When buying a home, there are many things to consider. School districts are among the most important for parents. In fact, the school district in which a particular property is located can actually affect the price of homes in that area. According to Dean Graziosi, many real estate websites now include a rating system for schools in various cities and towns.
A high priced education is considered valuable. Many parents are deciding to take their children out of public schools and put them in private ones instead. School districts that contain these private and even magnet schools will most likely also include neighborhoods where housing comes at a higher cost. This is because parents who can afford to send their children to the private and more elite schools will probably have the money to pay more for a home.
Sometimes parents send their children to the higher priced or more elite schools, but don’t actually live in that particular district. Often times parents will make the decision to move into the neighborhood in order to keep their children in a particular school and to ensure they are still receiving a top-notch education. In fact,as stated in a recent article, even when the housing market goes south, many of the areas where these schools can be found are still able to hold their own.
Often times, parents also choose to move to a certain neighborhood just so their children can attend a specific school. If these more elite schools have waiting lists, parents might begin thinking about the move early.
Another reason parents decide to move into a neighborhood with a great school district is proximity. The closer theparents and children are to school, the easier it I to to work out transportation. Whether the kids walk, ride a bus, or are driven in each morning, the journey to and from school isn’t far and is much easier for everyone involved.
Location matters when it comes to both school districts and homes. As Dean Graziosi points out, homes that are in a school district that has received high rankings will sell for more. Now that it is easy to find school rankings online this trend is even more evident. Likewise, the higher quality schools will often be located in neighborhoods that are considered affluent. Here, home values are also higher.
If you are searching for a home and want to buy in a particular school district, find out what homes are selling for there and decide whether or not you will be able to afford it. In some cases, you can still send your children to the highly ranked schools but you aren’t necessarily required to live in that particular area. Other times you are. The school district and home you choose should go hand in hand.
Check out Dean Graziosi’s website for more information on this and other topics. There you’ll find great house hunting tips as well as information about the latest real estate trends.