With the High School year ending shortly, many of you will know friends who have their children attending post secondary school most likely in a City that is often different from where they live now. It may even be yourself that has someone attending post secondary school!
I often get asked if you should buy a place or simply rent a place for the young adult to start the next chapter of their lives. The answer of course is different for each situation. What I can say however, now is the time to start asking the questions to see what option is right for you. With interest rates well below 3% and with a down payment as low as 5%, it may surprise you that a mortgage payment and property taxes may not be much different than a rent payment and once school is finished you may turn it into a rental and earn income for your future retirement!
Please feel free to contact me to go over your situation and come up with a real estate portfolio plan that works for you.