Condo or on-campus? Covid-19 changes the game for the parents of college kids
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…