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College Kids Learning About Real Estate

By
Real Estate Agent with Associate Broker, Momentum Realty

I am the proud mother of an independent daughter. She and her girlfriends moved in to their second shared college apartment this weekend--one  that they found, inspected and signed the lease on without any parental input. We were included in the search for the first one (the one they just moved out of) but this time they knew what they were doing...

We just found out that they don't have a dishwasher!  Not the end of dishwasherthe world of course, but pretty funny considering they did not notice until their first full night in the apartment.

I think of this as a teaching moment. I am pretty certain that none of these young women will ever accidentally rent a place without a dishwasher again!  The interesting thing about this oversight is that they made some conscious decisions in selecting this new apartment:

1) It needed to be closer to campus
2) They were willing to give up an in-unit Washer and Dryer
3) The bedrooms are smaller and condition is best described as old.

They just assumed that if they found a place that met their needs and they were willing to sacrifice (no washer and dryer!) it would be ideal in every other way.

This won't be the last learning experience that these girls have when it comes to decision making, but I am guessing it is one of the first really big decisions that they have to live with the repercussions for an extended period of time.  So begins the process of teaching them to be well-informed real estate consumers.

The truth of it is that all of us start out expecting that every house will provide us with 'just what we want.' The fact that houses usually fall short is the reason that there is an industry called real estate!

Of course, when I talked to my daughter this morning, she was so happy with the location that--at least for now--she doesn't care about the hand washing they will have to do.

I am sure over the years, my daughter and her roommates will reminisce fondly about that 'cute apartment with no dishwasher' and it will always remind them of how careful they have to be when selecting an apartment to rent or purchasing Real Estate.  Chalk this oversight up to lessons learned and the beginning of three educated real estate consumers.

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Comments (4)

Tish Lloyd
BlueCoast Realty Corporation - Wilmington, NC
Broker - Wilmington NC and Surrounding Beaches

What a great time for your daughter and her friends! I remember well hearing the excitement in my daughter's voice when she rented her first place without input from my husband & I -- and 20+ years later she speaks fondly of that "crackerbox" she lived in at the beach. In her case, the location did make up for the slanting floors, non-existent closets and NO DISHWASHER! Wishing them the best of luck!

Jul 20, 2010 10:10 AM
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

What a great lesson your daughter and her roommates just learned! No home is perfect!

OK. Real Estate 101 was passed. Now it's on to the harder stuff for them!

Jul 20, 2010 12:07 PM
Lewis Beynon
CENTURY 21 Triangle Group - Raleigh, NC
Lew B Realty

WOW, I think I would freak-out if my kid's bought or rented a place and they overlooked something like a dishwasher.  Makes me wonder if I'll ever be able to stop telling them what to do and how to do it!!!

Lewis

Jul 21, 2010 04:20 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Good lesson. When you have to live with your decision for a while, it makes a big impression.

Jul 22, 2010 03:26 AM