If your son is going to Penn, I have proprietary information on a Fitler Square Condo development now closing out. There are just a few units left. Call me at 215 266 7227 and I'll fill you in on the details.
#1 Sales Agent 2008 @ Coldwell Banker Preferred â€¢ Society Hill
I have had some parents choose to purchase a simple studio or 1 bedroom condo for their student, others have chosen to purchase a home with a few bedrooms and then rent the rooms out to their child's fellow students. As far as area goes, there are more condos available on the east side of the river rather than right in University City. So that may come into consideration for you as well. Both areas allow simple access to Penn.
This is a great idea. Anyone who is planning to buy now and stay in a property for 5 years or more will be in a good boat as far as I am concerned. Interest rates are great right now and property values are reasonable!
You could buy it for your son who is in college and then when he is ready to move out, you may not want to sell as you may be able to get great rental cashflow. Depending on how you strategize your numbers this may be a better investment for you. Either way, it will be a great investment if you plan to hold it for the 6-7 years. But always look at the condo fees, assessments and review the condo docs before making a final decision. Do your research. I would happy to help you with this if you have not already employed a Philadelphia REALTOR to help you.
Did you know there are only 6 months left until the Free $8,000 tax credit expires?
Start looking NOW â€“ the average homebuyer takes 2-3 months to find and settle on a home
The deadline to settle is November 30th 2009â€”do your friends a favor, tell them to call us today
Coldwell Banker Preferred
223-225 Market Street
Philadelphia PA 19106
WINNER OF 2008 COLDWELL BANKER ACHIEVERS SOCIETY AWARD
Considering interest rates as well as values are both at an all time low right now, if you are able to financially carry it, yes it is a good investment. Just make sure to buy in a building where there are not many delinquencies as that will have an effect on your financing as well as any assessments the building has. Good Luck!
Ameritrust Mortgage Associates, LLC
Philly Office 267-479-0260
Boca Office 561-417-9221
Peter Lavelle, GRI
Citizens Premier Real Estate
(215) 396-0500 x 3440
Cell (215) 906-6702