Housing on or around the UCF campus averages $700 per month, or approximately $3,000 per semester. Over the course of your students college career housing costs could creep up to $25,000-$30,000.
How can your student live rent free?
If you purchase a home for an incoming freshman who has 2 or 3 roommates each paying $500-$600 per month you will cover your mortgage and your student will be living in the home for free. Your student will be your eyes and ears, keeping watch over the property, and you will have peace of mind knowing that your student is living in a safe environment.
Property values in Central Florida are at a 5 year low and with today’s mortgage rates a $150,000 home near UCF could be bought for as little as $1,200 per month. But, let’s not forget the most important part of this equation- this is an investment property and you have many options after your student graduates:
- Your student continues to live in the home after graduation a with or without roommates
- Your student moves out and you continue to rent the property to other UCF students or a family
- You sell the home and any equity is pure profit (maybe that will help pay for some student loans)
There haven’t been many times in recent history where this type of investment is possible. All the pieces of the puzzle have to line up just right- and lucky for you, your student is going to college at a time when home ownership makes complete sense.
We would love to discuss this opportunity with you and your student- please give us a call to learn about the types of properties that are available and what type of qualifications need to be met to make all this possible.