Why It’s A Good Idea To Buy Your Kid A Condo After High School Graduation
Posted on October 4, 2013 | Back to blogUncategorized
They’re not spoiled…
Kids these days have a bad rap for being spoiled bloody rotten beyond repair. Every time you turn around, some curmudgeon is referring to the millennial generation as the “me me me me me” generation or my personal favorite – the “most narcissistic generation in the history of the universe.”
Give me a break
I guess old people, or the “youth challenged” as I like to call them, thought everyone would just behave themselves as soon as people were granted access to supercomputers that fit in the palm of a small child’s hand. Yeah, right. There are plenty of narcissistic “adults” of all ages to go around, clutching iPhones and going deep into debt to drive the fanciest car in the neighborhood. So why on earth would you ever want to buy your kid a condo right after he graduates from high school?
Because he’s going to college
You wouldn’t have it any other way. You’ve been saving pennies since your adorable little munchkin was in diapers, intending to give her the best start in life possible. And that’s exactly what you’re going to do. But there’s often more to the story than paying for college. The kid’s also going to need a place to stay when he’s at college. Why on earth would you throw your money away on a dorm room when you can make a serious investment in your future by purchasing real estate for your children to live in while they’re going to college?
Get those gears turning
Dorm rooms are fun – to a point. A condo of your very own while you’re going to school? How sweet would that be? There wouldn’t be any obnoxious roommates or resident assistants to deal with, for one. As a parent, you’re going to need to be a good judge of your kid’s character before you decide to hand the keys to a condo over for the next four years. Some kids don’t do well completely unsupervised and need the structure of the dormitory environment to grow as people. Others do just fine.
Kick ‘em out after they take their degree
Chances are the condo with appreciate while the kids are using it for college. And you’d have to pay for a dorm room anyway. You might as well get your monies worth and sell the place or rent it out when they’re done with it. If you’re lucky, you’re the condo will foot the bill for your kid’s entire college education. It’s something to think about, isn’t it?