<p>With real estate prices dropping and dorm rates increasing, I was wondering if anyone else is considering buying a place. Son will live in the dorm this year, as a freshman, but he will have another 4 years of classes here and prices are very reasonable in his college town. I know there’s a lot to consider, such as roomates paying rent, maintenance issues, younger siblings who my attend the same school, etc.</p>
<p>I think that is a great idea although I dont have any experience with.
But you might consider how distant the college town is, as I don’t think college students are often tempramentally suited as landlords/managers, you may have to be more hands on than you planned.
[Buy</a> your college kid a condo? - MSN Money](<a href=“http://articles.moneycentral.msn.com/CollegeAndFamily/CutCollegeCosts/BuyYourCollegeKidACondo.aspx]Buy”>http://articles.moneycentral.msn.com/CollegeAndFamily/CutCollegeCosts/BuyYourCollegeKidACondo.aspx)
[Buying</a> property for college-bound child can make sense](<a href=“http://www.post-gazette.com/pg/07343/839767-30.stm]Buying”>http://www.post-gazette.com/pg/07343/839767-30.stm)</p>
<p>I do know a family that thought it was a really good idea – and bought a house in the college town 6+ hours from home that their two sons could live in and attend the college. Son 1 is still living in the house – he will finish up and graduate this fall, but Son 2 withdrew from the college in the middle of his sophomore year, four months after moving into the college town house. He is planning to finish his education elsewhere. No more family to move into this house … so they hope they will be able to rent and/or sell it.</p>