Do You have a Student Heading to a RI College this Year? If so you should think seriously about buying a home for them to live in off campus. With rents at all time highs in RI, due to the lack of available rental property, buying a house as an investment in and around Providence for a Johnson & Wales, Providence College, Brown University or RISD student is a great way to secure reasonable housing for them. Every year students in Providence are on the RI house hunt for adequate housing in safe neighborhoods.
For students who are going to the University of Rhode Island (URI) in Kingston that task is equally daunting in locating a rental. Students and their parents have already started to call all the realtor offices looking for affordable housing for the fall term. Since most of the students prefer to live off campus after freshman year and 'down the line', rental homes are at a premium. Also, many of the URI students remain behind for the summer working in neighboring communities and house rentals are extremely high in the summer. The houses students rent for school from September to May become weekly rentals in the summer and command top dollar for the owners. It is a great time to search South Kingstown Homes for Sale or Narragansett Homes for Sale since URI students do prefer Narragansett best.
Why not consider a rental investment home at this time? It is the bottom of the market according to notable experts and an rental property provides stable housing for your child. Plus with 2-3 other student roommates paying rent you will be covering a good portion of your mortgage amount. When your son or daughter graduates, hold onto the house for investment, rent to other students or sell with some equity garnered over the 4 +(if they continue on to graduate school) years.
Wait a minute is your student on the 5 year plus plan plus graduate school at URI? Perhaps beginning on this RI house hunt will be the investment you needed for quite awhile. If you need a Realtor who was a RI student and knows the areas to buy in, please give me a call!
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This blog © and its contents is original to Ginny Lacey Gorman
Ginny L. Gorman a purveyor of Fine Waterfront RI Real Estate
Specializing in waterfront, ocean front, vacation, coastal and luxury homes for sale in North Kingstown, South Kingstown, Narragansett, Jamestown, Charlestown, East Greenwich, Exeter, West Greenwich, Westerly RI and beyond ... I sell dreams! because there is no place like home...the RI Realtor in the Sparkly Red Shoes.
Looking for a terrific Rhode Island Realtor? Let me GOOGLE one for you!
cell: 401.529.7849 office: 401.884.4100 ext.268 Ginny Lacey Gorman, Realtor