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The Great Debate: Living On-Campus or Off-Campus?

11 Jan _qstzxtwnxy-sidharth-bhatia

Where you live and who you live with can be one of the most important decisions you make each year. There are benefits and drawbacks of each option, but the best choice varies for each person. Taking stock of what you want in your housing, how you’re paying for it and the various perks it offers can help you find the right spot to call home for the next year.

While residence halls (dorms) are often the go-to for first-year students, they are not mandatory to live in. Apartments and houses are available for incoming students off-campus too, but often you’ll need roommates and finding them when you’ve only been to campus once for a tour can be difficult. But no matter how long you’ve been in school, it’s a decision you have to make every year and a little comparison can only help you make the best choice for you!

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One of the main differences between living on-campus & off-campus is the distance from your classes and buildings you need to visit. Living on-campus puts you in the closest proximity for getting to your classes, going to the co-rec, or making it to meetings with your advisor. Depending on how far you live off-campus this may or may not be an issue. If you live across the street from campus this is basically on-campus. However, if you’re a ways away you’ll have to rely on the buses, biking in, driving (if you’re quite a distance away), or just hoofing it. Unfortunately all of these options become a lot less fun when the weather goes cold.

Comparing prices between on-campus and off-campus can be difficult since there’s a wide range for both choices and difference in how you have to pay for them. On-campus residence halls and apartments are generally going to cost you more than living off-campus. However, the big difference many people neglect is how you pay for them. Payment for your housing (and meal plan) is due at beginning of the semester along with your tuition if you live on-campus. If you live off-campus in a house or apartment you will be making a payment each month. These monthly payments are typically much easier to pay out of pocket rather than having to come up with a whole semester’s housing all at once.

If you’re living off-campus, you’ll also want to pay attention to your utility bills in addition to your rent – a problem that living on-campus doesn’t have as it’s a fixed rate. Paying for things like heat, electricity and internet can bust your budget if you had not factored them in. Additionally your laundry situation can involve many things including nothing in your place, having coin-operated machines, or even the mythical free-to-use machines in a place where you don’t have to pay utilities.

One cost that you’ll have to pay for whether you live on or off-campus is your food. There’s no difference in the rates for meal plans where you live, but if you don’t live close to campus your plans to eat every meal in a dining hall probably won’t end up happening. As previously mentioned, your cost for a meal plan is due up-front at the beginning of the semester. Even if you have a meal plan it definitely won’t be your source for 100% of your food as you’ll probably buy snacks, go out to eat at a restaurant or grab food to go from another source at some point.

Possibly the biggest make-or-break part of anywhere that you live is your roommate. Rooming with someone you never met, or even your best friend, can be extremely difficult. Whether it’s sleeping a few feet from them in a dorm room or just sharing a kitchen and living room in an apartment, roommate issues are a frequent source of contention. While you do have the option to have your own place, it comes at a considerable cost both on and off campus. The showering situation in the residence halls might get a bit of flack but sharing a shower with a few of your friends and not cleaning it properly or often enough can make its own frightful situation.

The last major consideration is whether you plan on being around during the summer for classes, internships/ jobs, or just because. Most off-campus contracts are year-round so if you’re splitting back to your family’s home once classes end you’ll still be paying for your place at school. However, living in a residence hall and having summer classes can put you in a spot in having to find a sublease too. While it’s not usually too hard to find options since so many students would rather have someone sublet from them than have to pay their rent during the summer it’s not always the easiest to find a perfect situation to slide into.

Remember, you can use your financial aid to pay for living both on and off-campus! If you live on-campus you’re billed for housing along with tuition and it is due when classes start. This makes it extremely important to have your aid lined up for the beginning of the semester. If your aid doesn’t cover everything that you owe, you’ll need to find a way to cover the difference or create a payment plan with the Bursar’s Office. Any extra aid above what you are billed (whether you live on or off-campus) will be refunded to you. If you’re living off-campus it’s usually a good plan to put this toward your rent. Paying ahead can be great for lifting any worries for a while, just be sure to get a receipt if you do!

Off-Campus Life: The Good, the Bad, and the Happy Medium

21 Nov

Leah Steppe- Public Relations and Advertising, Peer Counselor
www.purdue.edu/mymoney

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Deciding where to live while you’re in college is a big decision for most. It’s your home away from home. There are hundreds of different living options while you are in college house, apartment, duplex, or dorm. One way to narrow down your search is to answer one simple question… Do you want to live on or off campus?.

To help ease the decision let’s discuss pros and cons to living off campus.

Distance

Pro: Many housing options (house, apartment, duplex) are considered off campus but are actually within walking distance to campus.  Living within walking distance can be great for students who want to live close (especially students who don’t have a car) but do not want to live in the dorms.

Con: Living off campus can mean living OFF campus, be careful what you look for. Although, many residency options are close to campus, there are just as many that are not within walking distance and require additional transportation… Most places around Purdue University are less than 10 miles or closer to campus so the drive really isn’t bad. Check out our article “Is It Worth It to Own a Car In College?” to see if you can afford the cost of transportation or for ideas on other means of transportation, some apartment complexes even have their own shuttle service.

