What’s more beneficial?

My parents are purchasing a second home. I’m in my twenties, still living with my parents. Should my parents have my name on the new home alongside their names or leave me out entirely? Concerns being: would I still be able to benefit from first time homebuyer benefits in the future?

My parents initially had my name on the house with them because they wanted to avoid paying taxes in the future, should they transfer the home to me as the owner.

So which would be better? Leave my name out entirely or have my name on there with them? Sorry for not knowing specific real estate jargon! Thanks in advance!

Additional info: – My parents already got their conditional loan approved. – We’re in Texas.

submitted by /u/timelesstiger8
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My parents are purchasing a second home. I’m in my twenties, still living with my parents. Should my parents have my name on the new home alongside their names or leave me out entirely? Concerns being: would I still be able to benefit from first time homebuyer benefits in the future? My parents initially had my name on the house with them because they wanted to avoid paying taxes in the future, should they transfer the home to me as the owner. So which would be better? Leave my name out entirely or have my name on there with them? Sorry for not knowing specific real estate jargon! Thanks in advance! Additional info: – My parents already got their conditional loan approved. – We’re in Texas. submitted by /u/timelesstiger8 [link] [comments]

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