Given the rising rents in Philadelphia and the surrounding area, many students and parents are finding it more reasonable to buy a condo. Rents in the city are at $1300.00 to $1350.00 a month for a one bedroom unit.
Since students tend to be in the area for at least three years, they are good potential buyers. They are using their time in the city to advance their education and great an appreciated investment. Real Estate currently is a better investment than taking a chance in the stock market which has been under performing in the last few years.
There are many advantages to home ownership for students and their parents -
1.Stable housing costs 2.Location of your choice 3.Reduced transportation costs 4.Lenders are willing to finance the entire purchase price 5.Future income rentals 6.Ease of sale of units
My daughter attended Drexel University for five years to pursue her Engineering Studies. At the time, buying condominiums was not \'vogue\'. Had I done so, the value of the property now would be more than double.
If you have students going to College in the future, this would be a good idea to consider. The obvious reason is the appreciation will help in the future to offset the cost of your \'pricey\' education.
Nancy is an Accountant and Real Estate Professional. Visit RealEstateLady
Article Source: http://EzineArticles.com/?expert=NanWood
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