“I always advise clients to support the school in their neighborhood even if they don’t have children,” says Huston. “It will help children and bring up the value of their own property.”
Weighing the cost of buying in a higher-priced school district
In addition to a higher resale value, buying in a good school district can save on the costs of a private school.
“Many of my clients sold their homes to take their kids out of private school and to move into a great school district, says Huston. “They felt that they would rather support public school and pay it into their house mortgage, than pay it to a private school.
“The higher home costs of a top district are worth it when you factor in the cost of private schools, says Thomas. According to the Digest of Education Statistics 2010, National Center for Education Statistics report the average cost is $8,549.”
Do your homework
To gain a full understanding of the school district, broker/owner Nicole Lee recommends looking into the teacher student ratios, testing scores, and any recent school of excellence awards.
Cain says, “One great place to get district information is from SchoolDigger.com.”
“Find your state’s website, which should offer district report cards that will let you compare schools against another,” says Brincks.
“Ask your real estate agent and any personal contacts in the prospective areas, or via Internet posts for opinions. There always seems to be one school or district that gets repeated,” says Thomas.
“Speaking from personal experience as I’ve relocated from Michigan to California then to Georgia within the past year; online resources, like GreatSchools.org, were instrumental in helping me find a good school for my child, like,” says Thomas.
Huston encourages her clients to go to the local school and check it out themselves. She says, “See if there are parents walking their children to school. Are there local businesses that support the school? How crowded are the classrooms? Are you guaranteed a space in the school just by living in neighborhood, or is it so popular that you have to be put on a waiting list or go into a lottery?”
Use this advice when home hunting to make the most out of your investment and increase your resale value—whether or not you have children.
This article was originally posted on the Homefinder.com blog.
