Owning the property your student lives in during the school year is a great investment for a number of reasons.
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Now that it’s summer, college students are preparing to go back to school in the upcoming months.
Now that it’s summer, college students are preparing to go back to school in the upcoming months.
While some students may live in dorms, there are actually several benefits to owning the property your college student lives in. One of the primary benefits is stability.
When you own the property your child will be living in during the school year, you can be sure that neither you nor they will be forced to look for a different apartment for them to live in each year.
The price of rent tends to rise; however, ownership means having only fixed housing expenses instead. Owning a property also means not having to pay for a security deposit.
But finances aren’t the only upside to ownership. A property you own will typically include much more storage space for your student and for you. Also, instead of having to constantly move furniture in and out of different apartments each year, owning a property means you can simply leave your student’s items there over the summer rather than shifting them around.
Additionally, ownership is a great investment. There is a chance your property may appreciate. With that in mind as well as the potential tax benefits, owning a property is really an increase in wealth.
Remember that this is a highly personal decision, though, too. Crunch the numbers and make sure they make sense before proceeding with any purchase.
I know from personal experience the feeling of wanting your child to live in a safe, comfortable environment.
I know from personal experience the feeling of wanting your child to live in a safe, comfortable environment.
When I saw what my son would’ve been able to afford on his own when he was looking at places to live during the school year, I simply wasn’t comfortable with the quality of life he would have been experiencing.
So, I took the plunge and it’s worked out great for both of us.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
