Student Accommodation Check List For Property Investors
The availability of affordable housing is the most important factor for students
living away from home, according to a new survey conducted by FreshStart Living.
As part of a student living study, researchers found that low-cost housing that is modern and in a convenient location is most favourable, with nearly 42 per cent of students aged between 20 and 24 years old stating that most university-owned accommodations are much too expensive.
One respondent from a UK university said: [Accommodation] is another payment from your loan which is meant to see you through each term. When you are paying tuition fees and living costs on top of rent, affordable housing is usually the biggest payment so the cheaper the better.
Another student stated that expensive housing will reduce financial allowances for food and other necessities.
If housing would have been cheaper I wouldnt have had to have a job in my second year, taking time away from my degree and ultimately affecting my overall grade. Students get in enough debt as it is, a lot of housing agencies could afford to not make as much profit to provide students with a better chance of not being in debt for the rest of their lives, one respondent added.
Furthermore, one final-year student suggested that even the highest possible loan amount does not cover some first year halls, meaning students are stressed, having to work long hours and often ask for help from parents.
With the recent hike in tuition fees, it has been expected that an increasing number of students would opt out of living in student accommodation and choose to go to university closer to home to save money.
However, according to FreshStart Livings student living survey, three-quarters of students would not be encouraged to stay closer to home as a result of the cap on tuition fees being risen.
Last year, the coalition government decided to increase the cap on fees to 9,000 a year for all UK universities.
The Guardian recently reported that UCAS figures showed a dramatic drop in the number of university applications in the last year the lowest in 30 years.
While some commentators have suggested there is a direct link between the rise in tuition fees and the number of applicants, others have claimed that graduate unemployment figures have encouraged youngsters to go straight into work after leaving school.
Surprisingly, out of the respondents, 58 per cent said that the hike in tuition fees has not affected the price they are willing to pay for good quality student accommodation. However, 41 per cent of people claimed they would think twice about the amount they would pay for rent if they were paying the maximum in university fees.
When asked about convenience and location, half of students said that being close to their place of study was very important.
The condition of the student property was also an important consideration for many with modern interiors with better furnishings and bigger social areas being some of the most sought-after additions.
According to the survey, the students liked a property best if it was in the right location, was a good size and was close to amenities as well as their friends. Respondents also mentioned that the social aspect of housing was an important consideration when looking at a student property.
One student who took the survey said: Living with friends and having a nice landlord thats what makes a student house a home.
by: FreshStart Living
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