Incomming Housing at AZCOM

[tln666]

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Hi all. I'm a 3rd year and just wanted to offer all you incomming students to AZCOM a warning about on-campus housing. It's ridiculously expensive for the condition of the places $800 vs. across the street for about $650, very strict about keeping the place flawless, getting ripped off on not returning security deposits over unsubstantiated excuses, feeling like you're in jail because everything's gated and you never see life off campus, no elevators on 3/2nd levels (good luck to all you moving heavy stuff in), loud A/C units in the old bldgs., extra $120 for covered parking in the hottest state on earth, if you're unlucky enough to get the 1st floor-buy some earplugs to sleep/study with, I can go on and on.

My advice, there are some really nice apts. across the street that you can litterally hop across the street to get onto campus from as well as several others being built as we speak. Just look up Phoenix apt. Guide in Glendale area near 59th/Beardsley or the NorthWest area of Phoenix. You don't need the extra aggrevation. My friends living off campus were so much happier.

 

[novacek88]

I stayed off campus for quality and comfort. But I would be lying if I said that staying on campus wouldn't save you money. You only pay for electricity. Your water/trash, cable and internet are free. That's easily $120 right there. The apartments aren't in bad condition either. They are nice but in Arizona, apartments can look like palaces here. The Mark-Taylor apartments like Arrowhead Highlands are very contemporary and nice.

Just to give you an idea. I haggled my way to a great deal off campus. I payed 730 per month for a first floor 800 square foot apartment on the waterfront at the Isle apartments. My cable and internet was $110 dollars combined per month. My water and trash was $15 a month. My natural gas bill was $30 and my electric APS bill varied from 40-90 a month.

Then you have to account for all the mutiple trips back and forth from campus which was 7-15 minutes one way which includes the traffic and stop-lights.

I agree that it is worth staying off campus but realize that you will pay more for it. You are paying for quality. The covered parking isn't that big of a deal. During school months, it's only hot in September and October. It doesn't get really hot until May. And for most people, they leave in the morning and the evening in which the sun isn't really a huge factor anyway.

 

[tln666]

All very true but lets not forget that they make you sign a year contract while they raise the rent by each year. Don't even try to breach contract, that's $200. My understanding is student housing is just that-for students, poor and cheap people like myself. I have to pay $800/mo plus phone, electricity, and to cover-park my car from frying in the 110 degree heat summer and incessant sun in the winter. The apartments are definitely not worth the money I've paid for.

Thanks for your post! I hope people can get a wide variety of opinions so students can formulate their own plans.

 

[San_Juan_Sun]

Just buy a house and quit throwing your (loan) money down the rental toilet.

 

[1viking]

Sorry San Juan Sun,
if you live there for less than 5 years, then you are the one throwing your loan money down the toilet. You see, there are closing costs. Also, you don't even hit your principle during those 5 years. So, you think that you are building equity, when in fact you are just paying off the interest of a loan. That is pretty sad. Sorry to be blunt. When I interviewed there, I was more impressed with the off-campus stuff. They were larger and less expensive. Plus, they do look like palaces. Anyway, I got accepted, but decided to go KCOM because of cheaper rent (well, not the only reason).
c u

 

[San_Juan_Sun]

Sorry San Juan Sun,
if you live there for less than 5 years, then you are the one throwing your loan money down the toilet. You see, there are closing costs. Also, you don't even hit your principle during those 5 years. So, you think that you are building equity, when in fact you are just paying off the interest of a loan. That is pretty sad. Sorry to be blunt. When I interviewed there, I was more impressed with the off-campus stuff. They were larger and less expensive. Plus, they do look like palaces. Anyway, I got accepted, but decided to go KCOM because of cheaper rent (well, not the only reason).
c u

Actually, when we bought our home rates were in the 5% area, and the real estate market was buyer hot. Depending on where you buy, the Valley's property values are skyrocketing (one of my buddies had his appraised value increase almost 10K in less than a year). It's about property values genius, not paying off principal. Looking at the data from our home, a conservative estimate for value will be 15-17K over the next 4 years. Not too shabby, and then we've got a chunk of change for moving expenses and a down payment on a house come residency time. If we decide to do residency here, even better: the previous owners of our home made 40K over the seven years they owned the home.

