student housing or tempe condo for your asu student?
DESCRIPTION
We are real estate agents specializing in High Rise Condos. We help literally hundreds of high rise & loft condominium buyers, sellers, renters and landlords. You can reach us at (480) 510-8755 or visit our website at www.weknowurban.com. Will Daly, Broker We Know Urban Realty, LLC 834 E Claremont Street, No 3 Phoenix, AZ 85014 (480) 510-8755 Email: [email protected]TRANSCRIPT
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Student Housing or Tempe Condo
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Your baby is all grown up and ready to head off to ASU in Tempe, Arizona.
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Among all the other decisions that must be made, it's important to remember that housing can seriously affect how a student performs in college.
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ASU's policy is, "All first time freshmen students (defined as students who have compiled fewer than 25 hours of college credit) …
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… are expected to live in Arizona State University housing on the campus where their academic major is located for the entirety of their first academic year."
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However, roommate disputes, waiting for an open machine at the Laundromat, and loud dorm room parties can create quite the stressful situation that distracts from academics.
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That's why many parents decide to buy a condo for theirchild to live in during their remaining college years,considering it an investment.
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While it may sound a little like over-kill initially, this purchase can be a wise choice that actually helpspay for your child's college education in the end.
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Paying Rent vs. Paying a Mortgage
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Rent for student housing adds up fast; in fact, housing is frequently the 2nd highest cost of attending college, only being beat-out by tuition.
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ASU's dorm fees range between $5,500 and $8,000 per school year.
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With today's interest rates that means the monthly payments will run about $1,000 to $2,000 per month.
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When you buy a condo, more than just your child can stay there.
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In fact, many Tempe condos are large enough for 3 or more additional students to stay with your child.
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That's a lot of rent you'll be collecting to put towards the mortgage payment.
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In the end, you may find that your child is essentially living rent-free.
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Additionally, as you're collecting those rent checks, you'll also be building equity.
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Once your child graduates, you can hold on to the condo and continue to rent it out, which can help pay off any student debt your child has.
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Or, depending on how the real estate market trended during the time that passed, you can sell it for a profit.
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Choosing Roommates
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Odds are that, at one point in your life, you've had a roommate straight from hell.
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Perhaps he/she cheated off your homework, stole your food, or liked to throw loud parties during finals week.
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Either way, a horror-story roommate can cause enough distraction to lower your child's grades.
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When staying in student housing, your child haspractically no say over roommates.
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Sure, there are dispute resolution policies put in place to help keep relations between roommatesgood, but frequently these practices don't work.
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When you're the landlord, however, you and your child will get to choose who he/she lives with.
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This extra bit of control takes a lot of guesswork out of the process.
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Younger Children Can Stay
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For families with more than one child to put throughcollege, purchasing a condo in Tempe makes evenmore sense.
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As each child comes of age, he/she can stay in the unitwhen attending school.
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Meanwhile, you'll still be building equity and savingmoney off of rent; it just makes good financial sense.
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If you are looking for a condo to buy in Tempe for your ASU student, We Know Urban Realtywill help you find the perfect place.
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Their realtors are experts when it comes tourban living.
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Visit the site to see what's available right now:
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www.weknowurban.com
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Will Daly, Broker
We Know Urban Realty, LLC
834 E Claremont Street, No 3
Phoenix, AZ 85014
(480) 510-8755
Email: [email protected]