Feeling the pain of high rental costs for your kids attending university or college? Rather than paying someone else’s mortgage through high rents for the next few years, it’s worth checking out investment opportunities for purchasing a condo/townhouse for your student. Their friends could rent room(s) to help cover the mortgage.
I have a child who’s a first year university student so I know the costs first hand. I’m also anticipating my second to join her in a few years!
What you spend on rent can instead build equity and security. When your child graduates, the property can be sold to use as a contribution towards the young adult’s first home, or be kept as an ongoing investment.
Options to consider:
- Purchase the property yourself
- Purchase the property with another family/other families (co-ownership arrangements have become common)
- Purchase a prepaid lease property
Call/text me (604) 365-0991 if you’d like to explore possibilities.