reconsider a still unbuilt roundabout that it approved in 2023 for the intersection of Cannon Road and Carlsbad Boulevard. Roundabouts and traffic circles are elements of a “complete streets” program that Carlsbad has been working on for several years. The program’s goal is to prioritize safety for everyone on the roads, whether they are driving, walking or biking. In March the City Council approved five traffic circles to be installed at intersections in the older downtown Barrio neighborhood starting in 2026. Barrio residents generally supported the installations because they are expected to help control traffic and reduce speeding. The city obtained about $4 million in federal funding for the Barrio traffic circles. Originally Published: June 19, 2025 at 7:50 AM PDT

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