This isn't solely a financial decision, you need to also consider your children's appreciation and understanding of money and how getting them their own place to attend college might impact on that. You say in your opening post how you've been saving your entire life, not having come from a wealthy family and this trait has served you well. You don't want this important skill / value to be lost on your children. It's one thing to fund or part fund a house share for them in another part of the country as many other students will be doing but getting them their own place if they could easily attend from the family home may not have the intended consequences for them either. Just something to consider.Re: Children living away from home, rather than at home while going to college in same city
Thanks. This is not something we considered. And the additional rental+living costs would put me off. We will consider it.
If, we decide go down the route of kid(s) doing college away from home, I think we would try to buy something suitable for rental. Will discuss this more with my spouse. At the moment, my frugal side could only get on board with this, if we could make the thing pay for itself, or come to close to that. Potentially this could be part of some form of inheritanc planning too.