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If your son or daughter is heading to Northern Arizona University (NAU), you’re likely thinking about more than just their class schedule. Finding safe and affordable housing is a top priority, and the housing market in Flagstaff, Arizona, can be a challenge. While on-campus living is an option, it’s not always a guarantee. Many students are now looking to the community for a place to call home, and for parents, this opens up a unique opportunity: buying a home for your student.
The NAU Student Housing Situation
NAU has a large student body, but the number of available dorm rooms and on-campus apartments can’t keep up with demand. This has created a competitive and often expensive rental market in Flagstaff, leaving many students to search for housing off-campus. The high cost of rent and the limited number of available units can be a stressful process.
For parents, this situation is not just a problem—it’s a chance to make a smart financial decision. Instead of paying rent for four years with no return, you can invest in a property that your student can live in.
Buying a Home as a Student Housing Solution
Investing in a Flagstaff home for your NAU student offers several major benefits:
- Financial Investment: As a homeowner, you build equity over time. This means that a portion of every mortgage payment goes toward owning the property, not just paying a landlord. When your student graduates, you can sell the home, and you might see a significant return on your investment, especially in a market like Flagstaff where property values tend to rise.
- Rental Income: If the property has extra bedrooms, your student can have roommates. This is a common and excellent way to generate rental income that can help cover the mortgage payments and other expenses. It can make owning a home more affordable than you think.
- A “Home Away From Home”: Owning a home provides a stable and comfortable place for your student. They won’t have to worry about finding new housing every year or dealing with rising rent. It’s a secure base where they can focus on their studies.
Making a Strategic Real Estate Investment in Flagstaff
The Flagstaff real estate market has a lot to offer. From single-family homes near campus to townhomes and condos, there are many types of properties that can work as a student residence and an investment. When you start your search, consider factors like:
- Location: Is it close to NAU? Is it on a Mountain Line bus route? A great location can make the property highly desirable for future tenants or buyers.
- Property Type: A multi-family home (like a duplex) can be a fantastic investment because it allows you to rent out multiple units, providing a steady stream of income.
- Resale Value: Look for a property with features that will appeal to a wide range of buyers, not just students. A home with a good layout, a yard, or a garage can be a great long-term investment.
A Trusted Partner for Your Real Estate Journey
Navigating the Flagstaff housing market requires an expert. When you are visiting Flagstaff and considering this important investment, you need a local realtor who understands the community and the unique aspects of student housing.
We highly recommend connecting with Bob Baronas, Associate Broker with Coldwell Banker Northland. Bob is a dedicated professional with deep knowledge of the Flagstaff real estate landscape. His expertise goes beyond just finding a house; he can help you understand the potential for rental income, property management, and the overall investment potential of a home in the area. His experience ensures that you will have a partner who is looking out for your family’s best interests.
If you’re a parent of an NAU student, don’t just rent a place for four years—invest in their future and your own. Contact Bob Baronas to start exploring the opportunities in the Flagstaff housing market today.