But hey, if you really want to use your (loan) money on rent, feel free.

 

[irish79]

I have had no problems with on-campus living. The apartments aren't that bad and the noise has never bothered me. I didn't have to pay for cable, internet, phone, water...just rent and electric. If something did break, they were always there to fix it quickly and all was good. Once there were a bunch of bees around and they came IMMEDIATELY and killed them. (In any case, it is MUCH less expensive than back home in Chicago.) Also, they let me keep my stuff there over summer and only charged me half price (something I'm sure the PALACES wouldn't do for you). I also didn't have a covered parking spot last year and it wasn't a problem. It may have been a little warm towards the start/end of the year, but hardly enough to complain (its still hot, no matter what).

However, I think each person is different. I didn't need a huge place to live or a bunch of extra amenities. I like studying in the library and being so close to campus. Whatever you all decide, I'm sure it will work out fine...just keep a positive attitude and don't sweat the SMALL stuff like some people do.

 

[novacek88]

All very true but lets not forget that they make you sign a year contract while they raise the rent by each year. Don't even try to breach contract, that's $200. My understanding is student housing is just that-for students, poor and cheap people like myself. I have to pay $800/mo plus phone, electricity, and to cover-park my car from frying in the 110 degree heat summer and incessant sun in the winter. The apartments are definitely not worth the money I've paid for.

Thanks for your post! I hope people can get a wide variety of opinions so students can formulate their own plans.

A year contract is normal even for people renting. You only get the best deals at apartments if you sign for 12 months or longer so most students sign at least a year lease. You think apartments don't raise their rent each year? Try signing a 6 month lease and when you come back to resign, your rent will be higher. Those apartment rates don't remain stagnant. Also, a $200 lease break penalty is nothing compared to paying over a $1000 for breaking an apartment lease. And the on campus apartments charge you half rent in the summer if you sign a long-term lease.

Regarding your other issues, most people these days own cell phones so you don't have to pay for an additional home line. And why do you need covered parking? You don't even need to drive to school if you live on campus. You can just walk. And if you need to drive somewhere, it will most likely be at night because you will be occupied during the day. And at night, it doesn't matter if you have covered parking. And if you have cloth seats in your car, covered parking isn't even an issue.

I agree that students should live off-campus if they want a contemporary apartment and a sense of privacy. Most people like myself chose to live off-campus because there is something psychologically gratifying by being able to get away from school at the end of the day. But living on campus will save you more money than if you live immediately off campus. Those apartments surround the school aren't nice without a reason; they certainly charge you enough money for rent.

 

[novacek88]

Actually, when we bought our home rates were in the 5% area, and the real estate market was buyer hot. Depending on where you buy, the Valley's property values are skyrocketing (one of my buddies had his appraised value increase almost 10K in less than a year). It's about property values genius, not paying off principal. Looking at the data from our home, a conservative estimate for value will be 15-17K over the next 4 years. Not too shabby, and then we've got a chunk of change for moving expenses and a down payment on a house come residency time. If we decide to do residency here, even better: the previous owners of our home made 40K over the seven years they owned the home.

But hey, if you really want to use your (loan) money on rent, feel free.

I owned a home in Tempe and I was looking at buying a home closer to campus and it wasn't easy. This is what I discovered

1. Housing is expensive in the immediate area unless you are willing to live further from campus. Arrowhead is one of the most expensive areas in all of Phoenix.

2. If you do manage to find an affordable house near campus, it will most likely be older. Older homes require much more upkeep.

3. When you decide to sell your home, you will most like use a realtor and they will charge you 5-6% to sell your home not to mention paying all of the closing costs. It's difficult to sell your home on your own in Phoenix but I'm sure it can be done if you sell it to an incoming student.

4. Homes appreciated much more for previous owners because the boom occurred in the 90's. People who bought their home in the 90's made a ton of money when they resold their homes. And it isn't difficult to understand why because Phoenix was underdeveloped particularly the Arrowhead area back then. When normal development kicked in, their 100K homes were now selling for 200K. But that doesn't mean your home is going appreciate at that level because the area is pretty developed now. All homes in Phoenix appreciate but they won't appreciate at the rate they used to.

