Student accommodation is one of the biggest sectors of the property market but is seen by many to have somewhat of a bad reputation. Young Academic looks at the pros and cons of putting your money into a student house as an investment and also to be nearer to your loved ones as they embark on their studies.
Well, buying a property for your son, daughter or other family member when they go to you university could undoubtedly end up being a profitable exercise. Or perhaps you are heading to University yourself and you want to buy a house rather than get stuck in a house share, which can sometimes lead to problems. Indeed, once your or your family member has settled in you can even open the house up to lodgers and cover the mortgage payments with their rent, sounds like a winner right?
Money Making Tactic
Well actually it is. Although not always financially viable and there is no guarantee that you will find a suitable home near campus, this is a tactic which has been employed by many to great effect. The knack is being prepared and finding the suitable property for sale and of course, ensuring that is suitable for one or more students to live in. As with many things these days, the prudent plan of action is scouring the internet for the best and most reputable websites, in order to compare prices. There are a plethora of sites out there offering new homes in Glasgow, London, Nottingham, Oxford or any other city you can think of synonymous with academia. One such site is the Glasgow Solicitors Property Centre, which has helps with thousands of house sales every year.
As the biggest and most thriving city in Scotland, thousands of students flock there for their degree every year; representing a huge opportunity for money to be made through investment in property. This will be the case with the majority of the large university cities, so it is well worth seeing what facilities are available sooner rather than later.
What is important is to really do your homework. Now if you are already somewhat of an expert when it comes to property then you will already know this and no doubt have a plan in place. If not, this could be fantastic money making technique for you and your family as the new academic year draws ever closer.
Find Out More From Your University
You can find out a lot more about the options available for students across the UK when it comes to their accommodation by visiting Accommodation for Students. Alternatively, you can take a look through the rest of the Young Academic site or even get in touch with your prospective Students Union. But if you are looking to invest in a student house over the next few years, it could well turn out to be a lucrative ploy if executed correctly.