By Sean Clasby
Where you buy your house in a college town is becoming a necessary first step in ensuring your home will retain its value. In Hamden it is believed by many residents that Quinnipiac students are driving their property values down.
However, according to some real estate experts this is simply not the case. John Cuozzo is the owner of a real estate company in town. He says, “I don’t think you can find a direct correlation between communities that have student housing in them and what prices have done whether they have gone up or they’ve gone down.”
Cuozzo also adds to mathematically find a connection between the two would be “an effort in futility” because there isn’t one to be found. He maintains his company has not had a problem selling a house in a neighborhood where students live.
“Unless you are buying a house directly next to or directly across the street from where that’s obvious. I’m not sure you can make that blanket statement,” Cuozzo said.
Cuozzo defines obvious as having a keg on the front lawn or numerous cars parked in the drive way. According to some residents those are just two of a handful of reasons why folks do not want to live next to students.
Jen Sacco has been a Hamden resident since she took her teaching job at Quinnipiac. She said when her family was looking to buy their Hamden home the realtor would not show them a house in a neighborhood with students.
“She would not show us a house because the house next door to it had just been sold to someone who was going to rent to students and she said I’m not going to show you because it’s not going to be a good investment because it’s not going to retain its resale value,” Sacco said.
She also admits her home has lost value, but says it’s a combination of students living nearby and the housing collapse of 2008.
