College Students Swapping Dorms for Homes Purchased by Mom and Dad
Home away from home is getting even sweeter for college students. (As if college wasn’t already the best four years ever)
Do you ever secretly wish you could head back to college and re-live the good old days, maybe for just one semester? If it seems like college life is only getting sweeter, you may be right. On more and more college campuses, a few lucky students are ditching the crammed dorm life and tiny off-campus apartments for bigger digs – courtesy of mom and dad of course.
In a recent informal survey of its sales associates, Coldwell Banker found that more than one-third of agents across the country are seeing more buyers looking to purchase properties for their children now than in previous years. The reasons for the investment are varied – some are taking advantage of low prices and interest rates, while others are anticipating inventory may be scarce when their child enters school.
Ed Feijo, a sales associate with Coldwell Banker Residential Brokerage in Cambridge, Mass., has seen international buyers purchase homes for children as young as 14! No, these child prodigies are not yet at Harvard or MIT. But their parents certainly have high hopes, so they are determined to snatch up a desirable property while they can.
Whether you’re a parent looking to make an investment, or a student who wants to persuade mom and dad, here are some listings within a two mile radius of a few iconic college towns:
Cover image via wikimedia.org