This past year was one of incredible frustration for young families who feel trapped in their rental units and seek to buy a first home. But there’s hope for those with parents willing and able to pitch in with down payment help.

Parents are more likely to provide financial help when it benefits both their children and grandchildren, says Daryl Fairweather, chief economist at Redfin, the national real estate brokerage.

She says it makes sense that seniors are more likely to help kids pay for housing when doing so also provides their grandchildren with a place they believe to be safe and secure.

Redfin recently commissioned a survey of more than 1,800 recent homebuyers. It found that buyers with kids were twice as likely to have received a cash gift from family to help fund their down payment compared with those who didn’t have kids when they bought their place. Indeed, one-quarter of recent buyers with kids received a cash gift from family to help with their down payment.

The survey also underscores the reality that more home purchases are made with multigenerational lifestyles in mind.

“Monthly costs are so high these days that I’m trying to find big homes for a lot of multigenerational families,” says Julie Zubiate, a Redfin agent based in the San Francisco Bay Area.

Patrick Harwood, a Compass agent who sells homes in the Washington, D.C., suburbs, says that parents are more likely to provide down payment help to offspring struggling to buy in an expensive area, such as his own market.

“People here have high incomes but not necessarily enough cash for the big down payments required to make a purchase,” Harwood says. He estimates that up to 35% of buyers in his area receive a financial gift from parents.

Here are a few pointers for families pursuing a first purchase:

-- Ask directly for parental help.

Surprisingly few parents of grown children know about the financial status of their kids, including the size of their salaries and savings accounts.

“If you want homebuying help from your folks, you have to be upfront and ask. You don’t want to tinker around the edges,” Harwood says.

Many parents in the boomer-age cohort, born between 1946 and 1964, have made plans for their children’s inheritance. It may not occur to them that their kids could benefit more from their largesse now rather than in the future.

“Your parents know that high home prices and steep mortgage rates are big impediments for you to move forward. Even if they haven’t bought a home themselves for years, they may be more sympathetic with your generation than you imagine. But you must be straightforward with them,” Harwood says.

-- Reconsider plans to acquire a property with a huge lot.

The pandemic strengthened the dream of many families for a large yard that would accommodate outdoor living. It also increased the hope of living on grounds big enough for a sizable garden.

But Judy Luna, an Arkansas-based agent, says most young families maintain such hectic schedules that keeping up a large yard involves more upkeep than they can reasonably handle.

“Actually, you’re better off living near a park with a playground rather than having a very large property of your own,” says Luna, who sells homes through the Keller Williams chain.

-- Select a setting with calm streets where kids can play safely.

One factor some buyers overlook when selecting a child-friendly community is the level of traffic coming through the area.

“You won’t want to live in a heavily traveled neighborhood or on a main road,” Luna says. As she observes, a road with a lot of traffic brings noise and fumes into your habitat. It can also pose obvious risks to the safety of your children.

Ideally, you’ll choose a property that’s located on a quiet cul-de-sac or a dead-end road. But if that’s unavailable, Luna says you’ll at least want to position yourself on a calm street with relatively little through traffic.

Making sure children are protected from road hazards is of prime importance for families with toddlers and very young children. But it’s also vital for older kids who enjoy riding bikes and playing ball on neighborhood streets.

-- Prioritize quality schools over child-oriented recreational venues.

Luna says families shouldn’t base their move on the basis of proximity to community amenities such as roller rinks or miniature golf centers. That’s because most communities offer enough in the way of recreation to keep kids happy.

“It’s ideal -- but not necessary--to have a neighborhood swimming pool the kids can use when weather is right. But you don’t need a lot of other major attractions,” Luna says.

Given the increasingly high cost of private schooling, most parents already place a premium on a neighborhood where the public schools are extremely well-rated. That’s warranted not only from the point of view of the children’s well-being but also from an investment standpoint, says Eric Tyson, co-author of “Home Buying for Dummies.”

