Buying a Home for the College-Bound?
Buying a house for the college-bound student has become a growing trend lately. In fact, we at Elite Properties handle quite a few calls from parents that are looking to buy their children a house or a condo to live in while they go to college at Sacramento. Just this year, we sold a home to a client from Florida who bought a home blocks away from American River College.
So, based on this story that appeared in the SacBee and Bankrate, what should be some things you should do when considering a residence for your college-bound?
1. Try to find a multi-unit that you can rent out to other students.
2. Make sure to have all leases in writing. (Great opportunity to teach your college-bound the value in investing in real estate!)
3. Pick a property with potential. Make sure it’s close to campus.
4. Have a plan - this is one that most people ignore. Have a plan about what you will do with it before you go out looking. Do prelimnary research and decide.
And oh yeah, if you’re considering Sacramento:
5. Call Elite Properties (very important!)
