Graduations: Today Here, Tomorrow Where?

It seems a millenium ago that my senior class at Houston St. Thomas High put on academic robes from the era of the middle ages and paraded across a stage to handshakes, diplomas and the familial tumult of proud and excited relatives and friends. Some of us had scholarships, some knew that Notre Dame or The University of Houston, or Rice Institute (now University) or one of many other institutions were awaiting our genius. There was only optimism to be seen or heard anywhere among us. After being placed on Rice's accepted-but-waiting list, I chose the more certain path to The University of Texas at Austin, where I was told I would be in something called 'Plan II', an accelerated liberal arts program. Not even sure whether Plan I was better or not, I fled in my 1958 Ford to the shining future in the state capital, where adult freedom awaited.

Well, as every single one of you over 35 knows, it is good to start young, because the passage of time guarantees only that we grow older, if we live. Whatever life successes or lack of same, we find that our anticipated assumption of great things to come falls somewhat short for most of us. Wars, health, accidents, foolishness of youth, all of the vagaries of mortal kind color and shape even the most glorious life experience. Princes and presidents and paupers find common ground in this truth. Yet life is worth the effort, family and friendship, courtship and love, teamwork and bonds forged in common victory or loss, all enrich us and allow deeper understanding. Then comes, to many, parenthood and the witness of another generation beginning the same cycle, unwilling and possibly unable to avoid it's own stumbles by learning from the advice and warnings of our most sincere guidance. They are eager to flee our protection and concern as fast as their own transport can convey them, speeding headlong into their future, which will certainly be bright and fulfilling, of course.

Except for financing it all, as we know. Mom and Dad are still looked to for the the boring stuff, like rent, food, clothes and transportation, among other things. Of these, only the rent category can be made to actually benefit parents over the term of a collegiate's education, while allowing the younger set everything this new freedom requires. Unless your youth is a budding Michael Dell, your primary hope for a positive return on your endless expenses is the purchase of a residence for your student's use rather than 4 or 5 years or more of monthly rental payments which purchase neither equity nor market appreciation, such as Austin has experienced since it's founding. Austin has about doubled in size every twenty or so years since it has existed, through every war, recession, depression and real estate cycle.

If you have other kids following the first, your gains can be made even more attractive. But in any case, this choice allows room rentals to other students, which can help with payments and upkeep, it allows tax advantages, and it creates real gains through increasing value over time. Of primary importance is obtaining the assistance of an experienced real estate professional who understands the university market as well as investment buying. Over 25 years of buying and selling for clients in the UT, Concordia and St. Edward's areas have demonstrated my skills in this market. I enjoy dealing with students and parents and any extended family or advisors involved, and will be pleased to speak with you about personal representation and assistance in evaluating your options.