30 May Cost-conscious parents buying condos for kids studying away from home.
Original article via Globe and Mail. Click here to read.
The idea of shelling out $70,000 or more for rent in four years while their children were at university was something two Canadian fathers – thousands of miles apart – recently decided was a pointless financial sinkhole.
So Tim Morrison, who runs a GM dealership in Burlington, Ont., and Marcel Laforce, a software engineer who lives in Cloverdale, B.C., both did what felt like the smarter financial move.
They bought condos for their away-from-home students near the universities they are studying at.