Is Buying A Home Near A College or University A Good Idea?
Buying a home is one of the biggest investments most people make in their lifetime, and choosing the right location is a huge part of that decision. For many, the idea of buying a home near a college or university might raise some concerns. After all, living close to campus could bring images of noisy parties or events and crowded streets. However, there are many advantages to consider when thinking about buying a home in a college town, especially in a state like Oklahoma, which is home to many respected universities. Let’s explore why buying a home in Oklahoma near a college campus can be a great decision.
The Advantages of College Town Properties
There are several perks to buying college town properties that many potential homebuyers may not realize. While a bit of noise and traffic are reasonable concerns, there are hidden benefits that make these areas attractive investments.
Great As A Future Rental Property
One of the biggest advantages of owning a home near universities in Oklahoma is the consistent demand for rental properties. Whether it’s students, faculty members, or university employees, there is always a steady stream of renters in college towns. This demand keeps property values stable and can provide a lucrative rental income for homeowners. In fact, many parents of college students choose to buy a home rather than pay rent for four years. They can then either sell the home or continue renting it out after their child graduates.
Economic Growth and Job Market
Oklahoma’s universities are economic powerhouses. Buying a home near colleges in Oklahoma places you at the center of economic activity, as universities often attract businesses, research centers, and tech hubs. For example, the University of Oklahoma in Norman provides a stable job market for locals, not just within the universities themselves, but through surrounding businesses that rely on the student and faculty populations. Big and small companies alike are attracted to these areas due to the influx of graduates looking for a job opportunity and the ability to grow within a specific field.
Increased Property Value Over Time
College towns often experience consistent economic growth, which can drive property values up over time. For example, homes near the University of Central Oklahoma in Edmond often see property appreciation due to the high demand for housing and the overall development of the area. As more people move to these areas to take advantage of job opportunities or educational prospects, property values tend to increase steadily.
Vibrant Community Life
Life near a college campus can offer a unique, vibrant community experience. From cultural events to athletic games, living near a university provides access to a wide variety of activities. Fall football is an especially beloved activity in Oklahoma. Imagine being able to walk to a home game or enjoy the excitement of a college town on game day! While cheering on your home team, you may meet players who move on to becoming NFL superstars. Fall football brings communities together, creating a sense of unity and pride that can enhance your quality of life.