If you are one of the parents whose son or daughter have been accepted to Fullerton College but don't live in the area, you are probably wondering right about now where your child will be staying while attending College.
Even just two years ago, the automatic answer would have been "Well, we will find a rental for them" but today, that answer might be very different. Property prices have dropped dramatically and interest rates are still extremely low - it might be a very good time for you to get your foot in the door for an investment property. True, your own child will only stay at Fullerton College for a certain amount of time, which is when you will be paying the mortgage (instead of paying for the rent). BUT once your child finishes at Fullerton College, you can rent out the property and then somebody else will be paying your mortgage while you sit back and watch your equity increase.
Whether you buy a Fullerton Condo or a Fullerton Single Family Home depends on what your plans are. If you purchase a Single Family Home, which will typically have at least 2 bedrooms, the spare bedroom(s) could be rented out and your son/daughter could have a room mate (which will help you pay the mortgage now rather than later). The initial investment on a Fullerton Condo might be lower than on a Fullerton Single Family home, however, you also have to figure in the HOA dues over the years. Both property types have their pros and cons.
The lowest priced Fullerton Condos already start at about $100,000! Do the math - as an investment property with 20% down, your mortgage payments might very well be as low as a rental payment! Here's a free Mortgage Calculator tool to help you:
To give you a better idea of what's currently available, here are the Fullerton Condos for sale by price range:
$0 - $100K: 6 (4 of them are in a Senior Complex)
$100K - $150K: 13
$150K - $200K: 7
$200K - $300K: 22
$300K - $400K: 20
$400K - $500K: 13
$500K - $600K: 8
$600K and up: 0
START YOUR FULLERTON CONDO SEARCH HERE!
As far as Fullerton Homes for sale go, here is a detailed summary by price range for active Single Family Home Listings:
$0 - $200K: 3
$200K - $300K: 25
$300K - $400K: 58
$400K - $500K: 36
$500K - $600K: 31
$600K - $700K: 54
$700K - $800K: 48
$800K - $900K: 32
$900K - $1mil: 10
$1mil - $1.1mil: 6
$1.1mil - $1.2mil: 8
$1.2mil - $1.3mil: 4
$1.3mil - $1.4mil: 3
$1.4mil - $1.5mil: 0
$1.5mil and more: 8
START YOUR FULLERTON HOME SEARCH HERE!
I hope you found the information we provided helpful. Questions? Please don't hesitate to contact us!
Thanks so much for visiting our Real Estate blog and stay tuned for more great Real Estate updates! Our business greatly depends on referrals so if you like us, please tell your friends and family about us, it is truly appreciated.
Warm regards,
Stephanie & Shirley
Stephanie Frymyer & Shirley Williams
The S & S Team
"Your Local Property Pros"
562-355-8120 & 310-308-6107
DRE# 01390458 & DRE# 01456658
http://yourlocalpropertypro.com/
Stephanie Frymyer
Realtor, SFR, ABR, SRES
DRE 01390458
Shirley Williams
Realtor, SFR, SRES
DRE 01456658
Main Street Realtors
Thank you for your referrals!
