University of Arizona Housing

Purchasing nearby campus

Purchasing a home for university, rather than paying for dorms or on-campus housing, can offer several significant benefits. First and foremost, investing in a property allows parents to build equity and establish a tangible asset that may appreciate in value over time. Unlike renting dorms or on-campus accommodations, homeownership offers potential financial gains in the long run. Additionally, owning a home provides a sense of stability, offering a consistent living environment throughout the duration of the student's college years. With a home, there's also more freedom to customize the living space according to personal preferences and needs, creating a comfortable and personalized study environment. Furthermore, purchasing a home can be financially advantageous in the long term, as mortgage payments may be comparable to or even lower than ongoing dorm or rental fees. Lastly, owning a home off-campus allows students to experience independent living and develop valuable life skills such as budgeting, responsibility, and home maintenance, fostering personal growth and maturity during their university journey.

Pros & Cons

I've worked with many parents to find housing for their students. At the University of Arizona, dorms range from $6,700 to $13,000 per year, which is comparable to living off campus and renting either a room in a shared house, or a small apartment. Over the course of 4 years, you may be paying upwards of $50,000 that could have been used to build equity in a home! That's not even including appreciation. One of the issues my clients have run into is limited availability and last-minute housing changes with dorms and rental units. If you don't plan ahead, you may wind up paying $2,000 - $3,000 a month for one of the luxury apartments nearby! Additionally, the headache of determining housing each school year may add unnecessary stress. Dorms typically have students moving out during the summer breaks. Students and parents have the burden of arranging how to manage all of their belongings over the summer. Having your own home will provide stability for your children, as their belongings will stay in the home. And best of all, they can choose their own roommates!

Check out what's on the market below. If you have any questions, or you want to "run the numbers," I can absolutely help with that! Use the contact form on my website, or give me a call at (541) 521-0145.