As most students rush around trying to locate the best apartment and sign the lease, others are sitting in their living rooms, relaxing.

Many students and their families have sought other alternatives when it comes to living options. Those who do not want to live in an apartment or a dorm have looked into the long-term investment of purchasing a house.

In a time when interest rates are low and it is a seller's market, houses in State College tend to be available for only a few days.

"Anyone who has money to invest in the lower markets are deciding to go ahead and purchase property," said Carrie Williams, realtor for Prudential First Choice Realty in State College. "Our days on the market have decreased. It's phenomenal."

Jon Carpenter (senior-marketing) and his family began sifting through living options when he and his brother both started attending Penn State's main campus a few years ago. They ultimately decided to purchase a house.

"My brother and I were coming up here at the same time and my sister will be graduating high school this year," Carpenter said. "It was easier for them instead of trying to find an apartment or a dorm."

The economy played a big role in their purchase as well.

"In past years we didn't have the interest rates that we do now," Williams said. "There are a lot of people investing."

Carpenter said there are many benefits to owning a house locally.

"It's nice because I don't have to take all of my stuff home over the summer, I can leave all of my stuff here," Carpenter said. "I can paint walls or change carpeting, and I like that freedom."

A year ago, Casey Talmas and her roommate decided to make the move into an apartment that her family members own for similar reasons.

"I couldn't wait to get out of the dorms," said Talmas (junior-women's studies and American studies).

"My aunt and uncle own the business underneath the apartment, so it was different because I didn't have to go out and get it."

While company-owned apartments can offer a close walk to campus, a fitness center or a computer lab, living further away has its benefits as well.

"I would kind of like to live downtown, because I live so far away now, but I have a lot of room and a lot of parking along with it," Carpenter said. "There are many benefits about living here."

His father has since bought two more houses to rent out to students since his first purchase.

"My dad is always looking to invest in new things and he figured real estate is a great investment," Carpenter said.

There are a lot of investors, both locally and far away, Williams said. People call from all over, and one customer from New Jersey has bought several properties from her company.

"It's like my own home away from home," Talmas said. "I like having my own kitchen where I can cook for myself, and I like knowing I have great landlords who are dependable."

Williams is currently working with a couple that is purchasing property for their son who is coming to school in the fall.

"After he is finished, they will probably rent it to others," Williams said.

Purchasing a house is a great investment if you have the money, Carpenter said. He is planning to follow his father's investment system in the future.

"I will probably do it," he said. "It is a win-win situation."