Even when the economy is really tough, the cost of going to college is on the rise. Not only has tuition become wildly expensive, room and board have increased in cost immensely. Over the past four years, room and board by themselves can cost anywhere from $8,000 to $10,000. Due to this reason alone, parents have rethought their ideas of having a kid live on campus and opt to buy cheap homes near college.
It is frequently quite easy to locate affordable housing near a campus that can be bought and lived in as opposed to campus housing. Rather than waste a lot of money on room and board, you can always take advantage of a number of the benefits of buying a home for your college student. Look at the pros in buying a place:
First advantage: You Might Very Well Be Able to Save Money And Even Make It
Likely the most important benefit would be that when cheap homes are bought for college students, you will possibly be able to save and earn a ton of money. The market for real estate have begun to rebound slowly over time which makes the purchase of a home or condo a great investment. You will learn that mortgages are a lot less expensive than what you might have to pay for room and board so this alone presents a major cost savings. There are also a significant number of tax advantages associated with making the purchase of a home for the student. When your child is not residing in the home, you have the ability to rent it out and those living near the college may wish to rent it or even purchase it outright.
Second advantage: Your College Student Attains Greater Living Stability
You'll also find that buying a home for your college student to live in offers the benefit of better stability. They'll have that home to go back to each year they are in college, so they won't constantly be looking for new housing. You can also choose a stable area to invest in so they have a housing situation that fits their unique needs.
Third advantage: Your Child Will Gain Access to Valuable Life Lessons
Never lose sight of the potential to teach a young one important life's lessons through the purchase of cheap homes. A child will end up with a number of more responsibilities when they live away from campus which can lead to learning how to better cope with life later on. Teaching them a little about investing in real estate and learning how to better care for a home based on their experiences.
The prime news here is that it has become a lot easier to find cheap homes that are near the location of the campus. One resource that is a must to check out would be RealtyStore.com. This database is truly excellent and offers many listings of low cost homes along lines of foreclosures and affordable housing all of which are right near the college your child is attending.
It is frequently quite easy to locate affordable housing near a campus that can be bought and lived in as opposed to campus housing. Rather than waste a lot of money on room and board, you can always take advantage of a number of the benefits of buying a home for your college student. Look at the pros in buying a place:
First advantage: You Might Very Well Be Able to Save Money And Even Make It
Likely the most important benefit would be that when cheap homes are bought for college students, you will possibly be able to save and earn a ton of money. The market for real estate have begun to rebound slowly over time which makes the purchase of a home or condo a great investment. You will learn that mortgages are a lot less expensive than what you might have to pay for room and board so this alone presents a major cost savings. There are also a significant number of tax advantages associated with making the purchase of a home for the student. When your child is not residing in the home, you have the ability to rent it out and those living near the college may wish to rent it or even purchase it outright.
Second advantage: Your College Student Attains Greater Living Stability
You'll also find that buying a home for your college student to live in offers the benefit of better stability. They'll have that home to go back to each year they are in college, so they won't constantly be looking for new housing. You can also choose a stable area to invest in so they have a housing situation that fits their unique needs.
Third advantage: Your Child Will Gain Access to Valuable Life Lessons
Never lose sight of the potential to teach a young one important life's lessons through the purchase of cheap homes. A child will end up with a number of more responsibilities when they live away from campus which can lead to learning how to better cope with life later on. Teaching them a little about investing in real estate and learning how to better care for a home based on their experiences.
The prime news here is that it has become a lot easier to find cheap homes that are near the location of the campus. One resource that is a must to check out would be RealtyStore.com. This database is truly excellent and offers many listings of low cost homes along lines of foreclosures and affordable housing all of which are right near the college your child is attending.
About the Author:
Buying a home for your student is an excellent way to save on tuition. Find out about buying bank foreclosures, or read this post about buying foreclosures to make them lease option income properties.
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