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Looking to Buy in a College Town? 4 Tips for Finding a House

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college townBuying in a house while attending college has a lot of advantages over living in an apartment. Not only do you have more control over who your roommates are, you have a lot more control over your living space. Every college student will tell horror stories of losing deposits over a scuffed kickboard or few nail holes in a wall. Being crammed in so tightly with hundreds of other students makes it difficult to get homework done or to ever get any quiet, even late at night. A house allows you to keep your own hours and can even be a great investment once you move on from university. Here are four tips to help find the right house:

  1. Start house hunting early. You should start looking for a house as early in the summer as possible. This is when current owners will be selling theirs off to new incoming students. They’ll be quickly snatched up by other buyers and rental companies looking for homes near universities, so be diligent about checking the listings and following up with the properties you are interested in. 
  1. Make your own must-have list. If you’ve ever house hunted with someone else, you know that the realtor asks them to have a must-have list. This list is just as important for you, even if you are planning on selling the house in four years when you are finished with your degree. Make sure you know what features are important to you. Do you want more bathrooms? A quiet basement for studying? Enough parking for more than three cars? Make sure you have a list of what you do and what you do not want. 
  1. Do plenty of research. The best way to make this process as quick and as painless for all involved is to do plenty of your own research before you start meeting with realtors. 
  1. Know what you want to do. Unless you are continuing on with your next level of education at that same university, you might be looking to sell the house. Alternatively, if you are not a student at all, you might consider renting your basement, spare room, or attic out to a student. This can help you cover your home loan or provide a little extra income.
AUTHOR

Matt Demorest, President

Matt is the President and Founder of HomeSure Lending. He has extensive experience working in mortgage, finance, business development, business operations and non-profits. Matt holds a Masters Degree in Youth Ministry Leadership. NMLS #1011726

All stories by: Matt Demorest, President

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