Invest In Your Children – Buy Them A House
A growing number of parents are planning to invest in a buy to let property to rent out to other students to help cover the cost of their own child’s higher education according to new figures from HSBC.
The Office for Fair Access (OFFA) has confirmed that more than a third of universities in England will be charging the maximum tuition fee of £9,000 for the next academic year, 2012-13.
This has now become a worrying financial reality for many parents with the HSBC research revealing that 10% of parents will not be contributing to the cost of their child’s university education following news that fees will treble from next year and a number of parents expecting their children to fund the increased costs themselves or on a sadder note, not attend university at all.
Further research from HSBC indicates that 54% of parents stated that they will save more in order to fund their child’s university education while 42% said that they will cut back on luxuries.
Over 20% said that they would work overtime whereas 15% of parents suggested that they would search for a second job. Shockingly, a proportion of parents spoke of more extreme sacrifices they were willing to commit to such as selling the family home.
And one of the options being considered is an investment plan in a buy to let property which is being seen as a more practical and lucrative solution.
Opting for privately owned student housing is a sensible option where significant monthly returns can be made from renting out your buy to let property to other students.
