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College and University Discussion
Reply to "Buying a house for college housing"
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[quote=Anonymous][quote=Anonymous]Lots of costs to consider: (1) opportunity cost of money invested in down payment that could be invested elsewhere (2) monthly mortgage + utilities (3) property taxes (4) maintenance and repair (5) cost of any months not occupied (summer) or subletting hassles/damages (6) Selling costs (broker fee, etc) And finally the (not so subtle) pressure on your younger child to attend that is evident from your post. [/quote] This. Add to this it’s not in your home town and assuming you don’t want your kids to be landlords, you might have to hire someone to manage the property if they’ll have roommates. I wouldn’t buy real estate expecting to flip in 5 years. [/quote]
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