After a year of paying rent for a crappy apartment, I bought a townhouse in my college town for $110k. That was almost 15 years ago. Prices peaked in 2006 at 180k, now creeping back and currently selling for 150-155k. I owe about $80k. HOA fees negligible, <$50/mo. Utilities $150.
Market rent is $1k through a property management company, max of 2 occupants per HOA and zoning. College is state-run, highly ranked, and enrollment is growing. Place is on a campus bus line. Population in the city expected to increase, but I do not see much employment growth outside of higher ed and healthcare.
So, what do you say? Hold and rent or sell and run?
I already bought a new place for a new job about an hour away. Have some family in the old area that can look in on the place if needed.
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