Parents buying LSU real estate for their children attending LSU is an investment that pays back.
Parents want what is best for
their children. Education is one of them. As their children leave their
parent's home to attend universities such as Louisiana State
University, their tuition is sometimes paid for by their parents who
had saved up money when the children were younger. Other college
students are not as fortunate, as their are some students who have to
pay their way through college by getting a job while in college if they
aren't able to get grants or student loans to pay for their college
In a similar way, some parents have another way of
saving for their college-attending children: Housing. Whether the
parents directly save up money in an "education savings account" and
also a "housing savings account" or whether the parent's borrow on
their principle residence to get a home equity loan in order to
purchase a smaller house or condo near the LSU campus, the end result
is the same: Housing for their children while attending college. Just
as some college students have the luxury of having their parents "fund"
their housing costs, unfortunately some college students are not so
For those college students who are fortunate enough
to have their parents pay for the purchase a home (whether that be
through a conventional loan or via cash) there is a distinct difference
in parents paying for their children's tuition and parents paying for
their children's housing.
Tuition, once paid for, is gone.
Housing however, once paid for, is something tangible that is still owned by the parent.
rather than spending money on housing costs by renting out apartments,
those "payments" can either go to the pay down of the home loan or it
can go directly to the parents as "interest" (if paid for in cash). So
at the end of the 4-6 years that the child is in college, even if the
property was sold for the exact amount that the parents paid for it
once their child graduates, the parents benefit.
a loan was taken out by the parents, the loan would have been lower
than the initial purchase price at the time of sale. So the amount they
"paid down the loan" is their "profit".
If the parents bought the property with cash, then it is (generally speaking) like the children had free housing for 4-6 years!
situation is different, so you will want to talk to a knowledgeable
real estate agent who can help you find the best property around LSU.
David Engle, real estate broker of Engle Realty, has specialized in the
LSU housing market since day one of becoming a licensed real estate
agent. He is the leading LSU area real estate agent in the Baton Rouge
Louisiana real estate market. Since 2006 David has helped many LSU
parents purchase property for their kids to live in while they attend
LSU. Call David directly at 225-937-4003 to get started looking. It
takes about 30 days to obtain a loan for a property, so while it
doesn't take very long to acquire a property in time for the next
school semester, you do want to give yourself as much time as possible.
Realty agents can also help you find condos, townhomes, or homes for
your children. Contact an agent to ask for more details on what
they have to offer. Please call us today at 225-937-4003.