<p>There has been lots of good advice offered here- thank you. I did look into property near his campus in the past few days and it's much more expensive than I think is warrented. And the apartment he is in this year offers all those amenities like high speed internet and weight room that others have discussed. He would like to be closer to campus, but I will tell him to look more closely for rentals that might meet his needs near campus, or to just stay where he is. Thanks for the feedback. CC parents can always be counted upon for help.</p>
<p>S is looking at hostels on a rotating basis in his new city and a futon in his lab-office.</p>
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You are forgetting that the $3,000 in home improvement can add $3000+___ to the value of the home.
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<p>Ah, hope springs eternal. Go back and look at the post:
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Had to spend about $3000 in appliances and paint and minor repairs.
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<p>If you think THAT'S the type of stuff that enhances value of a property, then please, call me quick - I have some property I want to unload on you.</p>
<p>Seriously, the biggest real estate trap in the world is thinking that money invested in improving a property can be recovered with a profit. It rarely works that way. For things that most would consider maintenance, the payback is often even worse. And please note that those new appliances, the nice new paint and so forth will not look new next year, or even after a few months of being lived in. </p>
<p>Let's be realistic. Are we coming off a real estate bubble? Don't know, but I suspect rising interest rates, rising for sale inventories and the negative press will (heck, already are) having an effect. </p>
<p>You got spare cash lying around? Then by all means go for it. You might have fun, you'll see how responsible your kid is, and heck, you MIGHT make money. Then again, you might lose. (been there, done that myself with real estate in Boston 13 years ago. Yes, is DOES go down!)</p>
<p>Just remember the fine lines between investing, speculating and gambling.</p>
<p>Your mileage may vary. Your location certainly will!</p>
<p>remember that taxes on a home might be more than renting a nice apartment</p>
<p>The only people I know who bought a house or condo for their college kids were some Mormons with a lot of kids -- most of whom were likely headed to BYU. They bought a house in Provo and made it the family dorm. The kids rotated through in turn. I think they made a nice profit on it when they sold after the last kid graduated.</p>