How to Help Your Adult Child Buy a Home

Each parents want to help their child when they want to start a new fresh. According to the National Association of REALTORS – “23% of those 37 and younger used a gift, and 6% used a loan from family or friends to purchase their home.” However, there are many other ways parents can help their adult child buy their first home. And this guide will describe home buying advice that saves you time as well.

Is It Important to Buy Your Child a Home?

We have covered the pros and cons of this so that you can consider before making your decision.

If you are thinking about purchasing a home for your adult child, speak to a legal, financial advisor. An expert can help you make the best decision.

Let’s have a look at the pros and cons.


One of the rewarding things in life is making a home for your child when you do it properly.

  1. If you plan to buy a home for your child, you have to start investing in your child’s future wealth.
  2. You should consider the inheritance tax advantages.
  3. You can think about mutual benefits on the property costs when they plan to pay you back.
  4. As a parent, you can help your children by investing property.


Most parents argue that the best way is to find their children their way so that they do not depend on their parents. Thus, you should consider a few cons before buying a new home for your adult child.

  1. They may not keep up the damage payments; instead, they will depend on you.
  2. If you do not keep up with payments, you may end up with your retirement savings.
  3. You may not be able to depend on your child or entitlement financially.

If your child is financially dependent and able to start building a new home at a younger age, you may not need to help them. But if they are stuck somewhere, you can assist them. Still, before making your best decision, make sure you think twice or take an expert’s advice.

Things to Consider Before Purchasing a Home for Your Adult Child

  1. Draft a Detailed Agreement
  2. Test How this Could Affect the Relationship
  3. Make Sure Your Estate Is In Order
  4. Don’t Live Beyond Your Means
  5. Don’t Think With Your Heart


  1. Draft a Detailed Agreement

You should always make a draft legal agreement so that you and your child feel comfortable. If your child misses a loan installment, you don’t need to pursue a lawsuit. But the main objective of the agreement is it shows the expectations limit of your child that protects you from any unwanted expenses.


You may feel strange to yourself if you have a great bonding with your child. But this agreement helps you de-escalate any kind of disagreements over the loan terms.

  1. Test How this Could Affect the Relationship

It’s crucial to consider how gifting a large amount of money to your child could change things since you cannot put the price on any great relationship, especially when it comes to the family bond. Generally, children could feel indebted to their parents, or sometimes they think it has caused stress on their relationship with their parents. That’s why before giving your adult child a big amount, you should talk to them beforehand.

  1. Make Sure Your Estate Is In Order

When it comes to giving money or loan to your child, it is very complicated. Additionally, you should consider how this will affect your financial plan. Thus, consider how you want to provide assistance to your child that won’t affect your financial plan.

  1. Don’t Live Beyond Your Means

It is very important not to give up beyond your means when you want to help your child as much as you want. So. you should make a proper financial plan when you want to purchase a home for your child.

  1. Don’t Think With Your Heart

Last but not least, don’t think with your heart while making decisions. Most parents make wrong decisions since they think from their heart. Make a plan, then execute it.

Reasons to Become a Plumber In Your City

Plumbing is an exciting career that helps you do something that interests you every day. You can spend your time helping people. Even though a plumber has the toughest job, the benefits cannot be ignored. This guide will describe the reasons for choosing plumbing as your career.

 7 Reasons to Become a Plumber

  1. Significant Demand in Plumbing Service
  2. The Pay Is Good in Plumbing Service
  3. You Have Independence
  4. It Offers Advancement Opportunities
  5. There’s Less Student Loan Debt
  6. You’re Helping People
  7. Job Satisfaction


  1. Significant Demand in Plumbing Service

According to the US Bureau of Labor Statistics, growing statistics indicate a growing need for quality plumbing services. They also mentioned that between 2018 to 2028, the demand could rise to 68,200 additional plumbers. This career is 14 percent faster compared to any other job. This also helps your skills up in demand; the amount paid to plumbers is driven up. Additionally, you will find consistent work in this field which is very important.


Another thing is that everyone needs plumbing service, whether it is a home or doctor’s office, or a school to every commercial or industrial building or space. However, the government has to provide licenses to the plumbers to get their job done. Moreover, this will create secured job stability, which may seem challenging.

