Having a child head off to university for the first time can be pretty overwhelming. In addition to dealing with all the emotions of seeing a child leave home for the first time, there’s also a lot of extra expense! It will probably just take time to get a handle on those conflicting feelings of pride and loss but luckily, there are lots of ways you can help minimize the impact on your pocketbook! Looking for ways to save on those never-ending university costs? These are three tips that may help!

Live Off Campus with Friends

Living on campus can be surprisingly expensive, especially since it often means eating out rather than having access to a kitchen so a student can buy groceries and cook at home. Instead, consider combining a valuable investment with cost savings for your child by buying a nearby house your child and a few friends can rent from you to help minimize the cost. Have a child going to school in Burnaby? Check out the real estate near Simon Fraser University to see if there’s a house with three or four bedrooms at a reasonable price. Since property near universities is always in demand, you’ll likely be able to sell the property at a great price when your child finishes school! [Read more…]