The Real Estate Encyclopedia
College Station Condos by Chris Tesch
Category - Real Estate Information Sources - Real Estate Articles

By Chris Tesch

Condos are one of the hottest segments of our market.  Though we have some that serve small families and singles nicely, our primary condo market is student living.  These can be one of the best investments a parents can make.  Condos have many advantages over rentals during a students four to six years here at Texas A&M University.

Apprecation is king!

Though some of the scenarios for condos will have you paying just as much for your share as rentals you will walk away with appreciation of, typically 4-7% per year.  A typical scenario (with your student paying no rent) is seen in Waterwood Condos.  The first year offering for these wonderful 3 and 4 bedroom condos in a gated community was approximately $142,000 for a 4 bedroom, 4 bath condo in 2003.  If you had financed this property with 20% down your payment would be $1039 plus the HOA fee of $120 per month (covers exterior maintenance, pool maintenance and lawncare) for a grand total of $1159.  Divide this among the 3 other roommates and their rent payment would be under $400 per month.  In this scenario if you sold this year you would sell for approximatly $160,000 or an increase of $18,000. 

Avoiding the Moving Day Hassles

Students living in apartments and other rental situations often find themselves in the situation of having to move.  If the owner of the condo that they are living in, in a rental scenario, has to move then they find themselves having to move as well.  Moving is costly and takes time for you, and subsequently them.  Buying a condo puts you in control of this potentially frustrating situation.

No Lawn Care Worries

Let's face it.  When the kids were home they could do the lawn, but not without a bit of gentle reminding!  Avoid this hassle by buying a condo as opposed to a single family home (though I do sell single family homes for students as well and we can go over the pros and cons).  Relatively maintenance free you won't be receiving voilation notices from the city of College Station when you go with one of these beautiful properties.

Wide Variety of Options

College Station offers a wide variety of condo options ranging from one bedroom/one bath (typically older with a bit of remodeling needed) for as little as $40K up to a luxury property featuring 4 bedrooms and 4 baths for between $100K and $200K plus.



References


External Links

www.christesch.com

www.bcsrealestatenews.com

 
 
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Real Estate Information Sources - Real Estate Articles
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