Crazy Money! Million Dollar Homes for College Students
It’s Crazy Money Day!
Some parents are buying million-dollar homes for their college kids while others are preoccupied with just helping purchase textbooks! Axios reports that it’s not unusual for parents to purchase properties for their students who are studying at schools in Washington D.C. It’s one of the most expensive real estate markets in the nation and home to two of the most expensive universities. Parents look at a purchase as a means of passing on wealth. They believe the investment is safe and may even earn money. In the worst-case scenario, they’ll break even or rent it out if they hold onto it. Some sales go to parents who want a place to stay when their children start school away from home. Others want to ensure that their children have housing that meets their expectations.
One home remodeler reports how one of his clients spent over $2 million on a condo, then several million more on luxury upgrades. One agent sold a new 2-bedroom condo for $1.3 million. It was for a student who needed one bedroom for sleeping and the other for studying. Now that’s a tough life, but who knows? Maybe he or she will discover the cure for cancer!
Now these are not like the dorms or old homes that I lived in during my years at college! There were 3 students in a tiny dorm room and a community bathroom for the entire floor. People don’t have to spend crazy money. Modest 1-bedroom condos are available for much less. Now the Bible promises that God’s preparing a home for all of us! So, let’s be grateful for what we have as we anticipate our eternal future.
And if you or a loved are one struggling with credit card debt, Christian Credit Counselors will help. They’ll create a debt management plan just for you. For more information visit online at crown.org/ccc.