Buying a Home For College Bound Children

Parents Purchasing Homes for College Bound Children on the Rise!

With property values increasing as they are, it makes sense that more and more parents are buying properties for there children to live in rather than pay for dormitory housing or apartments. Savvy parents see the investment as an ideal situation to offset some of the costs of college life.

Here are some items to think about:

• Consider the location of the property to the campus

• Extra rooms can be rented to share expenses

• Possible tax advantages

• Possible lower monthly housing costs

• Put the loan in the child's name and tap into first time homebuyers assistance programs

• Build equity instead of rental receipts