How You Can Help Your Kids or Grandkids Become Homeowners in Bellingham & Whatcom County
- Michael Shkurat
- Dec 23, 2025
- 4 min read
Are you a longtime homeowner in Whatcom County, perhaps owning your home for 20, 30 or 40 years. Maybe you have seen your home’s value rise, built substantial equity and savings. Now may be the time to use that advantage to help your children or grandchildren get a home of their own and stay close to family right here in Bellingham.
This is not just a gift. This is a smart, legacy-oriented, deeply satisfying financial decision. With rising prices and shrinking affordability, younger buyers today face a very different real estate market than previous generations. You can help them get a foothold. And as a local real estate professional I can help you structure that help so your family builds wealth together.
The Challenge for Younger Buyers
According to the latest data from the National Association of Realtors (NAR), the median age of first-time homebuyers in the United States is now 40 in 2025, the oldest on record. First-time buyers now make up only 21 percent of all home purchases, the smallest share ever reported. That is a dramatic change compared to decades ago when first-time buyers were often in their late 20s or early 30s. This shows how difficult it has become for younger generations to buy a home.
Meanwhile many younger adults face mounting financial burdens. According to the Federal Reserve Bank of New York in its 2025 Household Debt and Credit report, in Q1 2025 total student loan debt in the U.S. reached about $1.63 trillion, and student loan delinquency (loans 90 or more days past due) jumped sharply as federal loan payments resumed. At the same time, credit card debt remains historically high, with roughly $1.18 trillion outstanding and significant delinquency levels. Serious delinquency on credit cards (90+ days past due) rose for some periods, and auto loans also continue to show stress.
Credit card debt, student loans, auto loans, high rents, limited savings, all these factors make it far harder for young adults to save the down payment needed to buy a home, especially in high-cost markets like Bellingham and Whatcom County.
The Risk of Losing Family Connections When Young Adults Move Away
With local real estate values high and home affordability low many younger adults are forced to choose: rent indefinitely or leave the area altogether. Many are relocating to more affordable states in search of housing they can afford. Families who wish to stay connected, parents, grandparents, children, grandchildren, face a painful reality: either they stay and watch family move across the country, or they themselves uproot just to stay close.
That is why what you do as a long-time homeowner matters so much. By offering help, whether via a down payment gift, a loan, or equity-assistance, you can help your children or grandchildren buy locally, close to family, and avoid forced relocation.
A Smart, Responsible Way to Help
If you decide to help, it is wise to treat it as structured support, not a handout. You might ask that younger adults:
Pay down or eliminate high-interest credit card debt.
Reduce or begin serious repayment on student loans.
Contribute some portion of the down payment or handle closing costs themselves.
Take a homebuyer education course or work with a real estate professional to understand ongoing costs like taxes, maintenance, insurance.
Commit to long-term financial responsibility and home stewardship.
With that kind of accountability, the young buyer has real “skin in the game.” They are more likely to treat the home as an investment, not just a temporary place, which increases the chances of long-term stability and success for your family.
The Benefits of Homeownership — For Them and for Whatcom County
Helping your children or grandchildren buy a home is more than giving them a roof over their head. It can:
Launch them on a path toward long-term wealth building, as equity accumulates and home values appreciate over time.
Provide housing stability, freeing them from unpredictable rents and unstable housing situations.
Make it easier for them to start families or settle down, giving them space, security, and permanence.
Keep your family rooted in Bellingham and Whatcom County, preserving intergenerational support, relationships, and community ties.
Strengthen the social fabric of the region, as homeowners tend to invest in local businesses, schools, and community well-being.
Helping younger adults buy locally is an investment in your family and the community’s future.
Why This Matters Right Now — And How I Can Help as Your Local Real Estate Professional
The data shows younger Americans carry high levels of debt, and many struggle with credit card, student loan and auto loan burdens at historically elevated levels.
That makes the chance for local homeownership far more difficult, especially in areas like Bellingham and Whatcom County. If your children or grandchildren want to stay close to family, you can help make that possible.
As a real estate professional deeply invested in Bellingham and Whatcom County I can help you:
Evaluate your home equity and explore options for assistance, gift, loan, down payment support, or even downsizing to free equity.
Help your child or grandchild find suitable, affordable homes in the local market.
Guide them through budgeting, mortgage pre-approval, and long-term planning so homeownership becomes stable and sustainable.
Help set up clear agreements that define expectations, contributions, and accountability so everyone feels secure and committed.
If you are ready to explore this possibility for your family, helping the younger generation build roots and wealth while keeping family close, I would be honored to guide you. Let us turn your legacy into their future.
Comments