Purchasing a townhouse might be a more attractive option for a home to buy compared to living in a traditional single-family house. From being more affordable to having less maintenance compared to other homes for sale, you'll want to look into what you should be prioritizing when buying in a town that has a lot of college students.
With some of the unique challenges real estate can have in a college town, consider the following tips for making sure that you're able to buy the right home.
Stay Away from the College Area
When you're buying a townhome in a college town, it's important to avoid neighborhoods that are close to the school. The problem with these areas is that it could be full of a lot of rental units that can make property values go down. College areas can also mean that the homes aren't taken care of as well as possible, making a lot of the homes not a good fit for buying.
Finding a townhome away from the college can lead to more affordable prices as well, allowing you to get a home that will be a good match for your budget.
Consider How the Features Affect Prices
As you check out different townhomes for sale, it makes sense to pay attention to how the features can make some homes more or less expensive. Features such as a lot of bedrooms suited for college students can increase the price a lot, as well as a yard being harder to find in dense neighborhoods.
In order for you to feel comfortable with the price you pay for a house to buy, you should look into which features you want most.
Look into Options for Rental Properties
One of the benefits of buying a townhome in a college town is that it can be easy to find people to rent out a spare bedroom to. If you're interested in earning a bit of money on the side, you can look for rental properties that have a spare room so that you can use it as a rental property as well as a place for you to live in.
If you're eager to buy the perfect townhome, you'll want to see what you can look for to make sure that you're not overpaying. With the above tips, it should be much easier to narrow down townhomes to ones that are priced right and a good match in a college area.
For more information about townhouses for sale in your area, contact a real estate agent today.