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Investing in homes for your college age kids

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Real Estate Agent with Taking a break

Investing in homes for college-age kids


There is a new trend  for parents of kids bound for college. WE are seeing the cost of dormitories, fraternity or sorority houses or off-campus housing reaching between $800-$1000 a month now in many areas.Investment property  is a nice solution instead of throwing money away on four years of your childs housing. Many parents are now considering the purchase of condominiums or house near the college for their children to live in while attending college. Roommates can be recruited to help offset the cost, and parents can write off mortgage interest costs, which can provide a wonderful tax benefit. By the time graduation rolls around, parents can sell the investment for a profit or keep it as part of their real estate portfolio for their later years. Talk to you tax advisor for information on how much you can write off. A wonderful Idea for those that like to think outside the box.

Interested in Investments? Call me at 503-960-4589 and I can answer your questions.

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Peter Andres - Lic. in FL & NY GRI,SRES,CNE
REALTOR - The Villages, FL
I did it twice. My daughter went to college in Pensylvania. Getting the local newspapers I got to know the house values and found a fsbo that sold it for cash plus an assumable mortgage. I did exactly the same for my son in New Jersey. With the rented rooms in both houses there was positive cash flow and by the time they graduated in 02 and 03, the appreciation made me very happy. Unfortunately, the kids didn't take after me and are following their own career choices; maybe when they get a little older or wiser?
Aug 25, 2006 04:33 PM
Timothy Butterworth
Taking a break - Portland, OR
That is great, I plan to do the same with my children in the future, it just makes sense.
Aug 31, 2006 10:31 AM