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Son or Daughter Going to the University of Colorado (CU)? Buy a Home Instead of Paying Rent!

By
Real Estate Agent with Resident Realty

Son or Daughter Going to the University of Colorado (CU)?  Buy a Home Instead of Paying Rent!

The CU Boulder on-campus housing (and meals) is approximately $12,400 a year. (Two semesters) This adds up.

Student off-campus rent over fours years can add up to a large amount of money. Typically, this can run in the area of $24,000 to $48,000 or more, over four years.

Consider purchasing a condo or single family home. You can rent out extra rooms to friends of your son or daughter to help pay the monthly mortgage costs, or, have a place to stay when you visit your daughter or son.

Instead of paying a landlord you can gain equity in an investment.

When your daughter or son graduates you have the option of holding the property as a rental or selling.

Though home property values in Boulder are higher than most Colorado cities due to its desirability, there are condos available from the low 100s on up. The median price of single family homes is in the upper $300s in Boulder.

There are also many opportunities in the nearby communities of Superior, Louisville, Lafayette, and Longmont all within about a 10-25 minute drive to the Boulder campus at very reasonable prices.

Please contact me for more information. www.coloradorealtor@email.com

Search for condos/single family homes at yourcastle.co (not “com”)

Roy Johnson

Realtor/Parent

Your Castle Real Estate

Comments (3)

Sharon Lord
Maracay Homes - Peoria, AZ
New Home Advisor

Roy - we preach the same plan here in Phoenix, where 60k+ attend ASU.  Why throw away money on dorms/rentals when you can build equity and cash-flow if you rent out the other rooms...?!?!?

Mar 20, 2011 01:22 PM
Eric Peltier
Eric Peltier - Premier Mortgage Group - Boulder Colorado - Boulder, CO
Mortgage Lender in Boulder CO

AND....If you want to know how to do the loan as an owner-occupied and thus save on downpayment requirements and interest rate, there's a way.  Call me.

Eric Peltier
Premier Mortgage, Boulder
303-302-3906

Mar 21, 2011 08:46 AM
Kathy Clulow
Uxbridge, ON
Trusted For Experience - Respected For Results

Roy - it certainly makes sense to me or at least it did until the new home we bought was never used by our children who decided to go to a different school after we bought it. Then the market went south. 

Mar 24, 2011 09:08 AM