“People who buy in neighborhoods with well-regarded schools pay more when they make their initial home purchase. But in the long run, their property always holds its value better than a place with mediocre schools,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

An Idaho couple in their early 30s -- a nurse married to an attorney -- are anxious to sell the tiny two-bedroom rambler they bought before the pandemic. Given their salary increases, they now aspire to own a brand-new place with an upscale kitchen and a larger bedroom for their 6-year-old daughter. They also crave a spacious home office.

“Our place is so small that we call it our ‘mouse house.’ We waited and waited for lower mortgage rates. But we’re waiting no longer. We’re actively looking for our next house, and we want to move on as early as possible. Still, our first step must be to sell our current house,” the nurse says.

Maya Hyman, an agent for the Compass realty brokerage, doesn’t know the couple in this true story. But she cautions that in the immediate future, sellers could potentially face more headwinds.

“Right now, the overall market is sluggish,” Hyman says.

One issue is that sellers have relatively less bargaining power than they did during the pandemic, when available listings were exceedingly scarce and housing demand greatly exceeded available supply in many neighborhoods.

Lately, the supply-and-demand balance is gradually shifting toward buyers, given that the number of available listings is steadily increasing, says Jiayi Xu, an economist for Realtor.com, the home listing service. She notes that the inventory of for-sale homes has increased more than 23% since last year.

Lauren Davis, an agent with the Sotheby’s realty company, encourages wannabe sellers to avoid arrogance when they decide on a listing price.

“It can be a good idea to price your place aggressively, maybe even to 10% below its current market value. Because buyers are now very sharp on property values, your house is likely to attract more interest if it is priced realistically, prompting more bidders to come around,” she says.

Here are a few pointers for wintertime home sellers:

-- Don’t discount the winter months for your home sale.

Maybe you regret missing the traditional high point of the home-selling season, which runs from spring through early summer. You might think your house could have yielded you more money then, when more prospects were out looking.

But the factors that most influence markets are less seasonal than in previous years, says Ronald Phipps, a former president of the National Association of Realtors (nar.realtor). A well-priced house in good condition that’s located in a popular community should sell well at any time of the year.

“The date when you sell is less critical than the price and the ratio of supply to demand in your neighborhood,” Phipps says.

No matter when you put your place on the market, he urges you to avoid the most common home-selling pitfall: pricing based on wishful thinking.

“Buyers are more prepared, more informed and more self-disciplined than ever. You can’t fool them into spending more than your house is worth,” says Phipps, who heads a family-owned realty firm in Rhode Island.

Granted, there are fewer would-be buyers looking for property during the winter months. But he says those searching during this period are mostly serious buyers who need to move due to a job change or another compelling reason.

-- Know that your kids will likely adjust well to a midyear school change.

Many parents hold back on selling their home during the winter months because they fear their kids will have a hard time making a midyear switch to a new school.

But William Bainbridge, an academic expert on school choice, says students who make a midyear change often fare better than those who do so in the fall.

One reason is that midyear switchers are typically showered with attention from teachers and classmates. In contrast, those who start a new school in the fall typically receive less academic and social support.

However, he advises the parents of high school students to check in with the new school to make sure their credits will transfer. This is especially important for students taking challenging precollege classes, including Advanced Placement (AP) courses.

-- Retain your seasonal decor for wintertime home showings.

Real estate agents typically tell home sellers to “neutralize” their properties to make them more appealing to a wide range of buyers. That means repainting boldly colored walls in a light tone and removing personal items like family photos or a collection of bowling trophies.

But Phipps says owners who happen to have showings during the winter holiday season don’t need to take down their seasonal decor before prospective buyers come through.

“Actually, seasonal wreaths and other generic holiday decorations give buyers a warmer, more comforting and embracing feeling when they walk into your house,” he says.

-- Realize there’s room for confidence about near-term home sales.

Given the economic uncertainties related to the new administration in Washington, some would-be home sellers have felt nervous about a near-term sale. But Rafael Corrales, a Miami-based agent for Redfin, says seller optimism is finally warranted.

“The market was stagnant in the months leading up to the election, but within 48 hours of the results being announced, I was getting more home-tour requests. We definitely saw an uptick in demand on the buyside, but less so with listings,” Corrales says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A married couple in their mid-60s own a classic all-stone Georgian house in a desirable suburb of Philadelphia.

