homeownership 101

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wanderer
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Posts: 363
Joined: Tue Nov 26, 2002 9:33 am
Location: anytown, usa

homeownership 101

Post by wanderer »

College housing officials warn that students may isolate themselves by moving off campus, particularly during their first and second years.

On-campus students learn to get along with one another and are more likely to stay in school through graduation, says Christine Schramm, University of Dayton (Ohio) associate director of residential programs. Those in kiddie condos are "truly missing out on how students need to live in a community."

Students may find being a homeowner harder than it sounds, Baldry says. For one, they have to be careful about whom they accept as renters. Students "have a reputation for being wild and messy and moving out without giving any notice," she says.

The situation also could cause headaches for parents. "When your child calls at midnight and says the bathroom shower doesn't work, you're the one who has to fix that," Baldry says.

Most experts say owners will need three to five years to turn a profit.

LOL. So, the University of Maryland is doing a disservice to all its 10s of thousands of commuter students?

This sounds like a smart idea. Seems to me there are few periods in life when will you will predictably be in one place for five years. Still, I would buy property only with an intent to hold for 10 years (unless there is some unusual bargain involved).

http://www.usatoday.com/money/perfi/hou ... ndos_x.htm
regards,

wanderer

The field has eyes / the wood has ears / I will see / be silent and hear
Trex
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Joined: Sat Feb 22, 2003 1:16 am
Location: Tallahassee, FL

Post by Trex »

I usually begin by trying to talk "kiddie condo's" into staying in a dorm for a year(most especially if it's their first year). I met my best college friends in the dorm. You can bike or walk anywhere, less reliance on car. Library was about 200 yards away. Class is a roll out of bed and short walk away. No maintenance, walk to food. OTOH- dorms are expensive :wink:

Trex
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