Should You Buy Real Estate in a College Town?

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Should You Buy Real Estate in a College Town?

There are a variety of reasons you might consider a real estate investment in a college town. Perhaps you’re a parent trying to house your university student, or you’re a young professional looking for a lively location to reside. Whatever your motivations may be, there are both pros and cons to New Hampshire college real estate.

In this article, we will break down everything you need to know about purchasing real estate in a college town.

The Benefits of College Real Estate

Plenty of Entertainment and Activities

College towns often have a vibrant culture with endless opportunities for fun and entertainment. If you are looking for real estate with nearby restaurants, festivities, music events and sports games, New Hampshire college real estate is guaranteed to provide.

A Wide Array of Career Opportunities

Large college towns usually have plenty of career opportunities for young professionals and post-grads. Younger residents are drawn to real estate in these areas because of the youthful age demographic, and entry-level positions that welcome growth opportunities for new prospects.

Cost Effective Investment

Depending on the city, college towns may offer a budget-friendly alternative to large metro areas, without compromising entertainment. Real estate in college towns is also fairly easy to sell due to the high demand from new renters that cycle through every year.

Public Transportation and Walkability

Similar to larger cities, college towns are set up for young students to navigate the area easily and efficiently without needing a car. If you are looking for New Hampshire real estate for sale, locations like Hanover and Durham make it easy to walk to surrounding areas or utilize public transportation.

The Downside of College Real Estate

Young Demographic and College Culture

While some people enjoy the lively nature of college towns, other residents may find it disruptive to be in the midst of rowdy college kids. There is constantly a new influx of students every year which means the hustle and bustle of downtown areas are always booming with nightlife. The nature of New Hampshire college real estate will largely depend on the area of town you choose, but residents need to be prepared for a younger crowd.

Excess Noise

College towns are known for being noisy, especially if you live near stadiums, restaurants, or the nightlife strip. If noise is an issue for you, choose housing that is a little off the beaten path. For example, NH college town homes for sale may be noisier than a house where you aren’t sharing a wall. In the end, it all depends on the individuals. Many college students prefer to be right in the heart of the fun, whereas post-grads might enjoy a quieter lifestyle.

High Turnover Rate

If you want to rent your property out at some point, expect a high turnover rate. Although there are a lot of renters in college towns, many kids move, graduate and go home for the summer. Don’t expect to sign a long lease and be prepared to deal with new renters that come and go periodically.

The Off-Season

New Hampshire college real estate is bustling during the school season, but the surrounding areas will probably turn into a ghost town around holidays and summer break. Some residents enjoy the quiet breaks during these periods, however, some people live for the vitality of college towns. Either way, make sure you’re preparing for the off-season.

Is New Hampshire College Real Estate Right For You?

If you’re considering purchasing New Hampshire real estate, there are definitely plenty of benefits of living in college towns. Nevertheless, it’s important to weigh the pros and cons just like you would for any real estate investment.

College towns are not right for everyone, but they can definitely be a fun place to settle down or house your child during their university years. Further, college real estate is the perfect opportunity to rent out your property once you or your child graduates.

Are you looking for New Hampshire college real estate?  Contact us today, your trusted and knowledgeable Verani Realty REALTORS®. Call your local Verani agent or visit verani.com for more information.