Why This Texas A&M Parent Chose to Buy Instead of Rent: A Real Estate

Why This Texas A&M Parent Chose to Buy Instead of Rent: A Real Estate Case Study
(How You Can Save Thousands and Build Wealth While Your Child Attends TAMU)

As a real estate agent in Bryan-College Station, I often work with parents of Texas A&M students who are frustrated with the high cost of rent. Many wonder: "Isn’t there a better way to house my student and save money?" The answer is yes, and in this case study, I’ll show you how one Aggie parent made the smart choice to buy a property instead of continuing to throw money away on rent. Not only did they save thousands, but they also gained long-term financial benefits, including property appreciation, rental income, and tax advantages.

The Search for the Right Property

In Fall 2023, a Texas A&M parent came to me with a clear goal: she didn’t want to keep paying rent for her daughter over the next few years. She preferred to invest in a property that could serve as a home for her daughter and potentially generate rental income. Her initial criteria were specific: a single-family home with 3 bedrooms and 3 bathrooms, close to a bus stop, and with no HOA fees.

However, finding the perfect property on a budget proved challenging. After looking at a few options, we realized the criteria needed to be adjusted. That’s when we expanded the search to include condos.

Condos: A Game Changer

We looked at several condo communities around College Station, including Lakeridge, The Woodlands, and Gateway Villas. Ultimately, Waterwood Townhomes stood out as the best fit for my client. This community offered:

• A 4 bed, 4 bath layout—providing room for income-generating roommates
• A gated community for added security
• Strong amenities that would attract student renters
• A price point that worked within her budget

But just as we were ready to move forward, we hit a roadblock. The inventory in Waterwood was limited, and it seemed like we had missed the opportunity to snag a great condo for her daughter. As the months passed, my client’s daughter was getting anxious about securing housing for the 2024 school year. Most TAMU students sign their leases by March for a July move-in, and she didn’t want to be left living with strangers. 😬

The Last-Minute Opportunity

Just when it seemed like we’d run out of options, a beautiful, updated 4 bedroom, 4 bath condo in Waterwood hit the market. Priced at a reasonable $289,900, it checked all the boxes: updated, clean, and ready to move in. Timing was everything—luckily, my client’s daughter hadn’t signed a lease yet, and we were able to move quickly to get this property under contract.

Thanks to our earlier research, my client was already familiar with the layout and community, so a FaceTime tour with the family was enough for them to feel confident about making an offer. The inspection report came back clean, with just a few minor repair requests, and we were able to close in late April.

Maximizing Rental Income

One of the best parts about buying a 4-bedroom condo is the rental potential. My client’s daughter already had one friend lined up to share the space, but we needed to fill the other two bedrooms to offset the mortgage payments.

Here’s the strategy we used to fill those rooms quickly:

• My client’s daughter posted in various TAMU Facebook groups dedicated to rentals, roommates, and subletting. These groups are gold for student housing connections.
• Once a prospective roommate responded, my team stepped in to handle the screening process for both the student and their guarantor (usually a parent).
• Within a month, we had screened all the tenants and secured Texas Realtors leases for each room.

With all three rooms filled, my client was able to significantly reduce her out-of-pocket housing costs, and her daughter had a home filled with friends, not strangers.

The Financial Breakdown

Let’s break down the numbers:

• Purchase Price: $289,900
• Down Payment: ~$58,000
• Closing Costs: ~$5,000
• Total Monthly Cost (PITI + HOA): ~$2,200
• Rental Income: $1,800 ($600 per room x 3)

This left a monthly gap of $400, but with the condo’s potential for 4-5% annual appreciation in College Station, plus the principal paydown, tax benefits, and rental income, this investment was a no-brainer. The added peace of mind knowing that her daughter had a quality home made it even better.

Key Takeaways for Texas A&M Parents

If you’re a parent with a student at Texas A&M, here’s why buying a property might be a smarter option than continuing to pay rent:

1. Turn Rent into an Investment: Instead of paying thousands in rent each year, you could be building equity and generating rental income.
2. Stability: Give your student a reliable home for their time in college, plus control over who they live with.
3. Financial Benefits: Enjoy appreciation, tax write-offs, and the ability to rent out rooms to offset the mortgage.
4. Peace of Mind: Knowing your child is living in a safe, well-maintained home is priceless.

Conclusion

For this Texas A&M parent, buying a condo was a game changer. Not only did she secure a great home for her daughter, but she also created an income stream and a long-term investment that will continue to grow over time. If you’re thinking about doing the same, let’s connect. I can help you navigate the process, find the right property, and make the best investment for your student.