Your Guide To Purchase a Campus Crib As A College Student

Leaving for college is an important milestone - not just for the child, but also for the parents. It's an exciting time, but it's also accompanied by some trepidation and anxiety about the future.

Leaving for college is an important milestone - not just for the child, but also for the parents. It's an exciting time, but it's also accompanied by some trepidation and anxiety about the future. A living condition while going to college is one item that shouldn't worry either students or their families.

All of us have heard tales of how living in a dorm can be like the ongoing battle to locate a suitable place to live or the seldom-cleaned communal restrooms. This is why buying a student’s house is one of the rising trends across the nation. These homes are sometimes jokingly called "campus cribs" or "kiddie condominiums". If you plan on purchasing a campus crib as a college student, here is your detailed guide.

How to Find the Perfect Crib?

Know Your Price Range

While searching for a place, you must be aware of the cost of accommodations. The lodging options available here vary. You can opt to share a property, transfer into an apartment building designed just for students, or check into a homestay or on-campus accommodation option. Your options will be a lot more limited and it will be much simpler for you to select the ideal location if you know what your budget allows.

Choose a Good Location

Think about the location. The process of buying a place when going to college will be much easier if you have specific criteria in mind. It would be ideal to live nearby to your university, yet you might also select a city neighborhood. You will save a ton of time and money with any choice. Accommodations with good access points and the option to live in a lovely neighborhood are also available. The location of your property can affect your quality of life, so choose wisely.

Is It Worth It?

Choose a location that provides the best value for your money and a range of payment choices. Finding a property with amenities like a lounge, study room, kitchen, and laundry will also help you save money in the long run. Be sure your hotel provider has the services you require.

Consider Safety

A comfortable, secure place to stay is like winning the lotto! Being a college student in a new city, having a safe place to live is crucial. Your rental location, the neighborhood you live in, or simply having calm, polite neighbors might all play a role in your sense of security. Ensuring these things are there in your new house can significantly improve your quality of life.

Environment & Community

Last but not least, don't undervalue the significance of the atmosphere and sense of belonging! When it comes to deciding whether to sign a contract with an accommodation provider, these two factors can make or break your choice. Spend a moment observing the environment and getting to know potential housemates or neighbors. You may make new acquaintances and become a part of a community by renting a property that hosts free events and meet-ups. After all, enjoying your surroundings and your neighbors is key to a happy life.

Benefits of Living in Campus Crib


In actuality, convenience in university living goes beyond cooking and cleaning. The majority of cribs are equipped with amenities like wireless, cable TV, equipped rooms, on-site support personnel, security features, and even a gym, a store, and a laundry room. Indeed, sharing a room with some other person is a possibility when living on campus, but your resident manager is only a few doors away and may assist with any disputes. Even if the couch in your dorm room is a dreadful color, you won't have to move it out at the end of the academic year. Of course, it can be frightening to go home alone in the dark, but thanks to the campus's security personnel, safety systems, and check-in systems, you won't have to worry after just a late-night study in the library.


In addition to giving students a place to stay while not in class, campus housing also serves the aim of fostering a sense of community. Students have the opportunity to form bonds with their cohort and it aids in the development of a university identity. College is not like high school. You will spend most of your class time learning, and your courses will only cover the topics related to your major. This implies that a significant portion of your time will be spent with other students. You may interact and make new friends among students from a range of backgrounds by living in a campus crib. Moreover, it means you may participate in school activities and be updated on all the interesting events taking place both on and off campus.

How to Finance Your Campus Crib?

Your student property might be financed in a number of ways. To find out which ownership structure is most beneficial for you, consult with your accountant and lawyer. The simplest approach to purchasing a campus crib is using FHA financing if you want to have a title and put the least amount down. The FHA "Kiddie Condo" loan program enables students to co-borrow with a blood relative, which improves their loan eligibility. Mortgage rates are lower than those for investment properties, and down payments for this form of loan can be as little as 3% of the entire purchase price. Check your county's maximum FHA loan limitations to discover whether they differ by geography. 

On the other side, some people will decide to use traditional finance and a 20 percent down payment to purchase the home as an investment. By classifying the house as a second or vacation home with the Chase Family Opportunity Mortgage, your parents can pay less in points than they would on a mortgage for a rental property. 

An alternative to a loan with full amortization is an interest-only loan. Just using an interest-only loan has the benefit of lowering the monthly payment. Check the complex's owner-occupancy ratio whether you're buying a condo. The sort of finance you may get may be impacted by this. 

Your parents can also help you by assisting you in building credit. Ideally, they should get a credit card for you before making the transaction. Moreover, if you have a vehicle, it's an excellent idea to take out a personal loan on it in your name. This will boost your credit score.

Consider Drawbacks 

Before deciding on purchasing a campus crib, you should also consider some of the drawbacks that come with it. Here are the main ones.


For a college student, it can be hard to stay in one place for four or five years. You might decide to switch to a different school, spend a year abroad, or (heaven forbid) drop out and move back home. Putting all of your money into one place for your student to live during college could be a bad idea.

Additional Costs

You will often spend between $4,000 and $10,000 a year on room and board or rent, so a monthly mortgage payment is frequently not more costly. But don't forget to include in the other expenditures of owning, such as maintenance bills or insurance and taxes. There is a possibility that purchasing a property is not as financially prudent as you believe.

Reduced Privacy

Although living in a campus crib might provide you with a group of friends, it can also make it challenging to get away from everyone. Campus living might be a difficult transition if you're a quiet person who prefers alone and space. Yet even if you enjoy socializing, living on campus isn't necessarily the best environment for learning (or sleeping). Several universities provide single-person rooms or student flats where you can live together but have a private bedroom. If you require a peaceful, study-friendly atmosphere, check to see whether your institution offers honors housing or housing with tighter curfew/noise regulations. Every campus has its own culture.

Reduced Freedom

Speaking of policies, it's necessary to take into account the fundamental rules of living in a campus crib before deciding to reside on campus. The only way communal housing can function is with rather severe control and respect to regulations, despite the fact that it's handy and social. On-campus housing rules are generally outlined in most colleges' bylaws. The majority of schools have rules governing things like drinking, guests, and furniture. They might range from the obvious (no open fires) to the extremely severe(no singing). Many schools have different housing policies, which might be more restrictive at privatized or religious colleges. When reserving a dorm room, if you have trouble in structured surroundings, be sure you're ready for it and informed of the regulations.

Inadequate Appreciation

If you want to sell the house within four to five years after graduation, you may not get enough appreciation to cover the expenditures of purchasing and selling the property. Moreover, college towns often have below-average appreciation rates.

As the summer is getting closer every day, students who will meet with the college for the first time are pondering a relatively new question: with housing prices so low in much of the country, does it make more financial sense to buy a campus crib as opposed to paying room and board for a dorm or rent for an off-campus apartment? We hope this article has helped you make a decision and shown you how to begin your purchase.

Sophia Carlisle
Sophia Carlisle is a professional writer.
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