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Anyone own property in Tuscaloosa (Gameday/Secondary)
Posted on 12/6/19 at 10:29 am
Posted on 12/6/19 at 10:29 am
Wanted to see how many folks out there own gameday property in Tuscaloosa, and get your take on it. Wife and I have toyed around with the idea of getting one, as hotel prices are off the charts for gameday weekends, and it might be nice to escape for a few weekends during basketball/baseball season. Also, with other fam/guests in tow, it would be nice to have.
We are looking at a few condos 2BR around ~200K. We don't need to be walking distance to campus, considering we're entering the year 2020, and Ubering 3 miles isn't the end of the world.
Would love to hear some of the following:
(1) Property Type
(2) Maintenance Costs
(3) Do you rent it out? AirBnB etc...
(4) How many times a year do you usually use it?
(5) Do you enjoy it? Is it worthwhile?
We've virtually stopped going to all but 1 game a year, mainly because getting to-from Atlanta is a PIA. Combine the fact game times are announced as short as 1-week in advance, and it makes the "do we day-trip it or get a hotel" even dicier.
Simple Math is: 6 games a year (Capital "F" that random one at the end of the season)
2 hotel rooms x $350 X 6 weekends: $4200. We've figured the monthly cost after a ~35% dp will come out to about $900. The spread on the year would be an extra $6,600 to own.
I've looked at historical values of property in Tuscaloosa - it has risen, but has quite plainly capped the past 5 years as student enrollment has leveled off. Plainly, this would be a "enjoyment" investment.
Would like to hear people's thoughts, as it's something if I were to do it, would be before 2020 when Georgia, Miss. State, A&M, and the Barn roll through.
We are looking at a few condos 2BR around ~200K. We don't need to be walking distance to campus, considering we're entering the year 2020, and Ubering 3 miles isn't the end of the world.
Would love to hear some of the following:
(1) Property Type
(2) Maintenance Costs
(3) Do you rent it out? AirBnB etc...
(4) How many times a year do you usually use it?
(5) Do you enjoy it? Is it worthwhile?
We've virtually stopped going to all but 1 game a year, mainly because getting to-from Atlanta is a PIA. Combine the fact game times are announced as short as 1-week in advance, and it makes the "do we day-trip it or get a hotel" even dicier.
Simple Math is: 6 games a year (Capital "F" that random one at the end of the season)
2 hotel rooms x $350 X 6 weekends: $4200. We've figured the monthly cost after a ~35% dp will come out to about $900. The spread on the year would be an extra $6,600 to own.
I've looked at historical values of property in Tuscaloosa - it has risen, but has quite plainly capped the past 5 years as student enrollment has leveled off. Plainly, this would be a "enjoyment" investment.
Would like to hear people's thoughts, as it's something if I were to do it, would be before 2020 when Georgia, Miss. State, A&M, and the Barn roll through.
Posted on 12/6/19 at 10:41 am to ATLabama
I've thought of doing this as well; however, would it be cheaper or make more sense to rent an apartment near campus? If you have friends that you go with you can split the costs
Posted on 12/6/19 at 10:50 am to ATLabama
Outside of the LSU game this year (wreck and president on University), I have found that traffic leaving Tuscaloosa isn't terrible at all.
I can usually walk back to my car and be in Birmingham in less than an hour.
Plus we can stay in a hotel in Birmingham for 120-150 night easily, with way more food options
I can usually walk back to my car and be in Birmingham in less than an hour.
Plus we can stay in a hotel in Birmingham for 120-150 night easily, with way more food options
Posted on 12/6/19 at 11:01 am to UltimaParadox
quote:
Plus we can stay in a hotel in Birmingham for 120-150 night easily, with way more food options
Birmingham is a little too far away IMO. Like it or not, a big part of college football is the drinking/tailgating. To be honest, if it wasn't for all that, I would just stay at home and get my live football fix on Sundays, 15 minutes down the road. Don't want to drink and drive.
I think being close to campus and being able to make a long weekend is the appeal. It's ~6 hours of drivng to and from T-town. If you could pull in Thursday/Friday night and stay as you please... perhaps even watch the Falcons game if they're away and drive back after, is may what push me over the edge. It's definitely a "premium," but, the flexibility is what may push me into it. Plus, it'd give my wife a "project," to refresh and decorate the sucker.
I am curious though, what rental markets are like for T-town on non-gameday weekends... It would have been a no-brainer in 2008, but, with all the new hotels in downtown Tuscaloosa, it's not as easy to think you could have 3 graduation weekends up for grabs
Posted on 12/6/19 at 11:20 am to ATLabama
The wife and I have thought of this as well. We will be sending our son down in the Fall of 2021 but have been season tickets holders since the day I stepped off campus in '93.
