Friday, November 16, 2007

Three Secrets to Successfully Buying A Student Condo in College Station

Buying a student condo can be a great investment in College Station. Among the benefits are the increase in equity during the time your student lives there and the learning experience for your student. Watching you complete the purchase can teach them valuable information about real estate transactions.

How do you ensure a successful purchase, one in which the student is happy, you are happy and you are enroute to a gain during the years you own the property?

The first secret is to find an agent VERY familiar with all the condo and townhome projects around town and will familiarize you. All of them have their upsides and downsides and you need an agent that will discuss the pros and cons of each complex and educate you to what is available, and what has traditionally made good equity leaps. There are many choices in our town, and it is a huge mistake to make a decision without seeing what other complexes are available. Many people go for the latest development because of a nice brochure only to find out that their resale value isn't as high as their mortgage.

The second secret is to match the condominium with your students (and their friends) personalities. A more outgoing student sometimes will not be happy in one of our more sedate complexes just like a quiet student won't be happy in party central.

The third secret is to choose roomates very carefully. Sometimes long time friends make the worst roommates. Family, at times, makes the best roommates you can get. If cousins are attending together, and get along well together it can be beneficial. Good friends have often left their college condos never talking to each other again. Family is always family!


Chosen carefully a college condo can be an excellent investment and an asset to your investment portfolio. Call me to schedule a time to look at all your options!

1 comment:

Anonymous said...

Chris - Good tips! I am already hearing from buyers who are considering UNM for NEXT year. Finding an agent who can tell a student which condos are party condos and which ones are not is very important! - Ashley