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NextGen Magazine

 
 

With Student Housing Costs Rising, It May Be Cheaper to Just Get a House

By:
Chris Gaetano
Published Date:
Oct 6, 2017
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College costs are higher than ever, and that includes the cost of student housing. With housing costs alone averaging about $10,000 today, depending on where you go to school it may actually be cheaper to forego campus housing altogether and just get buy a place in the area, according to CNBC. Yearly mortgage costs for 1,200 square foot condo near Texas A&M University, for instance, would cost $6,696, only a shade higher than the $6,621 student housing costs, and likely buys more space. On top of this, parents who buy a home and then become landlords can deduct expenses like mortgage interest, property taxes, insurance, utilities and certain repairs (no such luck if they buy the property just for their own child to live in, though). However, this may not be such a practical option in a city like Seattle where the a condo of the same size would set someone back $27,828 a year, versus on-campus housing costs at the University of Washington of $9,144 a year.