Posted on 12/6/19 at 11:45 am to ATLabama
I’ve had at least one kid going to school there since 2012 with my last set to graduate in 2022 before hopefully heading off to UAB Dental School. I wish I would have bought back then, at least I would have had some equity built. You figure an extra $800 a month for all those years really adds up. Good luck finding a place.
Posted on 12/6/19 at 11:54 am to Tidefan44
Yea sending my second through now as a freshman. We kick ourselves for not buying something years ago
Posted on 12/6/19 at 12:09 pm to ATLabama
Had someone tell me Tuscaloosa passed some strange ordinance that doesnt allow people to make short term rentals. She got letters from Tuscaloosa after she rented on Air bnb. I guess the hotels got it passed. I think they somehow excluded some areas from the ordinance, though.
This post was edited on 12/6/19 at 12:12 pm
Posted on 12/6/19 at 12:35 pm to ATLabama
Tuscaloosa property values, IMO, are overly inflated for this size town.
Further there are so many condos and apartments being built there will have to be a supply/demand break point soon, which should lower current property values.
Further there are so many condos and apartments being built there will have to be a supply/demand break point soon, which should lower current property values.
Posted on 12/6/19 at 12:39 pm to ATLabama
Has to be one of the worst times ever to buy property in Tuscaloosa right now. Everything is inflated to hell and back.
Posted on 12/6/19 at 1:21 pm to ATLabama
Go on Tuscaloosamls.com to look
Posted on 12/6/19 at 1:56 pm to ATLabama
I don't have a specific gameday condo, or property near campus, but I do own a rental home in Tuscaloosa. I'll answer your questions, though I don't know that what I own is what you'd be looking for.
1. Single family home in an established subdivision.
2. I'd estimate about $2,000 per year, if we're including lawn care, pest control, etc. More if there's a major fix needed.
3. We're in a unique situation where a family member who is in school at Alabama. We rent it to her and two of her friends. It's a 4 bedroom, and we have access to the 4th bedroom if we need it. We try not to impose on them though.
4. I haven't used it in over a year. Wife goes down there 2 or 3 times a year to visit.
5. It is nice knowing I have a "free" place to stay when I go down there, but like I said I feel like I'm imposing when I do stay there. The tenants don't mind at all though, or at least don't act like they mind. It does sit empty most of the summer, but I rarely have any reason to want to go to Tuscaloosa in the summer. I'm also in Bham so just an hour home, and I'm the type that prefers to sleep in my own bed every night.
This was a house I inherited a couple of years ago, so don't really have much of my own money tied up in it. Just some rehab costs to freshen it up after my aunt died. I also don't go to many games anymore. Maybe one a year, if that. Didn't go to any this year.
1. Single family home in an established subdivision.
2. I'd estimate about $2,000 per year, if we're including lawn care, pest control, etc. More if there's a major fix needed.
3. We're in a unique situation where a family member who is in school at Alabama. We rent it to her and two of her friends. It's a 4 bedroom, and we have access to the 4th bedroom if we need it. We try not to impose on them though.
4. I haven't used it in over a year. Wife goes down there 2 or 3 times a year to visit.
5. It is nice knowing I have a "free" place to stay when I go down there, but like I said I feel like I'm imposing when I do stay there. The tenants don't mind at all though, or at least don't act like they mind. It does sit empty most of the summer, but I rarely have any reason to want to go to Tuscaloosa in the summer. I'm also in Bham so just an hour home, and I'm the type that prefers to sleep in my own bed every night.
This was a house I inherited a couple of years ago, so don't really have much of my own money tied up in it. Just some rehab costs to freshen it up after my aunt died. I also don't go to many games anymore. Maybe one a year, if that. Didn't go to any this year.
Posted on 12/6/19 at 2:12 pm to The Spleen
quote:
Had someone tell me Tuscaloosa passed some strange ordinance that doesnt allow people to make short term rentals.
I see houses on AirBNB a good amount in Tuscaloosa - I would definitely check the veracity of that before buying anything. It's honestly a deal breaker.
As for the "cost," I think having a property I would use and could eventually send my non-existent kid/kids to someday would be worthwhile. All my friends are now settling down, and lavash weekend trips are probably a thing of the past now. A lot of them still go to games, and for some of a lot of them, especially those who actually live in Alabama (like Gadsden, suburban Bham, Dothan, etc...) it's the only time I'll ever likely see them.
Going to double check on that airbnb ordinance thing. It could be a double-edge sword. It has to drive the price of condos wayyyyy down, as there is no way to recoup your cost.
If going to games is something I'll continue to do long-term, I think an affordable 2BR is something I'll likely pull the trigger.
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