This message is for all you parents out there. By now your kids have narrowed down a wish list of Colleges they hope to get into. (A term you may have heard of before – “Kiddie condos”)
If your son or daughter will be enrolling in or currently attends a local Boston school, you should consider buying a second home or a primary residence for your child. Condominiums and Multi-Family Homes are a great alternative to college dorm life.
Consider buying a place with a down payment while the interest’s rates are still very low and take advantage of lower prices today for an investment you can make use of for 4 plus years. I have a client who recently bought a 2 bed Condo for their 2 children. Their daughter will be attending Graduate School in the city and their Son will be a freshman next fall at one of the Universities. We found a great turnkey condo on a safe street in Boston that has its own private security monitoring the building and the street 24 hours a day. Not only will my clients know their kids are living in a safe community they now have invested in a condo at a great price that they can hold onto for the long term or flip for profit when their kids have graduated. To top it off because of CondoDomain’s business model I am giving them cash back at closing.
Assuming you have kids that are going to school in Boston do you think you will visit? Are you going to come and sleep on the floor of their dorm room, or pay for a hotel room? Why would you if you bought Condominium in Boston?
Does your Son or Daughter plan on living with roommates? For some Parents I suggest looking out for good Multi Family Homes. The monthly income generated by renting out rooms and floors of a multi family can help pay for your mortgage loan, the monthly condo fees and the property taxes ect.. Plus it can be great for one of your children to take an active role in collecting rent and learning the responsibilities associated with owning real estate.
So in this buyers market let me help you. Universities are not going anywhere so there will always be a demand for student housing in Boston. For more information about safe neighborhoods or smart investments please do not hesitate to reach out to me.