The Good & Bad Of Buying A Property Near Fanshawe College

So you’re looking a buying a home near Fanshawe College…

HERE IS THE GOOD & THE BAD

THE GOOD:

- It’s not the most expensive area (If you’re looking for a Student Rental, it’s much less than near Western University)

- Lots of students want to rent there by the room that could give you great income.

- For buyers from out of town who have a child that is going to Fanshawe for school and who is open to living in and looking after the property, this can be a great option. If the plan is to pay for your child's accommodations for school anyway, the huge amount of money you would be blowing in annual rent to someone else for your child to live near Fanshawe could turn into a pretty good investment. (Caveat: If you have a child that is up for this and is truly a good fit for this. Many people love their kids, but wouldn't trust them to make sure a home is properly looked after, and interact with the other students well.)

- There’s great public transportation that can take you anywhere you want to go in the city.

- Lots of shopping, restaurants & other amenities nearby. (Like Oxbury mall at Oxford & Highbury)

THE BAD:

- The closer you get to Fanshawe, "lots of students want to rent there by the room" haha!! ...and like to party! (should you want to live there after taking possession or at some point later.)

- If your intention is to NOT to rent to students by the room in that area and just move in yourself or rent to a single family, lenders may not believe you, and not lend to you. (Many "A" lenders and insurers don't want to touch student rentals.)

- If your intention IS to rent to students by the room...

> It can be a lot of turnover and you. (More finding and qualifying of tenants)

> You would need to get a rental license

> Some investors prefer to not interact with students all of the time. (Hiring a property manager can solve this, but it in turn, eats into profits. What often happens is newer student rental landlords change to renting to someone/a couple/family that will be in the property long term with less turnover, and hopefully will look after the home really well and pay rent regularly without any problems.

If you'd like to chat about this!: 226.777.1000