When buying a house there are a lot of features to consider, from housing type to the number of bedrooms, bathrooms, location and more, however, one thing that many people seem to overlook, especially if they don’t have children is the school district the home is in. If you don’t have kids, or if your children are grown, chances are, you aren’t concerned with the district your home resides in but would rather focus on the neighborhood and home features that fit into your personal wants and needs, however by ignoring the district you could risk losing a substantial amount on your investment.
Related: Should I Buy in A Gated Community?
When purchasing a home, you want to do your best to make sure that your investment is protected and one of the best ways to do that is to purchase a home in a highly rated school district. On average, homes that reside in desirable districts increase in value by up to 8%. Buyers looking for houses will often pay more than $50 more per square foot for a house that is within their desired school district. Additionally, property value is generally boosted for homes that are near schools as well, thus adding even more to the home’s value.
While the school district shouldn’t be the only factor involved when purchasing a home, should you ever choose to sell your house later down the line, your home will be more desirable to more buyers, driving the list price, and thus sale price, higher than that of homes nearby that reside within a different district. In addition to the value of your home, and thus, resale value, by purchasing a home near a school you are giving future buyers the opportunity to expand their networks with other parents of school-aged students, volunteering within the community etc. which can make your house look even more appealing.
Related: What to Look for in the Perfect Neighborhood
Purchasing a home should be an exciting time, and while purchasing within a desirable school district does indeed add extra value to a home, help to protect your return on investment, and help boost your re-sale value potential, there are always other factors to consider when it comes to purchasing a home which is why it’s vital to work with a trusted agent who can take all of your wants and needs into consideration while showing you properties until you find “the one.”
If you’re currently searching for a new home, are ready to sell your home and need a qualified seller’s agent to assist you, or if you have any further questions regarding Coastal Real Estate, please feel free to contact our office at any time.
