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Robyn, Other/Just Looking in Williamston, MI

My son is a student at Coastal Carolina and some of his friends are renting in this area. He is interested in

Asked by Robyn, Williamston, MI Sat Mar 7, 2009

renting on Wild Wing Blvd also. Who can I talk to about availability and cost?

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Hi Robyn:
I see no one has answered your question. I think that's because as realtors we don't usually handle rental properties. Of course, we work on commission and we don't get compensated on rentals. I have helped so many families when they have sons/daughters who attend Coastal. They buy a condo, and the roommate(s) rental portion helps pay for the mortgage. When child graduates, they usually inexpensively refurbish the condo (paint and replace furniture where necessary) then resell. It makes a lot more sense than paying rentals and having no return on investment.

I researched for you and there are about 30 good choices priced in the $80-95,000 range - all furnished except one which is priced at $79,000. If you buy a condo for $85,000 and put 10% down, I figure your monthly expenses at approximately $900/month (that's everything" mortgage, taxes, condo fee, electric, etc.) If two students share the condo, it would be roughly $450/month for each. This would be the about the same as they would have to pay in rent for a two bedroom. The townhouses on Wild Wing Blvd. that you referenced should rent for much more and none are furnished.

Prices and interest rates are so low, it's an ideal time to seriously consider buying. Then when you sell - you will have appreciated enough to cover selling costs and possible make a slight profit. The real advantage is that you were getting a real return on investment and not just pouring rent down the drain.

As a realtor, if I can help you consider this, just let me know and I will e-mail the listings for your review.

Dee Weiss, ABR, CRS, GRI, SRES
Senior Sales Associate
Licensed in SC & NC
Coldwell Banker Chicora
N. Myrtle Beach, SC
Toll Free: 877-347-1156
Cell: 843-222-2124
I love referrals!
0 votes Thank Flag Link Wed Mar 11, 2009
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