One of the challenges you will face as a new student is housing. There is no perfect answer for all students. For some renting is a good option while for others buying a home, living in it while attending school, and then reselling afterwards is a great option. Ferris has rules on housing so be sure and check that out to be sure you are within guidelines for living off campus. You have to be at least 20 years old prior to the first day of class in the semester which you attend or live with a parent or legal guardian within 50 road miles of University.

 

    On my area links page there are a few local housing rental companies that deal mostly with students. There are links on that page to take you to their sites to see what is available. I will be dealing with those considering purchasing Big Rapids Real Estate instead of paying rent on this page.

 

    One of the biggest advantages of buying real estate vs. renting is the building of equity which, when you sell, can allow you to recoup most of what you have invested. Even better is when you sell for a profit. Then you not only get back all of your money, which you would have paid in rent, you walk away with money to use for a down payment on another house wherever you are planning on living. If you decide to move a couple of friends in to help make payments it gets even better.

 

    There are challenges with real estate ownership that you don't have with renting. Maintenance is a big one. If you want to make the most of your investment, you will need to maintain the house you purchase. Things like lawn care, painting, and other repairs are all now your responsibility. There is no landlord to tell. For most people it is a matter of making good inspections prior to buying the home and regular maintenance after you purchase. It still beats paying month after month to someone, knowing that your money is gone forever. If you have done your research and chosen a Big Rapids Real Estate Realtor that has your best interests in mind, home ownership can be a great tool for students

 

    When choosing a Realtor I always recommend a FULL-TIME Realtor that has both a cell phone and email. Check and recheck how long it takes to get ahold of them and how long it takes for them to respond. It is just wrong to spend three days waiting for a response because your Realtor only works realty part time and they are busy at their other job. And then, when they finally get back with you the house is already sold. Another thing to watch for when buying in town is to KNOW THE ORDINANCES relating to student rentals. If you are planning on living alone you're fine but if you plan on someone moving in you need to know BEFORE YOU BUY what the rules are.

 

    If you are thinking on buying give me a call or email me and we can go over your options. I am a FULL-TIME Realtor that has helped many Ferris students get homes. I know where and who to check with on zoning issues and am willing to work evenings or weekends to be there when you need me. My son goes to Ferris and I understand the scheduling challenges and will work around your schedule. Below is a link to a calculator used by the United States Housing and Urban Devlopment (HUD).

 

 

     Here is a link to a renting versus buying calculator that HUD uses on its website:
CLICK HERE FOR RENT VS BUY CALCULATOR
(Opens in new window)

 

         CLICK HERE TO TRY OUR MORTGAGE PAYMENT CALCULATOR

 

         RENTERS TRY OUR AREA LINKS PAGE UNDER RENTALS

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