The property has skyrocketed in value. But as they contemplate retirement, the pair feel ambivalent about whether to renovate in order to age in place or sell the house.

“This is a big, emotional decision. We’ve been here more than 30 years. To say we love the place is an understatement. The truth is, we really want to stay here for big family gatherings and to take our last breath here,” says the husband.

Yet keeping the house indefinitely has huge downsides. Though the 3,500-square-foot place has five bedrooms and an equal number of bathrooms, all are on the second and third floors. What’s more, the laundry is in the basement.

“Stairs are very problematic for me. I’ve had one knee replacement already and expect to need another one soon,” the husband says.

What would it take to make the house suitable for an elderly couple? At the minimum, they would need a first-floor bedroom with a walk-in shower and grab bars. This first-floor suite could incorporate a washer-dryer combination.

To determine the feasibility of this addition, the couple has already hired an architect, paying him $11,000 for construction-ready plans. The architect estimates that in their high-cost area, the cost of building the 500-square-foot addition would be at least $250,000.

This cost estimate so shocked the couple that they put their expansion plans on hold.

“Meanwhile, we’ve been touring retirement communities. They’re also expensive, but offer the advantage of one-level living with sociability and group activities. Frankly, we don’t know whether to move or improve,” the husband says.

Patrick Harwood, a longtime real estate agent with Compass, a large real estate brokerage, doesn’t know the couple in this true story. But he says there’s no one right answer for owners comparing various post-retirement housing options.

“Some of my clients have renovated their houses only to reverse their plans and move to Florida or Arizona for better weather. Some pick a destination near grandchildren. Others stay put because of the comfort of their current home. Still another segment is weighing an international move,” Harwood says.

Here are a few pointers for those considering post-retirement scenarios:

-- Look for a location that feels right to you for positive reasons.

As they approach retirement, many people focus solely on the annoyances and aggravations they’ll escape once they’re liberated from their job. But others wish to reinvent their lives in an exotic location and should research their options before they move.

“Give yourself permission to explore all the possibilities that interest you before making a decision,” says Lin Schreiber, a certified life coach who specializes in retirement.

-- Think twice before moving to a place with a strong homeowners association.

Schreiber thought she wanted to live in a new custom-home community surrounding a man-made lake. She bought a “dream house” there and assumed she’d stay there for the rest of her life.

But after just three years, she was so rattled by the strong neighborhood association that she sold the property and moved to a less fancy part of town, buying a modest townhouse with friendly and easygoing neighbors.

Looking back on that experience, Schreiber wishes she had investigated further before buying into the lakeside community, where neighborhood leaders proved bothersome and intrusive.

“People there were always quibbling over small disputes about the appearance and operation of the community,” she recalls.

Though she allows that some people appreciate a strict neighborhood association that can help protect their property values, she says others find life in such a community unpleasant.

Schreiber urges those making a major housing transition to ask questions about the internal culture of a community before they buy a home there -- to ensure that it’s in accord with the lifestyle they have in mind.

-- Don’t let grown children make decisions for you.

Lots of seniors approaching retirement have children in their 20s, 30s or older. They vary widely on the role they would like their children to play in the next phase of their life.

Those who want their adult offspring to play a major role in their lives are likely to be happier moving to a property with enough bedrooms to accommodate family during overnight visits. But those who wish to discourage family members from lengthy stays -- or from moving back home -- might prefer a small condo with just one or two bedrooms.

-- Give yourself plenty of purging time before you downsize.

It’s rare for owners who’ve lived in a property for many years to approach retirement without a house full of material possessions, says Eric Tyson, a financial writer and author of “Personal Finance for Dummies.”

The problem is that to successfully sell their property and fit into a smaller place, nearly everyone must cull through their possession, reducing the overall quantity. This is a process that can take weeks -- or even months -- to accomplish.

“Trying to let go of a house jammed with too much furniture and knickknacks is the kiss of doom for people who want to maximize the proceeds from a house they’re selling,” Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)