Hi TN Mom,
I guess it depends on what you mean by "investment."
If pay rent for 4+years will you have anything to show for it at the end of that time....no.
If you want to have something of value that you would be paying on over the same period then yes.
If you want something that is guaranteed to increase in value....there is no guarantee that at the end of your use of the unit that it will have increased in value. Having said that, it will be worth something which is better than the nothing you would have paying rent.
If you mean by investment....buying a unit or two and becoming a landlord, that is whole different ballgame. Although there is potential there for making money, there is a great deal of responsibility that goes along with that.
A lot of factors come into play. Location of the unit. Management of the unit. Care and maintenance of the unit. Some units in the Fort have been well cared for and held their values. Others not so much.
I think you need to consider the risks of how much you are wiling to put into it and ask some very hard questions of your situation. Can you afford to do this? How much of your resources will be required to do this? At the end of your college time, what if it has not increased in value...will that be OK? How hard will it be to sell? Could you keep it and become a landlord yourself.
If you have an agent, I'd suggest that you sit down and explore all of these questions with him/her. An agent can help you avoid a lot of the pitfalls associated with such a purchase.
Hope this helps.
REALTORÂ®, Broker, e-PRO,GRI
Hop Bailey Co.
310 Forest Park Blvd
Knoxville, TN 37919
"The Extra Mile Is Never Extra"