Should You Buy For Your College Student?

Now that it's halfway through college football season, nothing is all said and done until ONE football game - if you live in South Carolina that is. Yep. THE ultimate college rivalry between the Tigers in the Upstate at Clemson University and these fighting Gamecocks here in the Midlands. No matter what rank, what games won/lost, nothing matters until Thanksgiving weekend on Nov. 29th when the Gamecocks travel to Death Valley to take on the Clemson Tigers. No other games matter. Whichever team wins this game has automatic state bragging rights until next years game. Why am I blabbing about a college football game? Well, for starters: 1. I like college football. 2. I pull for those Tigers (growing up in Easley, SC and having family play ball for them). 3. I live/work/play in Gamecock country. and 4. It's a love/hate relationship when the Gamecocks win due to my career.

Columbia, SC is home to the University of South Carolina aka Gamecocks. The college has over 31,000 students that populate the Columbia area, specifically the downtown area since the college is located in the heart of it all. This makes the real estate market flourish. Why? Let me explain. For those of us that live in the downtown/in-town area, our property values increase. If you are an investor, buying a few properties and renting them out to the abundant supply of college students keeps your cash flow happy. And, if you are a Realtor in the downtown market (hint, hint) it means parents take advantage of the affordable properties to buy for their students. The on-campus housing is pretty steep at prices to upwards of $8,000 per year - for just one student! Now, I'm not in finance or a mathematician, but it's common sense. Example, say you buy a 3 bedroom home for your student around the $150k mark and his/her 2 other roommates at $500 per room and well - you can do the math. It pays your mortgage and your students housing is free or almost nothing all. 

While I'm pushing the 5 year mark in my real estate career, I've had the pleasure of helping many college parents purchase homes/condos for their college student(s). I absolutely love it. I love it because I get to work with the 18-20 something year olds and reminisce on my college days - ahhh, to be carefree again? I love it because I help the parents who are most likely from another state or city get to know the Columbia real estate market/area. And most of all, I love it because they trust me on the advice I give which influences their ultimate decision on where their son/daughter lives during college - undergrad, grad, medical, law, etc. 

Two teams, One State. - Lauren