  1. The Pay Is Good in Plumbing Service

When it comes to paying for plumbers, there are a lot of variables. Yet they mostly get above-average wages or fairly well. According to the US Bureau of Labor Statistics, in 2018, the average payment for plumbers was nearly $54,000 per year. A septic pumping specialist earns even more, but not all plumbers do it. If you are searching for septic pumping near me, then google it and try to hire a company with good reviews. Nevertheless, many have their companies that increase their charge for what they want.

  1. You Have Independence

The plumbing field creates an independent job for anyone, another crucial advantage. For instance, you can set up your schedule or work on your own time; that’s up to you. Many plumbers have their own plumbing business that makes it possible for them. They create their time zone for clients. So, you can pick up your own time that you want. But remember, the time flexibility is not the same for newbies.

  1. It Offers Advancement Opportunities

You will get plenty of opportunities to grow your skills to advance your career, whether you are working within a company or your own. For example, large companies have numerous plumber sectors, so you can move up to the management in these areas to learn new things.

Anyhow, creating a business model is one of the most common paths for many in the plumbing service. And this helps you create new opportunities.

  1. There’s Less Student Loan Debt

Becoming a plumber has several avenues; each of the people has the opportunity to learn both in the job environment and in a formal setting. Most plumbers get the chance of some education which is often in specialized schools or trade schools. Furthermore, they can work as an apprentice under an expert plumber to learn how it works. The best part is that the cost is associated with the traditional college education. As a result, you will be less in debt.

  1. You’re Helping People

A plumber helps other people by solving their problems which is a great thing. Throughout the plumbing service call, you are interacting one-on-one with people. And it feels really good to help people who need your help, plus count on you to help in a really big way. You can assure them to avoid any future problems by creating opportunities.

  1. Job Satisfaction

You may think a plumbing job is not satisfying, but the fun fact is that a plumbing job is one of the most satisfying services itself. This helps you create your path plus build a successful business. Also, you will help people often when they need it, which ensures good customer service. Additionally, you are helping people to protect them from disease or illness. Therefore, a plumbing career plays a vital role in the public’s well-being.


Hopefully, you understand the reasons we mentioned above about the reasons for becoming a plumber. However, if you don’t want to spend thousands of dollars on becoming an educated person, then plumbing is one of the best alternatives.

How to Help Your Children Buying a Home Without Impacting Retirement?

Make sure your costs should not exceed 30% of your income if you are thinking about buying your children a home. This strategy is for the homebuyers who are in the earning years. And when someone wants to purchase their first home in their early 20s or 30s, most likely they have resources from family. First, however, let’s discuss in detail how you can help your child while buying a home.

Strategies to buy your child new a home without impacting your retirement

Provide Loan Via Family Bank

To buy your adult child a home, there are mainly three general ways, these are:-

  1. Co-sign a Mortgage
  2. Provide an Intra Family Loan
  3. Money as a Gift

The most significant advantages created from the intra-family loan are from these three options above. A wealth strategist at RBC Wealth Management–U.S. Mr. Blake McKibbin mentions, “By making the applicable federal rate, usually, parents or grandparents make intra-family loans.” And the rate of the federal is set by the IRS as the minimum interest rate that can be charged to avoid any triggering gift taxes. The best part is that this option helps save thousand of dollars of interest since the rate is significantly below as per today’s rate.

Another best thing for the children is that when they take a loan from their parents or grandparents, this loan doesn’t have the same down payment as banks. Also, the requirements are not the same as loans from traditional lenders, credit checks, or mortgage insurance.

Furthermore, McKibbin also mentioned – that “by leveraging the annual gift tax exclusion, all of the loan or a portion of the payment can be forgiven.” He added – “And per year per family member should have the ability to forgive up to $16,000 in 2022. Besides, the ability to forgive the loan is up to $32,000 a year for married couples. Or if your spouse also chooses to give the $16,000 maximum amount per person, that’s a grand total of $64,000 that can be used to help purchase a home.”

Thus, it is very crucial for the intra-family loan to have proper documents to avoid any kind of tax or legal issues. For example, McKibbin says, to draft a promissory note, you should work with an attorney. Also, make sure you received the income report of your tax return so that you don’t need to run afoul of the IRS.

