How to buy an affordable home for students?

Asked by Homebuyer, Hilliard, OH Thu Mar 18, 2010

We would like to find a home which will save us money and the property should be located in Hilliard. The property might be sold like short sale, foreclosing or as it is... (my friends can help do some repair/renovation things ). Please assist us. Thanks a lot.

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8
Jason Tuttle, Agent, Columbus, OH
Sun Aug 19, 2012
Call me I may have a house for you that a member of my VFW is going to lose, she needs to sell, amy work something with you.
0 votes
If I don't just buy it myself.
Flag Fri Jan 11, 2013
Don Bush Team, , Columbus, OH
Thu Mar 18, 2010
Temecula is a neat town! I was looking to build condos there in 1999. The finacier backed out.
0 votes
Dianne Hicks, Agent, Rancho Bernardo, CA
Thu Mar 18, 2010
Homebuyer
First and foremost you need to have the financing. Go and speak with a lender and see what you qualify for. You can look at some many homes and find out that you cannot fund any of them. Know your price range before going to the next step.

Good Luck!!!
Web Reference:  http://www.di4homes.com
0 votes
Don Bush Team, , Columbus, OH
Thu Mar 18, 2010
Buy with a Realtor who knows the University Area you are concerned with. If it is a (FSBO) For Sale by Owner --DEFINITELY--have your own Realtor, you are swimming with the sharks, perhaps. Lease-to-own MIGHT work, but I must say that sellers have been VERY RESISTANT--especially in a high return University Area.

Consult a Realtor dealing in the exact area.
0 votes
James Deskins, Agent, Worthington, OH
Thu Mar 18, 2010
0 votes
James Deskins, Agent, Worthington, OH
Thu Mar 18, 2010
Homebuyer, need more info on your financing. Who's paying for the home? There are specific loans out there for students who's parents want to buy a home for them. Contact me and I can get you in touch with a lender that does this if that's what you are trying to do.

FYI, I am very familiar with Hilliard, I have worked with many buyers there.

Jim
0 votes
Dan Chase, Home Buyer, Texas City, TX
Thu Mar 18, 2010
First, find out your price range. Then start looking for a realtor. Do not forget to look at http://www.forsalebyowner.com not all properties sell through the MLS realtors use.
0 votes
Don Tepper, Agent, Burke, VA
Thu Mar 18, 2010
Don't bother with short sales or foreclosures. You need a specific type of property for students, and preferably the right type of financing.

Specific property: Usually 4-5 bedrooms, and at least 3 baths. Preferably a finished basement with a separate entrance--maybe even an inlaw suite. Adequate parking.

Best financing is to control the property with a lease-option. That way, you're paying the rough equivalent of rent, rather than the amount you'd be paying with a mortgage.

And make sure the parents of the students are co-signers on the lease.

Those are a few of the basics.

Hope that helps.
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