The original St. Louis Real Estate Blog, est 2004 with Darin "Sid" Cameron, CRS.
Understand the St. Louis housing and real estate market better. Sid is a licensed real estate broker in Missouri.
The St Louis Agent Team of RE/MAX Properties West
 | For Agents | Forum | Bookmark Site
Subscribe to RSS Feeds - Click Here!
Bookmark and Share
Chat with an Agent!
Real estate questions?
Want to see a home?
 Click for Live Chat or
Call: (314) 598-4040
 Email this Article! Email this article d Discuss this article d Printer friendly page with resizable text
 Buying a Home for a College Student vs Paying Room and Board
By: Darin "Sid" Cameron, CRS
Sun, May 8th, 2005 11:56 pm

Happy Mother's Day everyone!

If you're a mom (or dad) with a child about to head off to college, I just stumbled on this interesting article from Realty Times discussing the pros and cons of buying a home/rental property in the college town for your child to live in verses paying room and board to the college.

The idea can be a solid one (I had a friend who did just this actually). Instead of paying thousands of dollars to the college for housing, you take your money and put it into a mortgage on a home or condo. When your child leaves school, you have the ability to get some of your money back on the sale of the property. Plus, if you bring in additional renters, you might even offset some (or all) of the costs of college. The article is titled, "College Housing Investing: Room And Board Is A Terrible Thing to Waste," by M. Anthony Carr. It can be found at: http://realtytimes.com/rtcpages/20050506_roomandboard.htm

Overall, I think it's a great article, but the one point I think the author forgot is that buying a property for your child might be a better decision on the 2nd or 3rd year instead of the 1st. Although you “loose” a year’s housing expenses and the home equity you might have built, college students are more prone to drop out or transfer early on in their career. It could be a real worse case scenario to buy a home “Junior” only lives in for one semester and then you are forced to deal with a remote rental property.

Let me know if you find this information useful.

[ Next Article: House Bill 174 and Discount Real Estate Brokers, Part 1 ]
[ Previous Article: Interest Rate Update ]


Search this Blog:


Darin 'Sid' Cameron, CRS

Contact Me on Facebook!

 Contact me on LinkedIn!

Follow me on Twitter!
Darin "Sid" Cameron spent 15 years working in the technology industry which in 1998 relocated him to St. Louis. In 2004 he took over web development tasks for Kimberly's real estate team and later became the full-time Marketing and Operations Director in 2005. In 2011 Sid launched two brokerages, The Realty Store, Inc. and Realty Referral Partners, Inc, while continuing to perform marketing and operations for Kimberly's team. Sid holds a real estate broker's license in Missouri, CRS certification and was the first CyberStar in the St. Louis area.
Certified Residential SpecialistCyberStar!
Follow me on Active Rain!


All Blog Articles XML/RSS

Add to My Yahoo!


All Categories
 News  Things to Do  Real Estate Trends  Misc Stuff  Selling a Home  Calendar of Events  Home Repair  Buying a Home  Interest Rates and Financing  Investment Real Estate  Credit Reports and Safety  Our Website and Services  Government and Legislation  Internet Resources  Living in St. Louis  Home Improvement  St Louis Housing Market  Real Estate Statistics  Home Safety  Blogging In General

RE/MAX Properties West
Kimberly Cameron, Team Leader
RE/MAX Properties West Direct: 314 598-4040
16497 Clayton Road Office: 636 532-5900
St. Louis, MO 63011 Fax: 800 573-1985
Email Us Here! Toll Free: 800 573-5276
Equal Housing Opportunity
The St. Louis Agent Team of RE/MAX Properties West
     
 
Realtor