Student Accommodation: To Buy Or Not To
Buy?
If you have a child leaving for university this autumn this could be
the year you decide to buy her the key of the door.
Independent financial advisor Colin Jackson of
Baronworth Investment Services in Ilford, says that buying a three or
four bedroomed house to house your son or daughter and rent out to other
students is not as daft, or as unaffordable, as it sounds especially,
in these grant-free days, when you could be saddled with three years'
rent bills anyway.
But before you take the plunge here are some
things to think about:
Pros:
A capital investment for you or your
children
A permanent and safe place for your children to live in while studying
An extra early step on the property ladder for your children
A graphic lesson in economics and financial responsibility for your children.
Cons:
House prices can go down as well as up
Students can change their minds, drop out, and move to Goa
How many good plumbers do you know 300 miles away
ISAs don't need new roofs, new tenants, or get broken into during the
Christmas holidays .
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