Why Invest in a Tower Plaza Condo?

Buy v. Rent

Sometimes it can make good financial sense to buy, rather than rent, your child's student housing. Consider, for example, the recent experience of parents who decided to purchase a Tower Plaza condo for their daughter’s student housing rather than rent an off-campus apartment.

The parents purchased the condo here before the beginning of their daughter's junior year at the University of Michigan. Over the course of the next couple of years, their daughter had a roommate whose monthly rent payments helped with meeting the costs of Tower Plaza ownership.

Upon their daughter’s graduation, the parents put the condo up for sale. Although the overall real estate market had declined considerably by that time – due to the struggling national and regional economies – the market for student housing in Ann Arbor had remained relatively strong throughout those years, as it usually does. The parents sold the condo in the fall following their daughter's graduation for not much less than they originally paid.  After accounting for the costs of selling, the parents were able to minimize their net loss to to a manageable amount, which they then deducted from their income taxes for the year.

Please keep in mind the economic context of recent years. In a better time, with a healthier real estate market, the parents’ net loss could easily have been a substantial net gain. The example above can thus be seen to represent what may be close to a worst-case investment scenario.

Of course, this is only one case, and it may not match closely to your own situation. We encourage you to consult with your accountant or other financial advisers to help you make the "buy v. rent" decision. We can also help you plan your student housing stategy, if you wish.


Now Available to Buy

10 units available...expand listings


Two Bedroom
None available at this time

Grand One Bedroom:
None available at this time

Large One Bedrooms:
5th Floor, 13th Floor, and 20th Floor

One Bedrooms:
4th Floor and 23rd Floor

Grand Studio:
None available at this time

Large Studios:
2nd Floor, 3rd Floor and 5th Floor 

Studio:
22nd Floor  

Full descriptions, price, pictures of available units. See details »

Now Available for Rent

17 units available...expand listings

Two Bedroom

None available at this time

Grand Bedroom

21st Floor

Large One Bedroom

2nd Floor, 3rd Floor, 5th Floor, 6th Floor, 11the Floor, and 23 Floor

One Bedroom 

17th Floor, 18th Floor, 19th Floor, 22nd Floor, 25th Floor, and 26th Floor

Grand Studio

None available at this time

Large Studio Floor

None available at this time

Studio

19th Floor

Full descriptions, price, pictures of available units. See details »