Another option is co-signing a mortgage loan is an option for parents who want to help children. This can improve the chances of being approved and their strength; remember this. Moreover, this option creates risks on the legal responsibility for the home that directly impact the parent’s credit score.

The Impact of Financial Assistance While Estate Planning or Retirement

Most parents have a dream of making a home for their children. But, as a parent, you should ensure the cost doesn’t come at the expense of your retirement planning.

O’Leary says – “You should build your wealth if it is essential for you to be able to offer that assistance which is very crucial. And this will help you plan for the future.”

An Intrafamily gift or loan can be acted as a form of arbitrage, which is pointed out by McKibbin. However, parents are able to help their children by providing financial support at below-market rates. And parents name the money under the child’s name this has a great potential to increase the value.

However, you can consult a financial advisor to determine which plan would be better for your financial situation. So, appoint a date with the advisor to communicate clearly with your financial advisor to protect your family bonding.


Plumbing Installation or Replacement Cost

Installing new plumbing or repiping a whole house might cost anywhere from $2,000 and $15,000. Whether it’s a rough-in or full install, replacing or installing new fixture or small portions of pipe, such as a bathtub, sink, or toilet.

Rough-in plumbing costs $8,000 to $12,000 for new construction or about $4.50 per square foot for a 2,000-square-foot home with two or three bathrooms. Repiping a similar-sized property costs $3,100 to $5,500, or $0.40 to $2.00 per linear foot.

The Cost of Plumbing a New House

The average cost of plumbing a new 2,000 square foot home with 2 or 3 baths is $8,000 to $12,000. The type of materials used, the number of bathroom and plumbing fixtures, the distance between the bathrooms, and the number of stories the house has all influenced the cost of installing new plumbing.

Obtain free estimates from top-rated plumbing companies in your area to get an exact price quote for your new plumbing installation.


Cost of Plumbing per Square Foot

When determining the plumbing cost in new construction, the average cost per square foot is $4.50. This is merely a rough estimate; variables like the cost of fixtures and plumbing supplies can substantially alter the cost of plumbing.


Residential vs. commercial

Commercial plumbing rough-in costs for new construction typically vary from $4 to $6 per square foot. On the other hand, commercial fixtures can be quite expensive because of their heavy-duty nature. They must be able to withstand heavy public use. The scale and intricacy of commercial and residential plumbing differ.

  • A plumber may install 2–3 toilets and sinks in a new home, whereas a plumber may install 25–50 toilets and sinks in a new commercial building.
  • The building codes for commercial buildings differ significantly from residential buildings.


When Should You Repair Your Plumbing?

Examine the exposed pipes in your attic, basement, and utility spaces to see whether they need to be repaired. Call a plumber to check the condition if you notice any signs of corrosion, such as discolouration or dimpling.

Water leaks can also be used to gauge the state of your plumbing. Find your water metre and make a note of the reading. Before checking the metre again, wait two hours and ensure that no water is used at your home during that period. If the readings don’t match, you’ve got a leak someplace.


Plumbing Installation Planning

If you’re working on a new home, the only thing you’ll have to worry about is the cost of plumbing. If you’re replumbing your own home, there’s more to consider than just the cost of the plumbing job. You’ll need to plan for the task and how it will affect your daily life.

If the entire house is being renovated, you will be living in a construction zone for a while. Your plumber will do everything necessary to keep the disruption minimal, but noise, holes in the walls, dust, and debris are nearly unavoidable. Moving valuables and gadgets, as well as covering furniture, might help you prepare for the endeavour.


Existing Plumbing Pipes Removal Cost

Existing plumbing in an older home might cost anywhere from $1,000 to $5,000. Rather than being classified as a separate expenditure, it’s usually included in the cost of repiping a home.

To replace the plumbing throughout a complete house, it’s a “remove as you go” type of repair, so it’s not something you can do yourself to save money.

The size of the house determines the price, the number of bathrooms, and the number of plumbing fixture—laundry room, mudroom, and so on. Repairing the drywall cut to gain access to the plumbing will cost $500 or more.

