Daytona Beach Alternatives to for College Students and Parents

Daytona Beach is home to Embry-Riddle Aeronautical University, Daytona State College and Bethune Cookman University. The University of Central Florida has a campus here and Florida State University medical school has a campus here. While many students stay in college dorms and off-campus rental apartments and homes, some smart parents buy a home while their children at attending local schools.

There can be some very nice advantages to buying an Ormond Beach or Daytona beach duplex for students. First room and board is going to be about $30,000 or more for four years. That money is sunk and gone after it’s paid. Dorm rooms are also very small. They do offer the convenience of being on-campus, but at the cost of space and privacy.

Some parents take the route of buying a home for students while their attending college. The economics can be impressive when you consider that a good part of the $30,000 or goes toward paying down the mortgage or stays in the parents bank account. It gets even better when roommates share the property with the student. Rent is collected and this goes towards expenses. Rent from the roommate can pay for the entire cost of carrying the property. Then at the end of four years, the property can be sold, or you can keep it as a rental property or vacation property.

A duplex can be even better for many students. Your son or daughter can live in one side, while the roommates live in the other. This gives complete privacy while still having the benefit of roommates paying rent. It can be a beautiful thing. Your tax advisor can give you some additional good reasons for buying a home for your child to live in while they’re in school.

Daytona State College has no on-campus housing, while Embry-Riddle and Bethune Cookman do not have enough for all students. It’s very likely that your child will live in off-campus housing during their college years in Daytona Beach. Why not consider purchasing a duplex and walking away will less of a dent in your bank account after four years.

For more information on our duplexes, give Lynn Byrne a call at 386-566-7503. We have several properties available right now.

Tags:   Buy a Home for College Students · Daytona Beach Duplexes · Off-Campus Housing · Ormond Beach DuplexesNo Comments