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Home near Cal State Northridge: to buy or not to buy

buy home near cal state northridgeIn my previous post I touched on the subjects of where to buy and what types of properties to buy, if you’re thinking about buying a home near Cal State Northridge (CSUN).

Today, let’s discuss whether it’s a good idea in general to own a home near a university.

At first, it might seem like buying a home near Cal State Northridge is a great investment. After all, you have a constant client base, with new students looking for housing each year.  Unless the university closes, you’re assured of that same stream for as long as you own the property.

Additionally, students tend to be less conservative about how much they’re spending on housing, since they’re either not great with budgeting, or their parents are helping cover their costs.  So, it’s entirely possible that you’ll be able to charge a few percent higher rent to students looking for a home near CSUN, than those people living in other neighborhoods.

Let’s look at the downside…

Students tend to move each year.  Because of this, you’re probably going to need to paint the walls, hire a cleaning crew and get the carpets professionally cleaned every year.  You’ll also need to spend time and money advertising your property to renters each year.

Students also don’t always care for their home the same way long-term tenants would. They have parties where food and drinks are spilled. They don’t maintain appliances the same way either.  So, you’re more likely to need to replace or fix items on a regular basis.

All in all, you have to ask yourself: Is the cost of ownership and turnover going to negate any extra earnings or steady income that comes with owning a property close to Cal State Northridge?

I can’t make that decision for you.  All I can do is track down the best properties to buy near Cal State Northridge and ensure that you have the best possible experience in your home search and purchase.

When you’re ready to buy a home near Cal State Northridge (or anywhere in the San Fernando Valley) give me a call at (310)926-2386 or contact me through this website to get started!

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