The newest property investment niche is buying real estate in a college town where the great mix of affordable homes and higher quality of life include low crime rates, better-than-average schools, thriving cultural venues, and quality health care facilities/providers make the living easy. Rutgers University completed a study in 2009 which found "the presence of a college in a town is associated with home values 10% higher than those in non-college communities." The Rutgers study revealed that the beneficial home values increased "when a 4 year college is located in the community." Buying real estate in New England towns which feature some of the best colleges in the nation offers an added bonus. The ability to live near to metropolitan areas while enjoying the benefits of rural living in beautiful mountain settings with unspoiled nature within walking distance.
According to Kiplinger.com "college towns are a draw to many active retirees looking forward to golden years filled with culture, creativity and learning." A Coldwell Banker survey confirms what real estate professionals have long known_ college towns offer a great mix of affordable housing and an unsurpassed quality of life." Renaissance retirees aren't going to be satisfied with sitting on the front porch in rocking chairs relaxing as life speeds by them. This new brand of retiree is passionate about life and discovering new ideas. Physical activities including living near to cultural and learning and sport venues appeal to the Renaissance retiree.
The NYDailyNews.com says "college towns appreciate more than most other towns in both good and bad times because they have a steady supply of students and teachers." In fact, in downturn economic times like these enrollment in colleges increases as unemployed workers seek education for new career opportunities. Homes are available in many New England college towns right now at the lowest prices seen in several years. Banks are lending at the lowest rates in many years. Buying a home in a college town may be one of the best deals a Renaissance retiree can make. Scoring a touchdown with both low home prices and low interest rates plus gaining a home field venue where learning, culture, sports, and community center around a 4 year college is the best game in town. Call us here at Harsch Associates Berkshire Real Estate located in Williamstown MA (home of Williams College, chosen by Forbes 2010 at the top college in the nation) to talk about becoming a Renaissance Retiree in the Berkshires. 413-458-5000 or www.harschrealestate.com