As the cost of a university education continues to skyrocket many parents as well as investors are eying the McMaster Universitystudent rental market. Rental fees average approximately $5,000 per year for each student, with many student houses having five or six rooms. With an adequate down-payment, a parent, or parents group could easily buy a residence and have their son/daughter live in it for 4 years, while their mortgage is paid by the other renters. At the end of the four years, they will have reduced their mortgage, had their child's stay at university subsidized, and should have a nice appreciation on the value of their home. The average home price in the Westdale neighbourhood in 2006 was $229,995 last month the average price of homes sold in the same are was $295,514. In m...
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