News Summary
LeAnne Carswell, a South Carolina real estate agent, has purchased a townhome for her son attending Clemson University, amid rising tuition and living costs. As college expenses climb, more parents are choosing to buy properties for their children. Carswell’s new townhome, just minutes from campus, offers a financially sound option compared to high rental rates affecting students. With ongoing trends in student housing, including a significant new development project, families are navigating the complexities of affordable housing for college students.
South Carolina – LeAnne Carswell, a real estate agent from South Carolina, has invested in a townhome to provide her son with housing while he attends Clemson University. As tuition and living expenses continue to rise, more parents are exploring home purchase options for their college-bound children.
Carswell’s son, who initially began his college education at a sister school of Clemson University, was accepted into Clemson as a sophomore. In his freshman year, he experienced campus living in a dorm with three roommates. Afterward, he approached his mother in the fall of 2024 to begin searching for housing for the upcoming 2025 fall semester, as many of his peers started their apartment hunts early.
The estimated housing costs for the 2025-2026 school year at Clemson University are projected to be $8,904. Many students eyeing off-campus housing have found high rental rates; for instance, a new high-rise near the university lists monthly rates between $1,000 and $1,200. Carswell opted against these prices, leveraging her experience in real estate to consider more sustainable and financially sound options.
Previous encounters in her real estate career indicated a growing trend of parents purchasing properties for their children during college years. Carswell had previously assisted in selling a home for parents of a senior at Anderson University, who ultimately profited by renting it out during their ownership.
In her property search, Carswell discovered a fully furnished townhome located in Pendleton, South Carolina, about 10 minutes from Clemson. This property was listed by a Clemson soccer coach who had acquired it for $225,000. Carswell made a cash offer and purchased the townhome for $227,000. The townhome features three bedrooms, two-and-a-half bathrooms, a one-car garage, and a total living area of 1,523 square feet, with all bedrooms and laundry facilities located on the upper level.
Initially, her son traveled back and forth between campus and the new townhome, which remained vacant for two months following his return home. Despite her advice to remain cautious about signing leases without thorough consideration, her son’s friends opted to rent a unit in the high-rise due to concerns about housing availability.
Understanding the market dynamics, Carswell took her time deciding how to manage the rental of the property. Presently, they have successfully rented one bedroom to a friend of her son for $775 a month; however, the smaller bedroom remains unoccupied. As her son continues his studies, Carswell grapples with uncertainties regarding the long-term plans for the townhome after his graduation. She hopes to at least break even or achieve a profit upon selling the property, analyzing ways to avoid incurring potential losses of $12,000 annually while her son remains in school.
The living situation is complicated by broader trends in student housing near universities. Recently, Core Spaces and Kayne Anderson Real Estate announced the start of construction for Hub Clemson, a large student housing project that will add 1,303 beds in close proximity to the university, likely increasing competition in the rental market.
As families like Carswell’s navigate the complexities of housing during college years, the commitment to investing in real estate remains a viable strategy for many, highlighting a continuing need for affordable, student-oriented accommodations.
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Author: STAFF HERE MYRTLE BEACH
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