Starting university can be an exciting and challenging time for any individual. Many experiences that are to come are new. To some people, this can be a very scary time as they have moved out of their comfort zone to start this new chapter of their life. Finding the right environment to go to after one is done with their day can be a great assistance in translating a positive university experience. This is why it is extremely beneficial to find real estate that will not only be a great investment in their experience, but potentially for their future as well.
Quite often, the two major options when going to university is renting or purchasing a residence. Renting a place often provides many negative aspects including having very little control over the situation you are in. As an example, you run the risk of dealing with rent increases over time. Other negative factors are feeling rushed to take what is currently available at the time for fear of losing out as the term draws near. In addition, there is a great risk that you could be near the noisy and/or rowdy neighbors. While with rental properties if something does need repair the property owner is required to fix it, you are dependent upon the time frame of that person for the repair to be done.
Conversely, while owning your place does require you to pay for your own repairs, it also means that you can have these done on your time schedule. In addition, the repairs that you put into the house and additions only increase your own equity, rather than that of someone else. In addition, the money that you are displacing during the purchase goes towards your equity, and not that of another individual. Fear of buying and then reselling in a poor market should be no fear in these types of markets. If you do find when you are done with the property that the market is down, you could rent the property until the market turn for the better. Universities areas such as real estate near Simon Frasier University makes for high demand rentals and potential long-term income.
The type of property you wish to invest in can be determined by the type of experience that you are looking for. Typically, in these areas it is common to find townhouses or condominiums available. Townhouses are often houses with two floors with historic features depicting a simpler time. They host the same features as the more modern condominiums, but are more affordable than condominiums. Condominiums come in many varieties including attached or detached housing. These are often in metropolitan areas quite often within walking distance of many shops, restaurants, and places of interest. Condominiums offer their owner a typically raising equity value as these types of housing are often in high demand.
Both styles of housing offer amenities such as pools, tennis courts, and other common areas. In addition, both of these styles also have homeowner association (HOA) fees associated with them. Typically, condominium fees are put towards the upkeep of the common areas and some shared exterior areas. No matter which style of housing you purchase, it is always beneficial to purchase real estate when preparing for university.