Sonoma State University Students - Where will you live?

By
Real Estate Broker Owner with Safe Haven Realty CalBRE# 01433049

SSU campus


Sonoma State University is a 4 year college located a mere 3 miles from my office. I get calls all year round from college students and their parents asking if I know of any rentals available in the area.

Lately, though, many out-of-area parents are opting to buy a condo or home for several reasons:

1) it provides a stable place for their child to live for the duration of their studies
2) on-campus housing is extremely expensive and temporary
3) home values are at 50% (or less) than they were in 2005
4) it's an investment opportunity that can thrive beyond college years

Rentals haven't grown on trees here for over a decade. There has been relatively no new construction in this area due to the downturn in the market. Supply and demand has driven rental prices to a point where the only way to get by is to have several students pool their resources together for a place to live.

So why not buy a home or condo in the neighborhood of your choice and rent the spare rooms to mutually compatible students? That seems to be working well for many parents who have the means to do so. Rooms rent easily (at the time of this post) for $600 each. A three bedroom unit would provide a home for your student and generate income of $1,200. A four bedroom would generate $1,800.

Real Estate is cyclical, and history has proven that home values go up and home values come down. Home values are down, the only place for them to go now is up. If you factor in probable appreciation, your investment could pay for your child's housing and more.

If you would like to consider buying a home in the Rohnert Park or Cotati area for your Sonoma State University student, give me a call and let's talk. I have lived and worked in this area for over 23 years, I know it well. I'm a resource ... utilize me.

 

Posted by

Cynthia Larsen is the owner and broker of record for Safe Haven Realty and has worked and lived in Sonoma County for over 25 years. For more information about Sonoma County, check out the commuinites of Bodega Bay - Cotati - Rohnert Park - Santa Rosa - Windsor.

 

To view all available homes for sale in Sonoma County and individual communites, please visit Sonoma County Homes For Sale Online!

 

 

Cynthia Larsen
Broker/Owner - Safe Haven Realty

Sonoma County, California, USA
(707) 332-2560

www.cynthialarsen.com


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Comments 8 New Comment

Rainmaker
526,129
Cynthia Larsen
Sonoma County Real Estate Broker
Safe Haven Realty

Barbara - with home and rental prices the way they are right now, it only makes sense.

Pete - You're right, a home in a college community means you will always have available renters ... usually with parents who co-sign as well.

Scott - I didn't even think of the sibling aspect ... or cousins? Just another positive reason to buy!

August 28, 2012 12:34 PM
Ambassador
1,395,023
Tammy Lankford
Your Lake Sinclair Expert (706-485-9668)
Lane Realty

we have three local colleges here and many parents do the same thing.  Frankly kids getting to choose their roommates is really important.  Good friend has a son in college in another state and complex just rented a "room" in his apartment to a druggie.  When he went to management they just said call the police.  Really like a 19 year old needs to be worried about the retaliation after the druggie gets out in 15 minutes.  

August 28, 2012 12:42 PM
Rainmaker
526,129
Cynthia Larsen
Sonoma County Real Estate Broker
Safe Haven Realty

Tammy - I sold a home to parents whose son didn't drink. His son was able to choose other non-drinkers to room with him which helped him with his studies ... which you can well imagine.

August 28, 2012 01:24 PM
Rainmaker
1,295,635
Roger D. Mucci
Lets shake things up at your home today!
Shaken...with a Twist 216.633.2092

It really makes sense Cynthia, if the parents can afford to do it, why not, and it's great for the children for many reasons.  Selecting their own roommates is a big one!

August 28, 2012 01:49 PM
Rainmaker
526,129
Cynthia Larsen
Sonoma County Real Estate Broker
Safe Haven Realty

Roger - I agree, you have much more control on who you live with, and you can establish the ground rules as well.

August 28, 2012 04:47 PM
Rainmaker
526,129

Cynthia Larsen

Sonoma County Real Estate Broker
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