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

8 units available...expand listings


Two
Bedroom
24th Floor

Grand One Bedroom:
3rd Floor & 9th Floor

Large One Bedrooms:
2nd Floor and 5th Floor

One Bedrooms:
13h Floor

Grand Studio:
9th Floor

Large Studios:
None available at this time 

Studio:
14th  Floor  

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

Now Available for Rent

34 units available...expand listings

Two Bedroom

22nd Floor

Grand Bedroom

2nd Floor, 4th Floor, and 25th Floor

Large One Bedroom

3rd Floor, 5th Floor, 7th Floor, 12th Floor, 13th Floor,17th Floor, 19th Floor, and 23rd Floor

One Bedroom 

113th Floor, 16th Floor, 17th Floor, 18th Floor, 19th Floor, 21st Floor, 24th Floor, 25th Floor, and 26th Floor

Grand Studio

22nd Floor, 24th Floor, and 25th Floor

Large Studio Floor

14th Floor, 15th Floor, 16th Floor, 20th Floor, and 24th Floor

Studio

8th Floor, 13th Floor, 19th Floor, 21st Floor, 22nd Floor, and 24th Floor

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