As a parent of a GATech student, you may be wondering about what the options are for Georgia Tech Off Campus Housing.
An you may especially be wondering if purchasing a condo for your student is a wise decision. Hmmm….
Georgia Tech Off Campus Housing | Cornerstone Village
Cornerstone Village is the best, and most affordable location for parents looking to purchase a condo for their son or daughter to live in while attending Georgia Tech. It’s an easy walk to Tech Square (where the Business School is) or access further onto the main campus (across the Downtown Connector) can be done by walking, or taking the Tech Trolley or Stinger Bus.
And if you are wondering how prices are doing at Cornerstone Village, just look at past sales prices for two-bedroom homes. In 2012, a 2 bedroom condo sold for $173,500. In 2014, just two years later, a similar floor plan sold for $193,500. A $20,000 increase in prices in just two years! Will that trend continue? Most likely with the limited inventory available in Midtown Atlanta in general, and certainly at Cornerstone Village.
As a comparison of what you might pay, step into the next block and look at Spire Midtown Atlanta where 2 bedroom homes are selling around $340,000.
If you are thinking long term investment (like renting the condo when your student is finished) just know that the wait list to get a leasing permit (you have to have an HOA approved leasing permit to lease almost ANY condo) at Cornerstone Village is right around 5 years. So, if you purchased now for your incoming Freshman, or even Sophmore, and they finish up in 4 years (or and extended plan of longer) then you might clear that waiting list. Now you in turn, can rent your condo out to other GATech parents that were not able to purchase when you did, but are still looking for that Georgia Tech Off Campus Housing.
Buying a 2 bedroom gives your son/daughter the option to have a room-mate (or 2) to help with the overall costs of the condo.
Buying a Midtown Atlanta condo as an option for your student to live in Georgia Tech Off Campus Housing is worth of consideration. Just look at this great new listing for a 2 bedroom that just came on the market. Perfect timing for the upcoming Fall Semester, don’t you think?
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