Quote:
Originally Posted by irishpipes
The house is full now, but it was a real struggle at first. We actually had several parents who had bought regular family homes for their kids to live in during college. The kid gets a couple of roommates to help with the mortgage payment, the parents get a tax break, and daughter gets to have a pet (this was actually a huge problem - students with pets), a walk-in closet, her own bathroom, etc. Considering the cost of dorms on campus (the good dorms) it is a financial no-brainer for parents. Not the college or sorority experience I would want, but it's hard to convince parents otherwise.
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That is what my mom did-she purchased a townhome and my roommate paid the mortgage. I sold it for a profit once I graduated and mom got a tax break. Property was cheap in College Station-if it had been Austin this would not have happened as property is very expensive in this town.
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