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College and University Discussion
Reply to "FA Question: Inherited house, now worth $1M, now what? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You could sell the million dollar house, move into a 200k apartment, and use the 800k profit for college expenses. [/quote] +1 More like sell the house and buy a 4-700k house. Your income can't support a million dollar house maintenance, taxes and utilities.[/quote] Oh please. It's not like the OP has a drafty ballroom to heat and acres of formal gardens to keep up. Some areas have just appreciated disproportionately. They have 3 more children in the public schools, so it's not likely that they can move and stay in their school district. I agree with the advice to apply to schools that don't look at home equity as well as those who might want to woo your kids. We're saving what we can, but our kids know we're not going to sell the house to put them through college![/quote]
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