Home Values and School Quality: The Connection

It’s Back to School season: The time of year where, whether you have school age kids or not, school  is on the brain. School supplies and clothes are everywhere you look and there is a fresh feeling in the air that is reminiscent of new beginnings.

And the fact is, whether you have kids or not, if you are in the market to buy a home, school should be on your mind.

If you are thinking of buying a home, or have ever bought one in the past, you know that a lot of factors go into choosing just the right property. The look, the size and the home’s proximity to everything from restaurants and shopping, to your place of work, are all important. But as you consider your options, be sure that you don’t overlook another important factor: school district.

It turns out that the quality of the school district or neighborhood schools does have an impact on home values.  According to a recent article from Trulia.com “One out of five home buyers said they would pay six to ten percent above their budget for the right school.” And what’s more, “One out of ten would double that to twenty percent.”  Statistics of this kind lead to consumer demand and sought after neighborhoods.

But what if you don’t have kids, or you don’t intend on sending your kids to the local public school? School district quality is still important.  The fact is that you are likely to eventually sell the home. And when you do, the quality of the neighborhood schools will impact the value of the home. Good schools, whether your family directly uses them or not, create stable neighborhood and communities and increase your home’s resale value.

So if you’re in the real estate market this back to school season, make a smart move and remember to factor in school district. Websites like Great Schools can be a useful tool to evaluate a district or individual school. Also, websites like Zillow can be helpful and don’t forget to investigate the district’s own website, where you can find all kinds of useful information about extracurricular opportunities and school culture. And of course, be sure to talk to contact Andy Sather Real Estate, where we can help you navigate all of you real estate questions and concerns.

Andy Sather Real Estate, contact us today.

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