With your kids at uni are you better off becoming a landlord?

If your son or daughter has started university this year in Exeter, then you’re probably already experiencing a significant drain on your finances – especially when paying for student digs is concerned! In many cases it’s now cheaper to buy a new home than rent one, which is why Taylor Wimpey is urging parents to escape the university rental trap by investing in bricks and mortar at its Chancel Park development in Pinhoe.

As the cost of rented accommodation increases you could find yourself paying thousands during your child’s time as a student, so why pay off a landlord’s mortgage when you could pay off your own? Acting as a landlord for your own child offers many benefits – not only are you likely to reap significant financial rewards, you know your main tenant and probably their prospective housemates as well.

Janine Davey, regional sales and marketing director for Taylor Wimpey, comments: “Student digs traditionally had a reputation for being pretty awful but today’s savvy students expect much more, which has led to both universities and private landlords investing heavily to satisfy their demands.

“Students and their parents are acquiring enough debt on course fees and living costs, but rent needn’t be an expense that is an un-recoupable. By purchasing a new home in Exeter for your son or daughter, you can invest in bricks and mortar that you own. Not only will they have a decent place to live during their uni years, you’ll also be investing in property at a time where prices are extremely competitive, so you should see a decent return on your investment a few years down the line.”

Chancel Park is an exciting new development of one and two bedroom apartments and three and four bedroom homes. The apartments are modern in design and would provide the perfect pad for your son or daughter, whether they want to live on their own or share with one of their friends.

The one bedroom apartments, priced from £144,995, feature an open plan living room / kitchen – perfect for entertaining, as well as a good sized bedroom, contemporary bathroom and allocated parking space. The two bedroom apartments are similar in layout but feature a second bedroom and are priced from £154,995.

Janine adds: “If you want your kids to have a bright future, then why not start them off on the right foot. We have a wide range of financial incentives designed to make buying a new home easier and more affordable, so pay us a visit and find out more.”

Chancel Park is located just over three miles from the centre of Exeter, so getting to and from University, as well as the adbundance of bars, restaurants and shops in the city, is easy. Pinhoe train station is around half a mile from the development, with trains into Exeter centre taking around 10 minutes.

See Also: Property News (6699), Taylor Wimpey (1857), Chancel Park (9), Exeter (33)