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Benefits of Buying a House for Your College Student

benefits of buying house for college studentI’ve talked with several people lately about the idea of buying a house for your college student and why that may be a great idea. I think the information is worth sharing and may be useful to many of you out there. Even if you don’t have a college student, the information here could help you select a great rental home to generate some extra income each month.

One of the great things about buying a house in a college town is that demand stays consistent. This is beneficial for a couple different reasons. For one, in the current real estate market, many sellers are facing severe hardships due to falling prices and increased lengths of time their houses are on the market. In a college town, there are constantly people moving to the neighborhood, keeping demand consistent. It may even increase as nowadays more families are emphasizing the importance of higher education, more students are attending college, and enrollments are expected to increase. So even when your student graduates, you can be confident that there will be demand so you can sell the house or rent it.

If you read my blog regularly, or even occasionally, I am sure you will pick up on the fact that we encourage people to find alternative sources of income. Rental properties can be a great way to put some extra money in the bank each month. After your student graduates, you can consider renting out the home. Some things to consider when leasing: professional and adult college students tend to party less and would be more likely to take good care of the home. College towns have also become popular places to retire as well, so you may be able to rent to a baby boomer.

If you would like more information on the benefits of buying a home for your college student, or even buying a rental property in general, be sure to let us know!

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