Can student housing really be a good investment?
While rising tuition costs grab the headlines, the bulk of the cost for sending kids off to university is actually four or five years of food and lodging.
At the University of Toronto, residence fees vary and increase every year; throw in a meal plan and an approximate average is $10,000 per year.
Instead of forking over even more cash to the university or nearby landlords, some enterprising parents prefer to buy a nearby property for their children to live in during their university years.
That's what one Kleinburg couple did the year before their oldest daughter started her second year of studies at Wilfrid Laurier University in Waterloo.
"Over all, it was a very profitable experience,” they told the Globe and Mail. "We had enough rental income coming in to offset the monthly costs of the house, and at the same time we were building equity."