One of the best University of Colorado Boulder (CU) housing options is purchasing rental property instead of just settling on the dorms.
Student housing can turn out to be more than just a necessity for college students. In the long run, it just may be a good real estate investment that parents and college students can count as a sound investment long after graduation.
When your college aged student heads to school, one of the major costs is room and board. A student who lives in on campus housing effectively is forced to eat at the cafeteria or out at expensive restaurants, instead of being able to economize by cooking healthy, inexpensive meals at home. (okay, we know that the “healthy” part may be a stretch, but seriously, having to order in or exist on a hot plate and ramen noodles is definitely not going to increase their brain power or grades).
As the parents of a college student, one very viable option is to purchase a rental property that will accomodate not only your student, but which you can rent out to other students as off campus housing. Here in Boulder, CO, investment property prices are even determined by the number of bedrooms because of the strong demand for student housing.
Upon graduation, this investment property could be fully paid for, or if financed, still bringing in income long after your student graduates. Eventually, you can sell it, knowing that it has been income generating with low occupancy rates because of the college market’s demand for housing.
One thing to consider is to put your college student on the loan or the title. This can help establish good credit during a time when many college students are accumulating debt or bad credit, putting your kid ahead of the curve.
Student housing can be a great investment for any parent or real estate investor in a college town like Boulder, CO! First, it’s a “captive audience” of sorts, as housing is always needed so renting out the investment property is easy. Second, you can be making some money or at least equity for the 4 (or more) years your child is in school.
If you would like to find out about purchasing rental property as a University of Colorado Boulder (CU) housing option, give me a call today! 720-306-8017