New Housing Market Trend: Condos for Students
And recently, we discovered one trend that is of particular relevance to those with school-age children.
Evidently, more and more parents are opting to purchase condominium units as an investment and allow their college-age children to rent from them as tenants.
More on This Developing Ottawa Real Estate Trend
For those college-age students who live close to home, there are plenty of options when it comes to housing.
The easiest and cheapest is to live at home. Students also have the choice to live in a dorm.
But for older college students, more and more are partnering with their parents in a unique way. Parents are buying condos as an investment property and becoming the landlords to their college-age children who live there.
Experts note that there are plenty of perks to this strategy.
First, parents will always have an investment property on which to accumulate value.
Also, parents are better able to provide their child with a safe living option that they can monitor.
Finally, if the property is in another town, parents can rest easy knowing that their student is keeping a good watch on their investment property. And when parents come to visit their child, they’ll save on hotel bills by staying with their children.
Plenty of Housing Options In Ottawa
There are plenty of condominium communities located right here in Ottawa and near colleges and universities.
For instance, there are several communities near Algonquin College, Carleton University and the University of Ottawa.
Think this would be a good housing strategy for you and your college-age child? Contact us, Geoff and Bobbie McGowan, to discuss your options.
We would love to provide you with valuable information on the condominiums in the area and answer any questions you may have!
Until next time,