As parents of students at the University of Colorado (CU), we know how it feels to search for the right housing situation for your child. We’re also specialists in the Boulder real estate market, and want to help you find the perfect condo or home that not only suits your needs best, but also makes financial sense for you. We are committed to using our extensive experience to anticipate the needs of you and your scholar, and find your ideal housing solution.
When your student moves out of the dorms after their Freshman year, parents will quickly be faced with where their student should live. From our experience, students will feel the pressure to secure their living situation prior to the holiday break in their freshman year. The majority of students will choose to live off campus. There are several different geographic locations for students to live:
- The Hill: The most popular and socially active is called University Hill (known as “The Hill”), which is west of campus. This area consists of mostly older, larger (3-6 bedroom) homes. The price point starts at $700,000- 1 million+.
- East of Campus: The next area is on the east side of campus, off HWY 36/28th Street. Here you will find many large condo complexes and smaller homes starting around $400,000.
- Baseline Area: To the south in the Baseline area (across from Williams Village), you will find older brick ranch homes starting at $500,000 with good size lots.
- Downtown Boulder: Finally to the north, closer to Pearl Street, there is a mix of both condos, townhouses, and single family homes, both old and new.
When considering whether to rent or buy, here are just a few of the advantages of owning a property near campus:
- Appreciation: Market appreciation has recently averaged at least 10% a year. When your student graduates and you sell the property, the gains can offset your CU students’ educational costs.
Here is an example of the appreciation for a 4 year term on a $350,000 condo.
Year 1 $350,000
Year 2 $385,000
Year 3 $423,500
Year 4 $465,850
- Second Home: Condo/homes for your student can qualify as a second home helping to offset expenses.
- Tax Benefits: Parents can receive tax benefits from the investment (taxes, insurance, interest).
- Peace of Mind: Your student having a secure living situation year after year brings a parent peace of mind!
Having sold CU investment properties for the past 10 years, we can help you and your student navigate the process and explain the benefits of buying vs renting. Some families hold on to the property after their student graduates as the rental rates continue to climb. Buying does make sense in Boulder – and don’t forget, if you own, you can visit our beautiful town anytime you want!
If you have additional questions, contact Jill Muller and Sibyl Liedtke, or visit CUmomsSellBoulder.com.