<p>It is a four to five year investment, in lieu of paying $16,000 per year for putting S or D up at an expensive dorm. What kind of condo/apartment would be available in Madison area?</p>
<p>Where does it cost $16K per year to live in a dorm?</p>
<p>Here’s a one-bedroom condo for $197,000 2 Blocks from the Capitol (615 sq feet and views):</p>
<p>[309</a> W Washington Ave, Central Madison, Wisconsin Condominium for Sale - Capitol Neighborhoods Neighborhood - FSBO Madison Real Estate](<a href=“http://www.fsbomadison.com/details.asp?ID=14352]309”>http://www.fsbomadison.com/details.asp?ID=14352)</p>
<p>Here’s a 2-bedroom for $184,000, also in walking distance to campus (910 sq feet):</p>
<p>[6</a> N. Allen Street, Central Madison, Wisconsin Condominium for Sale - University Heights/Regent/Monroe St. Neighborhood - FSBO Madison Real Estate](<a href=“http://www.fsbomadison.com/details.asp?ID=14654]6”>http://www.fsbomadison.com/details.asp?ID=14654)</p>
<p>Madison85 is right – your estimated cost for the dorm is much too high. </p>
<p>Current (2010-11) cost of room AND BOARD is only $7,690 per year.
<a href=“http://www.admissions.wisc.edu/costs.php[/url]”>http://www.admissions.wisc.edu/costs.php</a></p>
<p>Thanks for the information. On the high cost, I was talking about high-end private dorms in Luck101, ranging from $8550 for a double and $17,100 a for Premium single…</p>
<p>WOW - $17k for a premium single at Lucky!</p>
<p>I’ve thought about this avenue myself. Lot of variables, though. 'Course, if it’s your 2nd home, there’d be no interest write-off. I DO think, however, that if any real estate market has a chance of appreciation over the next few years, it’s Madison. I believe the desirability of UW-Madison will be growing significantly over that time.</p>
<p>House about 2 miles south of campus that D is living now was bought by her friend’s parents, I think it cost in the low 200’s. They did a lot of rehab work & probably aren’t making a lot on it right now, but it’s a nice, funky place with a big yard and a view of the Capital. And it’s right on the bus line.</p>
<p>These were very popular in some markets going back to the early 80’s in Austin where they really took off for a few years–then crashed along with everything else. I knew some guys that bought a house while they were in school at UW and did OK on it. Unless you can get a real deal I’d say no.</p>
<p>Well, guys, think about QE 2 where Uncle Sam is printing $$ like there is no tomorrow. Put nest-egg in housing may be a bit safer? </p>
<p>Yes, Barrons. I was in Austin in 1990’s. I just missed that crash. Now it rebounded fairly well. It is getting really expensive in Austin today.</p>
<p>Not a big fan of this strategy … it’s my kids college experience and I want them to pick the living situation they prefer … dorm, frat/sor, or apartment.</p>
<p>Condo market in Madison is saturated. Only 4 buildings in entire city are seeing positive 5-year returns. </p>
<p>If you’re buying now, who knows, but in general, too much supply. </p>
<p>If you want high-end dorm, do a single in Lucky101 where you’ve got your own bedroom in a 4-bed/2-bath. Double is great too and half the price. Premium single is silly for first-year as it’s a 1-bedroom apartment to yourself.</p>
<p>Great information, MNBadger! Thanks.</p>
<p>Making your child live in a condo off campus and away from other students is not a good idea. It is much easier to adjust to a new city and campus with others like you, such as in Res Halls or the private dorms/apts with student services. Madison does not have the culture of student owned condos- resale may be difficult, especially when potential buyers find a college student lived there for 4 years. It is enough to be a new adult away from home for the first time without needing to take on all of the household management issues- cooking and cleaning a kithchen and bath, even if you handle all of the finances involved. The conveniences of dorm life while making the adjustment to college outweigh the loss of space of home. Social opportunities are much better as well with other students.</p>
<p>Please be willing to spend the money on a dorm room or even the private places with the connections to campus life. It will be a much better experience for your child.</p>
<p>Certainly agree with wis75 that, for freshman year, Res Halls are the way to go. Sure, the rooms are smallish. Sure, as an adult you say ‘how can they EXIST like that’, in a shoebox with all their ‘stuff’ that they drag up to campus (I can only relate to girls here).</p>
<p>I made the mistake of visiting D’s Lakeshore dorm room the week before finals, and I literally had to shovel a path just to find some floor space to walk. D & roommate were in there somewhere studying & laughing their heads off. No problem! She’s in a house this year but definitely looks back at her dorm experience very fondly.</p>
<p>Oh, one more thing, FWIW. The Res Halls foodservice has, bar none, the best overall variety & quality I’ve seen in ANY college, period. Check out the UW website for nutritional information on all items sold at any dorm cafeterias or cafes. D is a Weight Watchers member & that info was a godsend. I think that’s what tipped the scale–no pun intended–for her to attend.</p>
<p>“So, if the dorm is so great, why move out to house or apartment?”, asking on behalf of my teenager…</p>
<p>^ because there is often a time and a place for certain experiences and then people often move on … whenever I hear someone saythey do not want to live in dorms as freshman I cringe … that certainly can be the right choice for some peope but I’d guess for something like 95+% of college students the best way to integrate them into the school social fabric and to make a lot of friends as a freshman is to live in a dorm. Sophmore years and on the students are ready for whatever is next … stay in a dorm, move off campus, join a frat/sor, etc … just the natural progression of life. kxc, this is somewhat serious question … do you still live in your childhood room at your parents? if not, why not? Is that not the same question as asking why someone moved on from freshman dorm life?</p>
<p>What 3togo said. Time & a place for everything. What a freshman might find a P.I.T.A. but tolerable & fun because everybody’s in the same boat–lack of privacy, collective bathrooms, etc.–often becomes tiresome by sophomore year. One year in the dorms is a rite of passage to be sure, and usually is enough for most students.</p>
<p>What about condo market surrounding ohio state? My folks were thinking about that as the condo market there is also incredibly weak. There are kiddie condo loans with about 4% down (so my mom says), so $80,000 condo costs $3200 down. Rent $400+$200 taxes and insurance +150 utilities +200 condo fee. If 2 bed + 1 bath and renting out half it might make sense at $500/month.</p>
<p>Does anybody have comments on condo market at Ohio State?</p>
<p>It’s very easy to build in Columbus so I doubt they get much appreciation on average.</p>
<p>In my opinion, if inflation is a problem down the road (due to QE1 and QE2), and if you have some money to spare, it would be a good idea to invest in acquiring a rental property.</p>
<p>Seriously? As a realtor i see the economic advantages and disadvantages. As a mom and alumni, I think the dorm experience is part of the whole college experience. Wherever my son decides to go, he is staying in student housing his first year to be sure. Condo never crossed our lips and he is having fun researching the different dorms.</p>