CU Medical Students. Invest in Denver Real Estate and Pay Off Your School Loans When You Graduate!
Going to medical school is a great investment in yourself! But it is a very expensive one. Most CU Med school students have a long commitment to education. Whether it is for nursing, dentistry, psychology or any other medical expertise, you will leave school with a great set of job skills but you will also leave with a big debt.
One of the big costs associated with this time is housing. When the student comes to the Anschutz CU Med Center at Fitzsimmons they have a few options. There isn't really aren't a lot of choices for student housing, but there are several rental options. However, these are typically top of the market rentals and Denver is currently having it's best rental market which is creating even higher rents. Combine that with all of the national experts saying that Denver Real Estate investment is the hottest money making tool going, and you have a no-brainer decision.
Lets just take an example of 5 years. $1000 a month rent for those 5 years you will have spent $60,000 on rent that is just wasted. Compare that to if you owned a home during that time frame. That $60,000 would at the very least be about $56,000 dollars of a tax write off which (depending on your tax bracket) would mean about a $20,000 in taxes coming back to you. It also pays down the loan some. Of course on top of that there is any equity that builds up. The last few years haven't been the best example but even very conservatively estimating. With 3% per year on a $150,000 home, you have also gained another $23,000 in equity.
So instead of losing $60,000 you have made $43,000, that is a over $100,000 swing. That can go along way towards your student loans. On top of all of that the stability that you can build by being in a steady home. Improving it, making it home and not having to move every year or facing rental increases from a landlord. Other advantages include more stable neighbors, roommate income, and at the end of the day since most students do rent, your short term investment can become a long term investment in the CU Med Center. Keeping a rental for future students and making money building your real estate portfolio.
There are many options to look at. Stapleton is a new community that is less than a mile away from campus and has a very hot market. The adjacent neighborhood to the East is an up and coming neighborhood primarily due to the development of the CU Med Center campus at Fitzsimmons, I have named it Westerly Creek and it has been labeled as one with the "biggest upsides" in Denver looking forward. There are homes in the affordable housing program that are a great fit or homes or condos that are maybe closer to the downtown hospitals that might also work. Lowry and Aurora are also great options that are very close by. Either way looking into the possibility of buying is a very smart decision.
Please call the KnopHomeTeam and we can look at what works best for your plan and make your time at CU Med School not only pleasurable but profitable.