Costs of Installing or Replacing Plumbing

Several factors influence the cost of installing or replacing plumbing in your home. The size of your home, the number of plumbing fixtures you have, the position of your existing pipes, and the cost of supplies are the most important factors to consider.

·         Size of the Home

Because two-story homes require more material to reach bathrooms and other plumbing fixture on the upper floor, single-story homes cost less to repipe.


·         Plumbing Fixtures in Number

Each fixture or appliance that requires plumbing in your home adds to the overall cost of new pipe installation. Sinks, toilets, showers and tubs, water heaters, and washing machines are plumbing fixtures. You’ll pay more if you have more fixtures.


·         The Pipes’ Location

Because of access constraints, the position of your plumbing pipes impacts the overall cost of the project. Pipes behind drywall are easy to reach, while pipes in crawl spaces or concrete are more difficult to reach.


·         Materials Costs

Materials costs are directly affected by the type of plumbing you select and the piping diameter you want. Copper piping is more expensive than CPVC piping because larger-diameter pipes require more raw materials during production than smaller-diameter pipes.

Millionaires and Politicians Constantly Urging Kids To Be Plumbers

Students around the country are beginning to question whether an advanced degree is worth it as the expense of education has progressively increased over the last several decades.

While the evidence demonstrates that obtaining a college diploma leads to higher lifetime incomes and reduced unemployment rates, prominent business leaders have openly advocated for a different option: trade school. “The truth is that there are several trade schools that can help you make a lot more money.”

“A plumber makes a lot of money.” Even in a downturn, everyone needs a plumber, he argues. “Every building on Earth desires to have running power and plumbing… These are professions that can help you provide for your family indefinitely.”


How to Become a Plumber

Many plumbers have engineering credentials, and the wealthiest plumbers are more correctly classified as company owners who, after working as plumbers for several years, created their own companies that employ multiple plumbers.

Importantly, the cost and quality of trade schools vary widely, affecting the amount of return on investment in a trade school. Many public institutions offer cheap options with low costs that are difficult to beat, whereas for-profit programmes can frequently be more expensive than traditional colleges.

For example, tuition and fees for Apex Technical School’s 30-week undergraduate certificate programme in plumbing and pipefitting are $17,816 plus $590 for books and materials. According to the New York-based programme website, students graduate with an average debt of $11,150 and make monthly loan payments of roughly $115 with a 4.45 per cent interest rate.


A Plumbing Technician’s Process

Many plumbers have system experience, and the wealthiest plumbers are sometimes more accurately classified as advertisers who, after working as plumbers for many years, start their businesses that employ other plumbers.

Significantly, there is a wide range in the cost and quality of trading colleges, affecting how much the fresh new go back to the investment in exchange university scan frequently cost more than traditional universities, even though many public universities offer a reasonable selection with reduced costs.

For example, Top Tech School’s 30-day undergraduate certification programme in plumbing and pipefitting would set you back $17,816 in tuition and fees and $590 in courses and supplies. According to the website of the new York-based programme, one to students who have $11,150 in debt and pay monthly loan fees of roughly $115 per month with interest rates as low as 4.45 per cent.


Job Prospects in the Plumbing Industry

All home service professionals were affected by the epidemic. Many tradespeople could not enter households safely or consistently due to social distancing regulations, stay-at-home orders, and economic instability.

Despite these challenges, the plumbing sector has continued to thrive. Many plumbers could handle the pandemic successfully and earn an average annual salary of $50,000.


·         Expanding Your Plumbing Company

Even though the research indicates that many plumbing jobs will become available in the next years, the employment market will likely grow more competitive. Just around half of all plumbers work for more than two years.

With such a high turnover rate, younger plumbers trying to start a business or master plumbers looking to expand an established one need all the help they can get.

As the plumbing market gets increasingly saturated, strong field service management software will become a crucial tool for running a profitable plumbing business—and rising above the competition.

This type of software allows plumbers to plan new projects, dispatch their teams, and manage their finances with ease and speed unmatched by pen and paper.


·         The Millionaire Plumber Rob

Rob is a real Housecall Pro customer who exemplifies how lucrative a plumbing career can be. Rob, the owner and operator of Good Guy Plumbing in Torrance, California, knew he wanted to be an entrepreneur since he was a child.

