Buying student accommodation can be an attractive solution for many. They may be solving their student children’s housing needs through this investment or looking for another income stream.
If you are simply buying student accommodation because your children need somewhere to live for the duration of their university course, we would strongly guard against an investment of this sort.
You will need to consider your exit strategy – what will happen to the property at the end of your child’s studies? Will it be suitable for an assured shorthold tenancy? The time frames involved are unlikely to allow you to see a profit if you don’t wish to continue to run the property as an investment for some years to come.
If, however, you have identified the benefits of buying student accommodation as an investment, then combining it with providing your child with a home for the duration of their university stay makes sense. However, it’s important to remember that once your child has left the property, its care and administration are likely to become more burdensome.
If you’re considering buying student accommodation, there are several things to consider before you begin your search:
You may still want to invest in student accommodation, but you could consider the following:
If you are considering buying student accommodation as an investment strategy, you will need to research where the demand is the highest and expected to continue.
Monitor the universities that are still being built but consider your market segment carefully. Clean, well-maintained, more communal older properties will still have an appeal to a certain demographic.
If you would like help and advice when it comes to buying student accommodation, then contact us today. Our regional directors have inside information on the property market in their area and will know the best places for investing. They can also help you select the house that best suits your target market. Get in touch here.
For more advice on investing in student accommodation, you may find this article on Your Money useful.
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