Preparing for college is an investment in so many ways. It’s never as easy as “sending your kids off to college and waving your hand at the gate.” There are countless factors to consider when it comes to the future of your children. So many questions come to mind right away…How will they pay for food? Are they expected to find a job? Will they live on or off campus?
Today’s trends reflect that parents are getting creative when considering their housing options. Here in the Treasure Valley, it is very common for a college student’s parents to purchase an investment home for their child to live in. The student will be able to easily find roommates who can help make the mortgage payment. It’s a win-win for everyone involved. With rent prices on the rise, as well as home values, nowadays parents have multiple options after their child has graduated. They may find that continuing to rent a home out is more profitable, but having built equity and re-selling purchased property is also an excellent option!
I know a father who taught his daughter the ins-and-outs of being a homeowner while in college. He co-signed with her, but the responsibility of home ownership was always hers to carry. She was able to find roommates who completely covered her monthly mortgage, lived rent-free for the duration of her college education. After four years, she sold the home and was able to net almost $50,000. She had also gained knowledge about the housing market, which is always a valuable skill to carry through life. Starting a career on this note sure is a great first step to success.
You have already made the decision to help your child into adulthood with an education, take it a step further and make it a real estate investment as well! There is no better place to do this, than in Idaho. Our team at Catalyst Group is here to help you scout out the perfect home to make this a reality!
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