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Reply to "Is buying a house in your kids college town a wise investment?"
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[quote=Anonymous]My sister and I attended the same university as my parents, about 2 hours from where my parents currently live. My dad bought a house in the college town and my sister and I lived in it (never together, but with a 2 year gap in-between). It was a 3 bedroom, 2 bath so it accommodated my roommates well. They have had no trouble renting it out since none of us have needed it since. They are intending to retire to the house in the next 5 years. For them, it's been a great investment. By the time they move in, they will have 15 years of mortgage payments made, and none of them paid for by themselves. They will be able to pay off the home in one lump sum when they sell their current house and move in. It's a perfect situation. You may or may not have great luck doing the same. [/quote]
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