The fall school year is just around the corner and if you have a child getting ready to enter college, skip the dorm and instead turn their housing into an investment. With prices and interest rates low, instead of paying for a dorm room, invest in a town home or condo that your child can use during their years in school. If there is extra room, even better, you can rent it out to other students and help cover the mortgage and other expenses.
All around this is a great investment:
- Instead of paying rent to the university or landlord, you get the advantage of making an investment in a property and building equity.
- There are several tax advantages related to owning an
investment property that your accountant can explain to you - mortgage
interest, ownership expenses, loses, depreciation, etc..
- Once your child is no longer in school, you can keep the property and rent it out to other students or sell it - there is always demand for student housing.
Now is the time to get started, the spring semester is
almost over, parents that have taken advantage of this
investment in the past are getting ready to sell and by acting now you will be
ready when your child starts the fall semester.
All around it may be the perfect idea for you. Your child gets a nice place to live during their time at school and you get a nice investment. If you would help identifying properties, call us at 561-862-9858 or email to howard@voginteam.com.
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