Whether or not you have children, the school district should be essential for your home search. Knowing the quality of the local school district should be a factor you consider, in addition to the home criteria, location, walkability, access to highways and public transportation, plus any other criteria that is important to you. A home in an excellent school district can protect your house from market fluctuation and aid in resale value. If you’re embarking on a home search, here are some reasons why you should always consider the school district during your home search and what to look for.
Determine What’s Important to You in a School
If you have children or plan on having children, some factors contribute to a school’s overall experience beyond the ratings and test scores. These factors could include the general environment, parental involvement, teacher credentials and extracurricular activities.
Stable Home Values
Buying a home in a good school district can help increase your home’s value and protect it from market fluctuations. Homes in areas with higher school ratings typically have higher home values. While the market will always fluctuate, a top-tier school district will offer protection from these fluctuations.
Higher Resale Value
If you buy your home during a seller’s market, you may pay above the asking price and above the market price. However, buying in a top-tier school district could help protect your investment and you may be able to recoup those costs during selling. Before you buy a home, it’s always important to consider the factors for resale potential. When it’s time to sell, most buyers will also be looking for homes in a top school district.Â
Assessing the Quality of the School
Online resources, such as greatschools.org, can offer insight into the school’s statistics and state information on the teacher to student reactions and test scores. However, it’s also important to talk to your real estate broker about community and parental involvement and even drive by the school during school pick-up time to see if parents are walking their children home.
Determining the School District
There are usually many schools that are all part of a school district. The school boundaries can be confusing, and homes across the street from each other can belong to a different school. If you prefer one school over the other, be clear on the boundaries, so you don’t mistakenly place an offer on a home just outside the school boundary.
Falling in Love With a Home in a Sub-Par School District
If you find your dream home in an area with a less than stellar public school, it’s not the end of the world. However, it’s essential to research the nearby private schools and understand that the home may not benefit from the same protection from market fluctuations and higher resale value than a home in a top-tier school district will have.
