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Cascades Pointe Condominiums for Parents
Your Property Investment Starts Working Full-Time Even Before Your Student Does
The math part is easy - paying rent for four years can be a financial
drain, but an investment in acondominium
home for your student can represent financial gain. The purchase of
a near-campus property at Cascades Pointe Condominiums is easy, too.
For most individuals, mortgage interest is tax-deductible. There's
the roommate factor, too - if your student shares the unit with another
person who pays rent, your monthly expenses go down while you build
equity. Then, when your student graduates or moves, you can sell the
property or keep it to generate ongoing rental income.
We keep the purchase process simple: VIP Group's structure allows
our preferred lenders to provide special programs and incentives throughout
your purchasing process. We have established relationships with many
partners to make the purchase of your condo the easiest it can be.
Advise us of what you're looking for by completing our Preference
Form.
Compare Apartment Rental to Purchasing a Cascades Condominium:
3 Years Rent Payments
Rent
1 BR in an avg. apartment |
Roommate Factor* |
Appreciation |
Net Gain |
| $11,700 |
$0 |
$0 |
-$11,700 loss |
3 Years Mortgage Payments
Own Cascades
Pointe Condo** |
Payments |
Roommate Rentals* |
Appreciation |
Net Gain |
| 2 BR - purchased for $105K |
$21,528 |
$12,025 |
$42,000 |
$32,497† |
| 3 BR - purchased for $121K |
$24,804 |
$24,050 |
$48,400 |
$47,646† |
* Based on 2005-2006 average Blacksburg rent of $325 per BR per month for 3 years
+ $325 one time security deposit.
** Mortgage payment total based on 10% down payment; 6.5% interest over 30 years.
Prices subject to change without notice.
† Net Gain based on sale of property after 3 years. 40% appreciation based on historical market data (2003 to present).
Source: Southwest VA Appraisal Inc. licensed appraiser Todd Linkous 6/2006. Profit=condo value less down payment, principal, interest, taxes, and homeowners dues. Appreciation subject to market conditions; cannot be guaranteed by seller. |