Should You Buy A Home For Your College Kid? (5 of 5)

Stability

Having to find a new place and move every year, find storage, and put down new deposits is a drag for anyone. Buying a home that your child can live in for his or her entire college experience provides stability as well as a fixed expense they (and you!) can count on.

In - state tuition

If your child is attending college out of state, you're being hit with even higher expenses. "About 17 percent of students attend college out - of - state, and they pay dearly for it," said Parenting. "The typical out - of - state tuition rate at a four - year public university is three to four times more than the in - state rate."

For this reason, parents often explore options for in - state tuition, like purchasing a property - but with varying success. "Most states have established residency requirements designed to prevent out - of - state students who become residents incidental to their education from qualifying," said FinAid. Buying a home in the state is a good start, but likely won't be the only commitment that needs to be made in order to get that elusive in - state tuition. It's a good idea to learn all you can about the requirements for the school and state in question before making a purchase for this sole reason.