Not all second homes are in sunny, resort locations near a beach or lakefront location.  Some buyers are buying second homes in college towns across the country.  They serve several purposes….a place to house your son or daughter for a few years while they attend college, a place for the parents to use when they come to visit and/or attend college sporting events, or they can be used as plain old investment property. 

Any of the above mentioned reasons are good, but use as an investment property, it’s a pretty smart choice.  If you think about it, you are almost guaranteed renters since most off campus housing near universities is tight to begin with.  In addition, more and more students attend college year round or choose to stay at college for the summer so even the months of May, June, July, August you are likely to have rental income.

Another interesting fact is that college towns are increasingly more popular desitnations for retirees.  Typically they have good sports, culture, restaurants, shopping and city services.  Many are in quaint villages or towns.  One such college town is Flagstaff, Arizona…home of Northern Arizona University.  One of our Great Second Homes members is Ann Heitland of RE/MAX Peak Properties.  Please contact her for advice and information.  She has several listings very close to NAU.