Before investing in any property near a college [tag-ice]campus[/tag-ice], keep these important tips in mind.
There will be cars, kids, guests, etc. College neighborhoods are not ghost towns.
That means if you or your future tenants like plenty of peace and quiet you, or they, may be in the wrong place.
2. Campus Expansion
College and university campuses are growing machines. They have to be.
Many are building new buildings which means lots of construction and all the inconveniencies which come with that.
That can also mean new zoning. Will you be ready for that?
Worse- your home or [tag-self]property[/tag-self] could be taken for [tag-tec]eminent domain[/tag-tec]. After all, all of this higher education is for the benefit of the public. Right?
3. A Different Way of Life
A lot of people have a romantic view of college life.
I’ve lived near a college campus most of my life and I can tell there is a downside. It’s not quite as idealistic as it seems. Don’t let the quaint houses such as beautiful Tudors with well clipped hedges catch you off guard.
(Keep this in mind even if your property is several blocks from the campus).
We have plenty of foot and bicycle traffic and I can tell you they don’t always follow traffic laws and etiquette.
Cars are constantly having to slow down or stop to avoid hitting pedestrians who tend to stroll right out in the middle of the street. And that’s where they’re going to stay, thank you very much.
Did I mention the pet traffic also? Maybe I forgot, but some pooches have not been properly trained to respect your lawn sometimes. And their owners don’t seem to care.
Should You Still Invest or Not?
To sum it all up there are tremendous opportunities for investments near campuses.
But you really have to know what you are doing. This type of investment is not for the novice and you must take the time to do quite a bit of due diligence.