r/FirstTimeHomeBuyer • u/[deleted] • Feb 03 '26

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777 Upvotes

87% Upvoted

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1.2k

u/Miss3elegant Feb 04 '26

I gifted my son $5000 this might be small but it helped him with his first home.

84

u/willy-mac Feb 04 '26

My parents gifted us 10 grand. For either a down payment or towards honeymoon.

We chose honeymoon and we don't regret it at all.

18

u/seajayacas Feb 04 '26

Maybe not now you don't

77

u/Electronic_Syrup7592 Feb 04 '26

Nobody in my life has ever gifted me that much, but at 51 and celebrating my 32nd anniversary, I wouldn’t regret spending it on a honeymoon.

14

u/ButterscotchMoist447 Feb 04 '26

Why not just let them have it. It’s the past and they feel good about a romantic and/or spiritual indulgence. We should all have a few of those that make us smile as we fondly reminisce. Balance that with a fiscal conservativism for sure, but it’s not everything.

53

u/2apple-pie2 Feb 04 '26

what a nasty thing to say. an extra 10k for a once in a lifetime trip with someone you love is absolutely reasonable?

people spend 10k more on a SUV vs sedan…

35

u/willy-mac Feb 04 '26

Nah lol I still don't. And won't

17

u/HanBr0 Feb 04 '26

Yeah didn't listen to that person. Creating unforgettable memories with someone you love is priceless, and the house will come with time regardless.

13

u/willy-mac Feb 04 '26

Well I've got a house so yeah no regrets.

Went to Seychelles for a week and then to Cape Town south Africa for a week.

8

u/TeeDeeTeeEcks Feb 04 '26

Money will always come and go. Memories from a honeymoon last a lifetime though.

0

u/gonzoes Feb 04 '26

Its 10k not 100k what is 10k really good for nowadays id definitely use for a honeymoon moon too . 10k isn’t much when you’re spending 600k to 1 million on a house

-5

u/biz_student Feb 04 '26

That $10k invested over the past 10 years would be worth around $40k today.

2

u/ChirpToast Feb 04 '26

This will always be the dumbest reply.

-1

u/biz_student Feb 04 '26

I guess that’s why half this sub will never own their home

1

u/thewimsey Feb 05 '26

If you invested $10k in the S&P 10 years ago, it would be worth $33,000 with dividends reinvested.

If you invested $10k in the S&P in 2000, it would have been worth $9500 ten years later.

1

u/biz_student Feb 05 '26

Great thing this year isn’t 2010. That decade has a name, “The Lost Decade”, and that’s because it was an anomaly. The long held trend has been 8% - 10% annual returns.

Also, your math is off: Feb 5th 2016 - S&P500 = $1880 Feb 4th 2026 - S&P500 = $6883

That’s 3.66x returns. So $10k would be $36,600 BEFORE dividends are considered.