Some American parents are questioning the wisdom of dumping money into their kids' college dorm rooms.

Instead, Business Insider reports they're getting a bit more creative.

They're investing in local real estate in a strategy some realtors call buying a 'kiddie condo.'

That's a home in a college town for their kids to live in.

The idea is to put the money normally spent on college expenses, like room and board and out-of-state tuition, into a property.

The condos provide rental income and can raise the student's credit score if their name is on the mortgage.

It can also help them establish residency to become an in-state student and qualify for lower tuition.

However, it's not right for everyone, and it's important to check that state laws allow it!

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CBC News 20 Nov 2019 22:50 CET

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