A parent asked, “Should I sell my house to fund my child’s university education?

Here’s 3 options for a parent in this situation

That’s not necessary so I’ll briefly explain a few options.

Option 1: Sell and use profits to buy a small home and pay for your child’s education

If you sell, can you make enough to buy you a smaller home and finance your child’s education? Would a smaller house be more comfortable for you?

This options works for someone who no longer needs and no longer wants all the space you currently have. It’s downsizing your space and your budget at the same time. Plus, your preventing your child from the dreaded student loan debt.

Option 2: Cash Out Refi and stay in the home while paying the child’s education

You could also do a cash out refinance which allows you to stay in the home and still finance your child’s education. For example, if the home is now worth $250K and you only owe $100K, you can borrow a sizeable portion of that increase in value to pull cash out for your own uses. It’s like buying your house from yourself.