Parents' questions, answered

It can be, especially over a longer horizon (four years or more, or if siblings follow) and with reliable roommate income. Over shorter periods, buying and selling costs often outweigh the savings versus renting. Run the numbers with real inputs.

Ideally in the spring before your student needs to move in, often before second year if they live in residence for first year. Buying in a late-summer rush limits your choices.

Close to campus suits students who want to walk to class. Downtown or along direct bus routes can be quieter and appeal to more buyers at resale. Both Western and Fanshawe students generally have transit passes.

Parent, child or joint ownership each have different financing, tax and legal consequences, including for the principal residence exemption and your child's first-time buyer status. Get advice from an accountant and a lawyer before you buy.

If the borrower won't live in the home, lenders typically require at least 20% down. Policies vary, so ask a mortgage broker.

Generally yes, to the owner, offset by eligible expenses. Keep records and speak with an accountant.

Often, if roommates pay rent. London licenses many rental units in buildings of four units or fewer. Check with the City before roommates move in.

No. Ontario allows a last month's rent deposit (with annual interest) and a refundable key deposit, but not damage deposits.

Not automatically. Fixed-term leases generally continue month to month unless the tenant gives notice or you have a legal ground under the Residential Tenancies Act.

London's zoning has historically limited bedrooms per unit in many zones, and condos may limit occupancy. Check before you buy.

Sell, keep it as a rental, pass it to a younger sibling, or let your graduate stay. Plan at least a year ahead, considering leases, tax and market timing.

Federal restrictions on residential purchases by non-Canadians have applied in recent years, with exceptions. Get legal advice on current rules before making an offer.

Many first-year students do, and it gives families a year to learn London and see where friends live before buying. It also shortens the ownership horizon to about three years, which affects the math.

Not necessarily. Many parents use video walkthroughs and a local agent for the search, then visit for a focused weekend. Never skip the home inspection, and have a lawyer handle the closing.

If roommates pay rent, usually a landlord or rental dwelling policy rather than a standard homeowner policy. Each roommate should carry tenant insurance.