davies top 5 tips 5 top reasons college students should buy instead of rent
TRANSCRIPT
DAVIES TOP FIVE TIPS 5 Top Reasons College Students Should Buy Instead of Rent:
1. It’s a Better Education Than Any College Class- Owning real estate, based on our
experience, prepares you for life and business better than anything else! There are
wonderful social implications, economic implications, and risk evaluations that
affect your future and the future of others. If you do not have a downpayment, you
have the opportunity to learn about partnerships and give others the opportunity to
assist you in your financial success. In addition, your chance to affect the composite
of a neighborhood can lead to increases in value to others homes, as well as yours.
2. You Have Time- At 20 years old, you would have a 30 year mortgage paid off at 50
years old. And still have more living to do! In addition to equity buildup, you are
also hedging yourself with likely long-term wealth building with increases in value.
Over the past 30 years in California, property values have multiplied 5 times.
3. Interest Rates are Unbelievable: Seriously…4.5% for Owner Occupied financing?
There was a day when rates were 16% and if they dropped below 12% everyone was
going to borrow all they could! At your stage in life, having cash flow is important.
With low interest expense, you have more cash available in general.
4. You Control Your Housing- No rental applications to complete, no landlord to call
and wait for on a plumbing repair, no threat of a lease expiring and nowhere to go.
Shall we mention the cost of moving every year of a 6 year average college career?
What about your childhood dog or pet chinchilla that you want to bring from home?
5. No One else is doing it! - We know, you have friends and family members that got
caught in the market slump. Fear of or actual financial ruin is keeping many would-
be buyers away from opportunities today, leaving them for your picking. Learn from
their failures, get a great real estate advisor with personal real estate experience, use
a combination of your gut and good analysis, and start looking!
DAWNA DAVIES • Davies Company Real Estate • [email protected] • www.DaviesCo.com