Buying a House Near My Kid's College: Smart Move or Risky Bet?

[Michael Calvey]

My oldest child is going to college next year in a town where I could buy a house for $160k. I've got the cash to buy it outright, then let him live there, rent out the other bedrooms to classmates, etc. And ideally sell it 4 years later.

If I can more or less count on the renting of additional bedrooms to cover the running costs of the house, I'm really only looking at taking a hit on the buying/selling costs - which SHOULD be lower than what it would cost to house him in dorms for 4 years.

I feel like this is pretty obvious and easy (not trying to make significant money here, just thinking I could save $10-$20k on housing costs over 4 years). What am i not thinking about?

[Bjorn Ahlblad]

Like with any RE investment a thousand things could go wrong. All that aside I'd do it, especially the part about including your kid and exposing them to the experience and related tasks. Keep us posted. All the best!