More parents buying homes for college-bound children
To get a home that works for the student, parents must consider the proximity of the property to campus, access to transportation and monthly maintenance costs. The number of people who'll live in the house or condo and who will manage any leases are important financial factors too. But with the right combination of circumstances, parents can build substantial equity in an attractive real estate market instead of accumulating a stack of rent receipts.
Owning off-campus housing eliminates many of the hassles associated with college living. The space is almost always roomier than a dormitory life which evolves into a 14-foot-by-14-foot dormitory that comes with its own bathroom and, alas, two roommates trying to cram their lives into the same space.
The parent-as-landlord practice is not a new one in San Diego College Communities.
Savvy parents around the country are starting to examine that equation in a different light. As home values continue to spiral and interest rates remain at historically low levels, some moms and pops are buying homes near San Diego campuses for their students, often renting out excess bedrooms to buffer the expense