When searching for a new home, there are a lot of factors for you to consider like price, amenities, neighborhood, square footage and of course school districts. Whether you have a full clan of children or no interest in kids, the right school district matters when buying a new home. In fact, according to the National Association of REALTORS®, 25% of home buyers listed school quality and 20% listed proximity to schools as deciding factors in their home purchase. Here are four reasons why:
1. Good Neighborhoods
A good school district or even an individual school’s high ratings tend to equal a good neighborhood, basically establishing the location. Even if you don’t have kids, you know when it comes to real estate, it’s all about location, location, location.
2. Price Stability
Home value can go up or down based on local economic changes, but a great school district can help protect you from real estate market fluctuation, adding strong value in good times and acting as a life preserver when the market is rough. It’s basically a safer bet to buy near a good school.
3. Good For Resale
Living in a good school district doesn’t just bring better teachers and better test scores — it also brings faster resale rates. It’s a fact that homes in good school districts tend to sell faster than homes in lower rated school districts. On the downside, homes in better school districts tend to be more expensive and buyers will likely pay higher property taxes, with much of that money going to the schools. If you don’t have kids, those extra taxes can be frustrating, but buying in a good school district usually works in your favor in the long run. Real estate never comes with a guarantee, but it’s certain that parents will always want the best school they for their children.
4. The Best Education for Kids
Last, but not certainly least, are the benefits of a good school district for parents who do have children. So, how can you tell if your potential new home is in a district that makes the grade?
-Consider the age of the schools, the condition of their facilities, the student-to-teacher ratios and standardized test scores (yes, even if almost everyone hates them.)
-Visit the schools own websites, which can include a wealth of information.
-Check out ranking AND read parent reviews: Scores and rankings add value insight, but they don’t paint the whole picture. It’s important to find out what families who currently have kids at the school feel is being done well and what could use some work. Speaking of work, we’ve done some of it for you! Below are three of the best websites that can help you make the right school district and home buying decision. Just click the links below to start researching and feel free to call, text or email me anytime you have real estate questions!