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Sample00 · 12-27-2013, 08:57 AM

My daughter is attending University in Edmonton.
Currently she is renting a room in a condo with 3 other girls.
As you can probably imagine, this has its share of issues.
She is committed to remaining in the agreement til the end of the year.(April/2014)

We are discussing options for next year and I am at a loss as to how to best handle the situation.
Rez looks like its going to be about 700.00 per month
Renting an apt/condo looks to be about 1200 -1500 per month for a 2/3 bedroom.
buying is going to be about 200,000 for a decent 2/3 bedroom condo, which would make payments about 900.00 per month plus condo fees and utilities.

I hate throwing money out for rent but in this case I am considering it because of the "no other responsibility clause" that it has. Once you;re done, you're out.

I'm concerned about buying a place for a couple of reasons:
a) there is more responsibility for owning your own.
b) added costs like utilities
c) finding other tenants for the rooms (although, i dont think that would be a big issue if I am looking for university students. however, given the current scenario, do I want to be the owner and have the roommate issue)
d) my son will be heading to university in another year but he plans on attending school in calgary

any insight would be appreciated to assist with my dilemma.

12-27-2013, 08:57 AM	#1
Sample00 Sleazy Banker Join Date: Oct 2001 Location: Cold Lake Alberta Canada Exp:	Rez, rent or buy My daughter is attending University in Edmonton. Currently she is renting a room in a condo with 3 other girls. As you can probably imagine, this has its share of issues. She is committed to remaining in the agreement til the end of the year.(April/2014) We are discussing options for next year and I am at a loss as to how to best handle the situation. Rez looks like its going to be about 700.00 per month Renting an apt/condo looks to be about 1200 -1500 per month for a 2/3 bedroom. buying is going to be about 200,000 for a decent 2/3 bedroom condo, which would make payments about 900.00 per month plus condo fees and utilities. I hate throwing money out for rent but in this case I am considering it because of the "no other responsibility clause" that it has. Once you;re done, you're out. I'm concerned about buying a place for a couple of reasons: a) there is more responsibility for owning your own. b) added costs like utilities c) finding other tenants for the rooms (although, i dont think that would be a big issue if I am looking for university students. however, given the current scenario, do I want to be the owner and have the roommate issue) d) my son will be heading to university in another year but he plans on attending school in calgary any insight would be appreciated to assist with my dilemma.