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Is Your Child Going Away To College?
Have you considered a purchase instead of renting for four+ years?
This is not a new trend but many parents are not taking advantage of the current market. Rents for apartments and homes have gone up while at the same time real estate prices have come down.
If your budget permits, I would like to suggest a way to provide a place for your child to live while in school and position yourself in a market that is more attractive for buyers at this time.  
Let’s take a look at renting a one bedroom apartment in a college town. This can be in the neighborhood of $1,000. per month. Multiply that X12 and you have $12,000. per year in expense with no ownership or tax benefits for yourself. By the way, that adds up to $48,000. over a four year period. This could very well go up over the next few years.
Purchasing an investment property could be a very nice solution instead of throwing money away on 4-5 years of your child’s housing with no return at the end. Consider the purchase of condo or house close to your son or daughter’s school. Recruit a roommate to help offset the ... more

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