A recent Coldwell Banker report shows that more and more parents are opting to buy homes for their college-bound teenagers rather than pay rent or dorm fees. About 65% of Coldwell Banker professionals located in college towns see a significant number of parents buying homes for their students, and this trend is sure to continue as deals and steals remain on the housing market.
The College Home Listing Report released by Coldwell Banker shows that more than two thirds of the 120 Football Bowl Subdivision schools have subject homes priced less than $250,000. There are several towns where it is more expensive to purchase a home, but these numbers show that it college housing is a solid real estate investment that can even be turned for a profit after the student’s four or five years.
There is also the option of renting out the home after your student has graduated. If you are flexible and have the resources, generating income from rental property in a college town is one of the best real estate investments you can make. A parent with a student at the University of Colorado at Boulder should highly consider buying a home for this very reason.
Whether you are looking for a short- or long-term investment by purchasing a home for your student, it makes a lot more financial sense than renting in nearly all cases. Give me a call at 888-860-1931 for an overview of college housing in the metro Denver area.
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