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

20 units available...expand listings


Two Bedroom:
None available at this time

Grand One Bedroom:
None available at this time

Large One Bedrooms:
4th Floor, 11th Floor, 19th Floor, and 20th Floor

One Bedrooms:
5th Floor

Grand Studio:
9th Floor and 21st Floor

Large Studios:
16th Floor 

Studio:
None available at this time

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

Now Available for Rent

16 units available...expand listings

 
Two Bedroom

None available at this time

Grand Bedroom

None available at this time

Large One Bedroom

4th Floor, 6th Floor, 9th Floor,17th Floor, 21st Floor, and 23rd Floor

One Bedroom 

3rd Floor, 6th Floor, 9th Floor, 22nd Floor, and 23rd Floor

Grand Studio

None avaiilable at thus time

Large Studio Floor

13th Floor

Studio

5th Floor, 12th Floor, and 17th Floor

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