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Condo Better Investment Than Dorm Room or Rental

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 Condo May Be A Better Investment Than Dorm Room or Rental

Consider a condo for your college and professional sons and daughters.
Think about a condo for your graduate students.
Explore condos for both married and single individuals.

Consider investing in a condo if you or your child is attending a university, law school, medical school, or any other professional program in Baltimore. If you need housing for three years or more while pursuing your education, a condo could be the ideal choice. For those with temporary job placements lasting a few years, condos are worth considering, too. 

Parents, if your child will be studying or working in the Baltimore area, consider condos as a housing option. There isTBb no outside maintenance and solid security. Plus, bringing in a roommate can help offset condo fees.

 

Consider purchasing a condo for your college and professional sons and daughters, as well as for graduate students. Condos can be a great option for both married and single individuals.

If you or your child will be attending a university, law school, medical school, or any other professional program in Baltimore, investing in a condo may be a smart choice. This is especially true if housing is needed for three years or more during their education. Condos are also worth considering for those with temporary job placements lasting a few years.

Parents, if your child will be studying or working in the Baltimore area, think about condos as a housing option. They require no outside maintenance and provide solid security. Additionally, having a roommate can help offset condo fees.

Once college is complete and it's time to sell the unit, you'll have a valuable asset rather than just the cost of rent or student housing payments to show for those years. In fact, there’s a good chance you could sell the unit for a profit!

Buying or selling a home

Call Margaret Rome

 

 

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Posted by

Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


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Show All Comments Sort:
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Margaret- excellent idea Our good friends in KC bought a small house in Lawrence, KS when she attended KU. It was close enough for them to assist with maintenance and they kept it long after she graduated. 

Dec 07, 2024 05:32 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Kathy Streib 

Your friends knew what they were doing. If the house was relatively close to the university, selling or renting to another student would be an option.

Dec 07, 2024 06:29 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

This is so true!  I did this when I was in college, it was more affordable and I had a nicer place to live!

Dec 08, 2024 03:56 AM
Margaret Rome Baltimore 410-530-2400

Good for you, Brian England. I would like to hear more.  

 

 

Dec 08, 2024 07:18 AM
Brian England

Margaret Rome Baltimore 410-530-2400 my parents helped me purchase a 2 bedroom, 2 bathroom townhouse and I had a roommate that split the expenses with me and after college we sold it for a profit, haha.

Dec 08, 2024 09:38 AM
Margaret Rome Baltimore 410-530-2400

Brian England, You and your parents were brilliant at doing this! Thanks so much for sharing!

Dec 08, 2024 05:02 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Margaret, this is popular for us here in Stony Brook Long Island, with many international parents purchasing condos near the university to provide their children with a comfortable home during their studies!

Dec 08, 2024 04:25 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Margaret - there are abundant investment choices.  As buyers examine their options, and study plans to see how their education strategies (for themselves as well as for their offspring) possibilities seem to open.  T

Dec 08, 2024 05:14 AM
Margaret Rome Baltimore 410-530-2400

Michael Jacobs

This is a good option for educational purposes, and we, as agents could suggest it more often  

Dec 08, 2024 07:25 AM
Michael Jacobs

Margaret Rome Baltimore 410-530-2400 - thoughtful alternatives to off-campus or dorm life can be beneficial in multiple ways.  

Dec 08, 2024 07:40 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Margaret. Excellent idea in many instances and parents would be remiss not to consider it. Enjoy your day.

Dec 08, 2024 05:24 AM
Margaret Rome Baltimore 410-530-2400

So true, Wayne Martin 

And we need to alert these parents of this choice.

Dec 08, 2024 07:27 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Margaret,
The financial aspect aside, off-campus housing is a more conducive environment for studying, too.

Dec 08, 2024 06:22 AM
Margaret Rome Baltimore 410-530-2400

Carol Williams

It certainly would eliminate any 'wild' partying!

Dec 08, 2024 07:28 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Margaret,

You are so right! When my daughter was at UT one of her sorority sister's dad from Houston bought a condo on campus. He had 3 kids going at different times and they all took advantage of living there. Melissa and 3 friends moved in for 2 years and her friends brother moved in for 4 years as soon as they moved out! A wise invest for 12 years! he did sell at a considerable profit! 

Dec 08, 2024 07:55 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Dorie Dillard Austin TX 

And Father knew best!

Dec 08, 2024 08:16 AM
Roy Kelley
Retired - Gaithersburg, MD

This is good advice to share. 

Have a great day and an outstanding week.

Happy Holidays!

Dec 08, 2024 11:31 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Margaret there are special mortgage programs available for this type of purchase.

Dec 08, 2024 04:51 PM
Margaret Rome Baltimore 410-530-2400

George Souto,

Why not post on the available program (if you haven't already)? Please feel free to link it back here.

Dec 08, 2024 05:07 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Excellent idea, Margaret.  I know a few Sacramento families who have done just that.

Dec 08, 2024 04:56 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Clubgroup!  

Dec 08, 2024 04:57 PM
Margaret Rome Baltimore 410-530-2400

Myrl Jeffcoat

And they were savvy families. Thanks for the feature in OFC!

Dec 08, 2024 05:09 PM