BUY vs. RENT
How would you like to avoid moving multiple times over the course of your college career, losing security deposits, having to rely on management companies to send someone out for repairs, as well as all of the other woes commonly associated with renting? On top of that, I am sure you would like to avoid throwing away money each month on rent.
The way I see it, you/your parents will likely spend around $400/month on rent. You will be in college for four years, some of you considerably longer and for a few of you brainiacs out there, maybe less...but lets just say four years at $400/month...that's $14,400 on rent, not counting any security deposits that you lose.
If you take that same $400/month and combine it with the $800/month that your two roomates are paying you to live in your place, then you have $1200/month to cover your mortgage payments. Now, instead of spending the $400/month on rent, you are putting it to work for you by building equity in real estate.
If property in the LSU area continues to increase in value, as it has over the recent years, it is possible that your property could increase in value by $30,000, or even more, over the course of four years. This equity gain, along with the money you will receive from the principle that you have paid down with mortgage payments, will be a very nice down payment on your next home.
By the time you complete college, you will be way ahead of the rest who chose to rent. Those who chose to rent will have spent over $14,000 on rent, with nothing to show for it while you could be sitting on as much as $35,000 or maybe even more.
If you think the numbers in your specific situation vary from those that I used, plug them into the Buy vs. Rent Calculator, which you can get to buy clicking the link under this one on the homepage.
Don't hesitate to contact me with any questions regarding how we can make this a reality for you. I can even arrange a meeting with a mortgage broker who can really fine tune the numbers.