Talking About the Benefits of Investment Properties on News 12 CT

I love talking about this topic as many people don't realize the advantages of purchasing an investment property to help pay for college.

There are 2 great strategies-

The first one is to purchase a home while your child is young so the property can appreciate in value and earn equity.?

• Then? you can use the monthly rental income to put into a college savings account.
• You can also use the potential appreciation & equity you earn over the years to finance college tuition (Such as a home equity loan or line of credit, which allows you to borrow against the equity in the property)
• And once your child is ready for college you can sell the property and use the proceeds from the sale to help pay for college

See the full segment here:

Another strategy is to?

• Purchase a property near the college your child is attending.? Have your child live in it to save on room and board fees
• Then have roommates pay rent to cover the mortgage and potentially even generate income.
• Both options have several tax benefits

If you're considering buying an investment property to help save for college, here are some tips to keep in mind:

• Research the real estate market in the area you're interested in buying. Look for properties that are in up-and-coming neighborhoods?and will appreciate in value over time
• Calculate your expenses carefully. Make sure your rental income will cover all your expenses, including mortgage payments, property taxes, insurance, and maintenance costs.
• Hire an experienced agent to help you with this process.

It’s still a sellers market and there are many qualified buyers out there looking. If you have an investment property now is a good time to sell?and take advantage of all the equity you have earned over the years.

For buyers, make sure you and your agent do your research and make sure the numbers make sense.? Here in Fairfield County, CT homes are predicted to appreciate in value about 3.9 % each year.? Remember this is a long term investment and over time the equity you earn could be substantial.

Please reach out for more information and to get on our monthly newsletter and upcoming seminar list.

Christine Finch Oleynick | Keller Williams Luxury Westprt, CT

[email protected] 203-912-9712