After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.
For a first-year university student, deciding where to live can be challenging. There are many things to consider, such as finances, how close to the school you are, and if you have or need transportation. Living in a dorm and renting an off-campus apartment both have their advantages and disadvantages, Take a look at some considerations before making your decision.
Structured Living vs. More Freedom
When you break down living in a dorm vs. living in an apartment, you must take into consideration how much freedom you want in your lifestyle. Dorms tend to be more structured and have rules and regulations that must be followed. These can include how loud your music can be and what visitors you can have in your room.
Dorms also have resident advisors who can help you make the adjustment to college life and sometimes act as a shoulder to cry on if need be. They are also there to enforce the rules and keep the residents safe.
Apartment living, on the other hand, will give you more freedom to live how you want. Typically a tenant is left alone unless they are too noisy or don't pay their rent on time. This means you can have guests over as much as you want as long as you don't disturb others.
Space and Amenities
If you don't need a lot of space, then a dorm room might be enough for you. Living in a dorm features a single room, often shared by a roommate. There is usually only a bed, dresser and desk as furnishings and you will need to use a communal bathroom situated centrally in the hallway.
Apartments offer larger living spaces with separate bedrooms, a kitchen, bathroom and living room. You may also be lucky enough to be in an apartment building with amenities such as a pool, exercise room and even party rooms which can be rented out at a reduced rate to tenants.
Leases and Parking
When renting an apartment, a student needs to think about the type of lease they are signing. For many apartments, there is a longer contract term, such as a year. If you do your research, you most likely will find student friendly buildings that offer short-term leases which are only for the length of time you are in school. If you wish to continue living in the building for the remaining length of your school career, you could opt for a longer lease.
Parking may also be a concern for those who live off campus. The cost of parking on campus might be high unless the school offers off-campus students reduced rates. If you live in apartments near university of your choice, you could opt for transit or even walking.Share