He confesses that he “couldn’t do that working for someone” because he “thinks of a million different concepts and has a vision for something great.”

Rob has always had a knack for running a business. While in college, Rob and his father owned and operated a car dealership, which exposed him to the world of entrepreneurship.

Rob’s father suggested he explore the plumbing industry after graduating from the University of Southern California with a degree in Business Administration.

“After considerable consideration and genuinely studying the industry,” Rob admits, “I felt there was a tremendous possibility if I sold it effectively.” He learnt the technical aspect of the trade from his father, a plumber, and studied the marketing and operations of other businesses in his neighbourhood.

Renovating and Repairing a House

Professional labour can be one of the most expensive aspects of a homeowner’s budget for maintenance and repairs. While many people will save money by doing much of the work themselves, not everyone has the expertise to repair their own homes, even with the help of internet instructional videos.

Attempting any DIY project without thorough planning and understanding of the task at hand could cost much above the cost of hiring a contractor. Even if you have the necessary skills and experience, you must factor in the time, supplies, tools, and permits for your home renovation project.


Leaky Kitchen or Bath Pipe Repair

Tightening a slip-nut at the P-Trap could be a simple DIY remedy for a drain pipe. If the leak is coming from such a drainpipe inside the wall, consider hiring a professional, suggests Don Glovan, a franchise director with Mr Rooter Plumbing.


Wallpaper Hanging

Hanging wallpaper is difficult because it must be straight on the wall, and the designs must be perfectly aligned. It usually takes two individuals to do the task. Bubbles can occur, necessitating the removal of a strip of paper and installing a new strip.

This can lead to a shortage of wallpaper and the need to order more. While only you can decide if the DIY savings exceed the dangers, Tina Nokes, owner of 5-star Painting of Loudoun, VA, argues that employing pros guarantees a smooth & predictable conclusion.



Caulk is the rubbery substance that goes between your tub, shower, sink, or between the outer rim of your toilet and the floor. It forms a seal that keeps moisture out of the floors and walls. It also adheres to itself, making application a simple one-step operation.

Caulk can discolour or decay over time, exposing your property to water damage and mould growth. The most difficult component of applying caulk is getting rid of the residue left behind by the old caulk.

Proper preparation is essential because the new bead will not stick unless the old caulk is removed. Caulk had to be removed with a razor scraper in the old days, and it took a long time to get it all off. Several commercially available products soften old caulk & make it easier to remove.


Faucet Washer Repair

One of the most typical household repairs is repairing a leaky faucet. It may be a minor issue, but all those drops add up. According to the Department Of Environment (EPA), the average home wastes roughly 11,000 gallons (42 kiloliters) of water each year due to various leaks and drips, according to the Department Of Environment (EPA).

Aside from the fact that there’s enough wet stuff to fill a paddling pool, it’s also money that could be put to greater use. Depending on the type of faucet you have, stopping a leaky faucet without professional help can be straightforward.

Begin by turning off the water supply to the faucet. A shutdown valve is normally located nearby. If not, you may always cut off the water towards the entire house briefly and then turn it back on later. A basement or laundry room is frequently where the house shutoff is located.


Foundation Repair

Don’t forget about the roof while defending your foundation from water damage. It, like the foundation, is prone to leaks, rot, and other problems. You can replace lost shingle and spot leak for a few hundred dollar, but if the damage is too significant — or dangerous — you may need to replace the entire roof.

This might cost anywhere from $3,000 to $12,000, not including removing the old fibreglass batts and repairing any internal damage. Again, the key to preventing costly roof repairs is preventive and regular maintenance. At least twice a year, take a close look at your roof, perhaps while you’re over there cleaning the gutters.

Examine the roof for missing shingles, rips, and other signs of damage. Keep an eye on the flashing around the chimney and exhaust vents.


Siding Repair

I often wonder if erecting a massive retractable umbrella over an entire house would be less expensive than living with the constant possibility of water damage.

If your house is partially or completely covered in wood, aluminium, or vinyl siding, water can seep in via broken areas, causing decay, insect infestations, and interior damage.

Individual panels of siding may normally be repaired for a few hundred dollars, but a complete replacement of your entire square footage might cost upwards of $10,000.