Real Estate

Should you consider a condo for your college kid amid Covid-19?

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When Diane Pearson’s sons both attended Robert Morris University, buying a condo for them in the suburb of Pittsburgh made financial sense.

Pearson, who is a certified financial planner, took out a home equity line of credit to purchase the property with cash in 2013. 

Three years later, the family sold it at a $5,000 profit. Factoring in the savings on dorm room fees, “in the end we probably saved $40,000,” she said.

“I have been recommending this process for years,” she added.

Diane Pearson with her husband Alex and sons David and Alex.

Source: Diane Pearson

Before the coronavirus crisis sent shockwaves through the economy, it was increasingly common for parents to buy properties, or…



Source cnbc.com

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