Should I sell my home to help my three children buy a house?

April 1, 2026 — 5:01am

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I am 74, single, and still have a mortgage after raising four children. I have approximately $1 million in equity in my home. One of my children already owns a home and is financially secure, but the other three need help following broken marriages. They each have some super and savings and earn good incomes, but housing where they live is becoming unaffordable. Is there a sensible way for me to help them get into the housing market while I am still alive?

Tread carefully – you are relatively young and may have 20 more years to live, and you do not want to put yourself into a position where you are unable to fund your aged care costs in your 90s.

I don’t see a reverse mortgage as a viable option so the only practical way to raise significant funds would be to sell the house, which would involve considerable buying and selling costs, including stamp duty, then pay off your mortgage and give some of the proceeds to your children.

Even if you did this, I doubt the money you could give them would make much difference when spread across four people, and it would also mean moving to accommodation that........

© The Sydney Morning Herald