November 8, 2009

Give it that old college "buy"?

Back when you were in college did you live in the dorms? Maybe you shared an apartment with a few buddies? Did you live for a few years in a fraternity or sorority house? Maybe you were a commuter who still lived at home with Mom & Dad?

Well now that you're a grown up (maybe) and may soon have kids heading off to college, it might be a smart idea for you to consider investing in a home for your kids to live in during their collegiate years and don't just invest in their education.

Each year Coldwell Banker comes out with the Home Price Comparison Index so people across the country can see how their area would stack up with other areas from a pricing standpoint. Another aspect of this report is to see how the local college towns rank compared to each other.

Here's a fun video that Coldwell Banker put together to show you how things can get a bit competitive when dicussing anything about your school...

So how does your old stomping ground stack up with your rival? How about your spouse's or significant other's Alma mater? There just might be some more ammunition for the upcoming Rivalry Weeks in these reports. Just remember, this report doesn't say these towns or better (or worse), it just helps see how far your money might go.

In case you're going to end up spending more in a different city where your kids might be attending, don't worry. Just find a local fraternity member - he'll be able to tell you where to find the best deals on everything else.