Young parents who are buying their first home may be tempted to go for something in a less than stellar school district. After all, condos and homes in good districts come at a premium, while the price for homes in neighborhoods with lower-rated school districts seem like a steal. But don’t make the mistake of buying in an area with a bad school district.
Five reasons to buy a home in a good school district:
- Good school districts attract better teachers, offer nicer facilities, and produce higher test scores. These are not only great perks for children but will ensure faster home sale should you ever decide to move.
2. Many buyers say they only search for homes in good school districts. In fact, a recent survey revealed that 35% of parents of kids under the age of 18 say they want to live in a great school district. So, even if you have an empty nest, your home will be better positioned for resale if it’s located in a superior district.
3. Homes in better school districts usually hold their value more than homes in lower-quality school districts. What’s more, the amount of time on the market is in reverse proportion to school district ranking. In fact, researchers analyzed home prices compared to test scores of elementary schools across the country. In certain markets, the difference amounted to hundreds of thousands of dollars for similar homes in the same neighborhood.
Home improvement guru, Bob Villa, has this to say about desirability of school district relative to home sale, “9% of buyers say they would pay 11% to 20% above budget. Separately, 17% report they’d pay extra to be close enough that their kids could walk to and from school.”
4. Your circumstances could change. Whether you are making a lifestyle choice to go childless or you would love to have kids someday but have not been able, as Hercalitus said, “The only thing that is constant is change.” So, don’t make a home purchase based exclusively on your current situation.
5. People who pay attention to school district have pride in ownership. In Redlands, where my real estate office is located, schools have been designated California Distinguished Schools 26 times. Three schools have been commended, nominated or designated as National Blue Ribbon Schools. And if you drive through neighborhoods in the city of Redlands, you will notice an overriding sense of pride of ownership, which impacts resale value, not to mention quality of life.
Redlands Real Estate
Keller Williams Realtor Candace Cantu McGloin is qualified and willing to help home buyers and sellers across Southern California. A long-time Redlands’ resident and realtor who specializes in Sunset Hills, she focuses on the cities of Redlands, Highland, Yucaipa, Grand Terrace, and Loma Linda but has done transactions both on the buying and selling side throughout Southern California. To learn more about real estate in Redlands or elsewhere in the Inland Empire, call Candace directly at (951) 201-2443.