Let’s face it, sending a child off to college is expensive and when that moment arrives, we want to do whatever we can to save a little money. Between the cost of tuition, books, supplies, and on campus housing, families shell out thousands and thousands of dollars.
Of course, there are different ways to save money when your child goes off to college. Students can apply for scholarships, take advantage of working on campus, buy used text books, and if you really want to save some money, find your college student somewhere close to live off-campus.
Students and their families can save lots of money by finding a place to live off-campus but still close enough to get to classes and events. With off-campus housing, students can share an apartment to reduce rent costs, have a quiet place to study and rest and still have a great college experience.
If a family is interested in save money and wants to make more of an investment there is also the option to purchase real estate near your child’s campus for them to live in as well. If you have a child who will be attending a university and you are on the hunt for real estate, you could simply search for real estate near Simon Fraser University to see what kind of options are available and you could weigh the pros and cons of off-campus housing.
Don’t Have a Child in College?
If you don’t have a child in college but are looking to make an investment to help build up your retirement savings, investing in real estate near a college campus can be very profitable. You could purchase a home, condo, townhome, or even multi-unti housing to rent to students throughout the school year. By purchasing and renting, you can pay the mortgage for the rental unit and tuck the profits away in a savings account for your retirement.