Yes, it’s true, that school districts directly affect home value. Schools in nicer districts get better reviews and more funding, which encourages families to buy a home in that area. In less impressive zones, the value of a home may drop if the school is rated badly. The reputation and funding of a public school have a direct correlation with the area around it and for good reason.
Many families want their child’s school to educate them properly, so they will invest in homes zoned within districts that have great schools. They will pay more for a home in a good district, and move to areas ranked within the best school districts. Whether you’re buying or selling in an area, districts that have great schools is a good way to gauge the value of a home.
Before selling or buying a home, ask yourself the necessary questions regarding the school district and the surrounding neighborhood.
When Buying a Home:
If you have children still in school, it is important to answer a few questions about where you want them to attend school. Are you planning to send your children to public or private school? What experience are you looking for from your child’s school? Does the school have art/music programs? Are they ranked or have a reputation of being known as one of the best school districts in the area? Are there good sports programs at the school? How long do you plan on staying in this school zone? Living in a city with great schools is always a major factor to consider while in the real estate market.
When selling a Home:
Is your home a family-friendly house? Who do you feel will be most likely to buy your home – will they be parents, newlyweds, or single people? Does the zoning for schools matter in relation to your buyer pool? If your home is located in a great school zone this would be strong factors to point out during an open house or to a prospective home buyer that’s currently active in the real estate market.
Does the area have private schools? What are the differences between the private/public schools? Is the private school more popular? Does your child need individualized attention? How does the private school rank compared to your local school district?
Is your child autistic, wheelchair-bound, blind/deaf/mute, or otherwise disabled? Do they need special care? Can the public school offer that care, or do you need to go to a private school? Many states offer financial assistance so be sure to check that out. Also, some of the best school districts have programs that may be able to help. Check with them. Visit our blog: Best Places in the US to Live if Your Child has Special Needs for more information on schools that cater to children with special needs.
Next level education:
If you have a child in high school or college, look at the next level education in the area. Are there community college options nearby? What are the local universities like? Are there in-state colleges that your child is interested in? These are all very important to consider while in the real estate market.
While it isn’t directly related to the school district, you should also look into the resale value of your home. Even if you anticipate this being your forever-home, it’s important to be prepared in case that changes. Knowing the area and the home values in the neighborhood where you want to buy, can work in your favor should you ever want to sell.
If you have children or plan on having kids, making sure they get a thorough, healthy education is necessary for their growth and development. Finding a home that has great schools within the area is a good way to encourage their education, and chances are it will increase your home value too.
Looking for places to start? Here are 5 best school districts to increase home value:
- Solon City School District, Ohio.
- Tredyffrin- Easttown School District, Pennsylvania
- Radnor Township School District, Pennsylvania
- School District of Clayton, Missouri
- Dublin City School District, Ohio
You can also start off by determining which states have the best scores for education by reading: Best States for Education, and narrow down your chosen city from there.
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