Cost

The cost of living off campus can be significantly cheaper than living on campus, but it’s all about how and where you live.

Pro: Living off campus can be cheaper if you live in the right place. Typically, living further off campus can save you money on rent but your transportation costs may increase.

Photo By DrJunge

Typically, the nicer the apartment (i.e more amenities) the more expensive it is so you have to be careful. Living in a smaller place with more roommates can also save money by spreading the costs of living with more people (not just rent, but utilities, transportation, and food too). You also have the ability to buy and make your own food which means you can save a lot of money if you shop wisely. If it is your first time on your own or you just want to learn how to cook for less check out “Suiting Up Your Kitchen” or “When Raman Just Isn’t Enough, Why you Should Cook!”to learn quick tips on setting up your kitchen and cooking more than out of a box.

Con: Living closer to campus can be more expensive because you have the luxury of living close to classes, food, and entertainment. Living in a nicer, larger apartment with many amenities can be more expensive as well. The cost is greater because the demand for those apartments will be higher and real estate is all about location location location.

Space

Zami student housingPro: Moving out of the dorms means having a lot more space. When you live in an apartment or a house you usually have your own bedroom which means no more sharing a bedroom. You also could have your own bathroom or one you share with 1 or 2 other people, which is better than a whole floor of people. Almost all apartments or houses are going to offer more space than a dorm, just be sure to do your research.

Con: You may end up paying more for that space though if you choose to live in an apartment complex with lots of amenities. The fewer roommates you have, the more space you have, but you typically end up paying more for a 2-bedroom apartment versus a 4-bedroom apartment. Also, it costs money to heat and cool all that extra space too, something you didn’t have to account for when living in the dorms and the heating bill can really add up in the chilly Indiana winters.

Lease

Signing a lease means you are locked into living in that space for as long as the lease says, unless you sublease your place. Most leases around Purdue University are for a full year which means you are responsible for paying rent even when school is not in session.

FDR signing paperPro: This can be a good thing for those students taking summer courses, working on or around campus for the summer, or if you just want to get away from home for a while.

Con: It can be a hassle though as a lot of students will go home during the summer which means paying rent for a place you are not even living at.

Deciding where to live while you are away at college is a big decision. Make sure you do some research before choosing a place because once you sign that lease it is difficult to get out. Here are some resources to check out for help in finding the right place for you:

  • Boiler Apartments
  • Purdue Housing Fair: Takes places once a semester on campus. Several apartment complexes hand out information about their apartments and free stuff! Dates will be announced at beginning of each semesters.
  • Purdue Off Campus Housing

The right place is out there for everyone whether it’s on campus, off campus, right next to campus, or somewhere in between. Just be sure to find the right fit for you and remember there are pros and cons to living on and off campus. When you find the right place it will not be a dorm, apartment, house, or duplex it will be your home.

Renters Insurance: Pros & Cons

13 Sep student-housing-ww

Chris Bibey is the founder of Finance.info, a website providing personal finance advice from the pros.

No matter if you are renting an apartment as a college student or a single family home as a young professional, you are going to have many financial decisions staring you in the facestudent-housing-ww.jpg.

One of the most important questions you have to answer is this: Should I purchase renter’s insurance or opt against this coverage for the time being?

Like any sort of insurance policy, you need to compare the pros and cons to ensure that you are making the right choice. Upon doing so, you will have a better idea of how to move forward.

Pros

Most people soon find that the advantages of buying renter’s insurance greatly outweigh any perceived downfalls. Here are several benefits you don’t want to overlook:

  • It is affordable. While home insurance can often times be expensive, this is not the case with a renter’s policy. For approximately $10-$15 per month, you can receive up to $50,000 of personal property coverage. These numbers are rough estimates, but give you a good idea of just how affordable a policy can be.
  • The ability to add liability coverage. In addition to coverage for your personal property, liability protection is a big deal. For instance, if somebody is hurt on your property or your dog decides to bite a neighbor, you will be protected.
  • It’s easy to obtain: Plenty of companies offering high quality renter’s insurance. Regardless of where you live, you won’t have a difficult time finding an agent who can provide you with the policy you are looking for. Investigate your current auto or life insurer, they too can have renter’s insurance policies and bundling insurance policies could save you more money.Acer Laptop

Cons

Generally speaking, there are not many disadvantages of renter’s insurance. However, here are a couple of things to keep in mind:

  • Deductible: Like any insurance policy, there will be a deductible attached to this coverage. This is the amount you will pay out of your own pocket before your policy kicks in.
  • Another monthly expense: Although renter’s insurance doesn’t cost a lot, this is an expense you have to add to your budget. Can you afford it?

Now that you understand the pros and cons of renter’s insurance, it is time to decide if it is right for you.

If you rent an apartment or home, this is a relatively cheap type of policy that can provide you with personal property and liability protection. Most agree that carrying some sort of coverage would be in their best interest. How do you feel about this?

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