NFL players’ wives, girlfriends, and daughters can be your new roommates
The new wave of “housewives” are arriving at college campuses across the country and could help boost your family’s finances.
They are coming from a variety of professions and can also help you find the right roommates, a new study says.
Here are the pros and the cons of each: Pros: They are typically young, so you can make some money, too Pros: Your family might be wealthier, too The more common the occupation, the more likely it is that your family could qualify for an affordable housing loan, says Amanda Gebauer, director of housing studies at the Urban Institute.
That means they can save a significant amount of money.
If you’re a single mom with a child under 18, for example, the mortgage you can borrow for a 2-bedroom apartment at $1,400 a month is likely lower than $1.2 million.
It also means you could qualify with an additional $500 a month to pay off the mortgage, Gebarer says.
The housewives’ financials could help them get a new roommate or even save up enough to rent an apartment with the best amenities.
Theoretically, this could help offset the mortgage they will likely pay down as they age, Gegauer says.
Pros: You can save money in your own house by buying a new, more expensive home that has a better floor plan Pros: The housewife’s salary may be more than double that of her husband, so she may be able to save on living expenses Pros: If you live in a city that is not very expensive, you could also save money Pros: Many houses in the area are well-off, which is why they are attractive to these housewives Pros: Some of them might want to live in another state Pros: It’s a very easy way to make money in a relatively new industry Pros: These housewives will probably save on rent, so they might be able afford to buy their own home Pros: Most of them probably have children and will need to work a few more hours Pros: This will be a good opportunity to save money and take advantage of the fact that they can easily get a mortgage, which will give them more options, Gbebers says.
This article originally appeared in the March 22, 2018 issue of the Chicago Tribune.
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