Increasingly as families look for ways to offset the growing costs associated with sending a son or daughter to college, they are looking beyond scholarships and grants that aid tuition costs. More and more parents are considering alternatives to the high cost of on-campus housing.

One option to consider is the purchase of a residential home. This web page will help you determine the benefit of buying a home as an alternative to on-campus housing.

First: Click here to see houses available in the surrounding area of Colleges in our area.

Second: Click here and enter the “List Price” of the home in our mortgage calculator to compare your monthly payments to on-campus housing.

This will help you assess the best housing opportunities for your student.

A student home investment has many advantages:

1. You build an asset rather than pay an expense. Even in the current economic times, a carefully considered home purchase will gain some value over time.
   
   
2. You or your student earn the tax advantages that come with home ownership, such as mortgage interest deductions, the current first-time home buyer tax credit, real estate tax deductions and others. Naturally, you should consult with your tax accountant to determine which tax advantages may occur with your purchase.
   
   
3. Additional roommates can offset all or a significant part of the mortgage payments and other costs.
   
   
4. Your asset can be sold following the student’s graduation with possible gains in equity.