I think buying a home is an excellent idea but it doesn't come without it's own problems. Living far from campus can be annoying at times. Dealing with the constant upkeep can be mentally draining and frustrating particularly when you are in school or if you are living alone.

If you can find a well maintained 3 bedroom house near campus (within 5 miles) that was built within the past 10 years for 200K or less, I would say you were lucky. Overall, it depends on the individual's personality. Owning a home can save you a tremendous amount of money but it may not offer the most comfortable lifestyle for a busy student. I have several friends who own homes but they live in Suprise, Peoria, Avondale, Carefree Highway-I 17 intersection. Those homes are really well built but they are far away. For those students, they don't mind the commute because of the money they are saving. But I can't stress enough about peace of mind. If living closer to campus will help enable you to get better grades and not worry about driving all the time, it may be worth renting or living near campus.

 

[San_Juan_Sun]

If you can find a well maintained 3 bedroom house near campus (within 5 miles) that was built within the past 10 years for 200K or less, I would say you were lucky. Overall, it depends on the individual's personality. Owning a home can save you a tremendous amount of money but it may not offer the most comfortable lifestyle for a busy student. I have several friends who own homes but they live in Suprise, Peoria, Avondale, Carefree Highway-I 17 intersection. Those homes are really well built but they are far away. For those students, they don't mind the commute because of the money they are saving. But I can't stress enough about peace of mind. If living closer to campus will help enable you to get better grades and not worry about driving all the time, it may be worth renting or living near campus.

I would agree, with one caveat: a home in good shape built in the last 20 years is just fine, pending a good report on your home inspection. If your foundation is solid (shouldn't be much of a problem in the dry Valley), roof is in good shape (a bigger problem here, some would be surprised at the toll the heat and summer monsoon will take on a roof), exterior, plumbing, and major appliances are in good shape.

For those looking at buying homes, you really have three options:

1. Go to the new developments in Avondale, Surprise, etc. Very nice, new homes. Downside is a 15-35 minute commute.

2. Go east of the school, past 51st Ave, 1-2 miles east of the school. Affordable, although a little older homes here.

3. Go south of the school, anywhere between 1-5 miles south of the school. Several nice neighborhoods here, although as a general rule the further south you go, the more ghetto you get into. The homes in this area get older as you go further south, but there are plenty of good homes (at very good prices).

Don't bother looking in the immeadiate vicinity of the school, unless you have major $$$ to shell out.

I have friends in all three areas above. There are plenty of housing options in each area.

 

[azcomdiddy]

I would agree, with one caveat: a home in good shape built in the last 20 years is just fine, pending a good report on your home inspection. If your foundation is solid (shouldn't be much of a problem in the dry Valley), roof is in good shape (a bigger problem here, some would be surprised at the toll the heat and summer monsoon will take on a roof), exterior, plumbing, and major appliances are in good shape.

For those looking at buying homes, you really have three options:

1. Go to the new developments in Avondale, Surprise, etc. Very nice, new homes. Downside is a 15-35 minute commute.

2. Go east of the school, past 51st Ave, 1-2 miles east of the school. Affordable, although a little older homes here.

3. Go south of the school, anywhere between 1-5 miles south of the school. Several nice neighborhoods here, although as a general rule the further south you go, the more ghetto you get into. The homes in this area get older as you go further south, but there are plenty of good homes (at very good prices).

Don't bother looking in the immeadiate vicinity of the school, unless you have major $$$ to shell out.

I have friends in all three areas above. There are plenty of housing options in each area.

I think Avondale and Surprise are too far but Peoria is really nice. I would look into Peoria. That's where everything is being built including the hockey and football stadiums. Plus the commute isn't too bad.

 

[jhug]

i really enjoyed living on-campus...the apt was great minus the loud pharm students that moved in above us half way through the year🙂 it was great to sit down, plug in your phone, computer. and tv and have it work instantly!
as for buying...i love our house!!! it has increased in value suprisingly fast (4mo) and as for closing costs...that's what buyers are for...if the market keeps up as it is, there is no way we are paying anywhere near half the costs...
as a disclaimer i do agree with the OP in that the apartments are way to $$, i know that is what apts go for in the area but come on...this is on-campus housing for poor, struggling students...they shouldn't charge so much.