Consider Public Education

What type of impact can schools have on property values?  

When buying a home, one of the most common questions is, ‘How do good or bad schools affect home values, and what type of impact do they have?’

Schools are so important to buyers in our area. Fortunately, our area has some of the best schools in the state, which is why so many decide to buy homes in the area.

Countless factors influence the decision to buy a home. The neighborhood, size of the home, outdoor space, upgrades, and location play a significant role in impacting one’s decision-making. Among those important factors, school districts have played an increasingly significant role in influencing buyers’ decision-making around purchasing a home.

Although those most interested in strong school districts tend to be families with young children or those planning on having children in the future, purchasing a home in a solid school district is beneficial for those who do not plan on having children as well. 

Economists have estimated that a five percent improvement in test scores in suburban neighborhoods can raise home prices by 2.5 percent, according to The New York Times. Of course, test scores are only one way of designating an area as a “good school district,” other factors should also be considered, but test scores are a highly quotable measure.  

Many buyers considering buying a home in an affluent school district may be willing to spend more on a home to avoid the monumental cost of a private school, which can be as high as $40,000 or more per year in some areas. Although purchasing a home in a strong school district may mean paying a higher price for that home, it is still sometimes cheaper than investing in the costly expense of a private school.

Every child has unique needs when it comes to securing a fulfilling education. Some may thrive in a competitive environment, whereas others may feel intimidated by their peers. In addition to weighing test scores, classroom size, and student performance, it is also important to consider the school’s environment to ensure it has a strong support system that advocates for student wellness. 

If you do not have children and do not plan on starting a family in the future, it is still beneficial to consider homes in strong school districts, as your home’s value will most likely continue to rise after purchasing it as a result of the school district. 

The many benefits of working with Stovall Team include consulting on districts, administrations, after-school programs, and other education-related questions. Stovall Team will also be able to advise whether or not you are overpaying for a home in a strong school district and if you have an appropriate list price in mind when considering selling your home.

Call Stovall Team 714.343.9294 today if you are ready to find the home of your dreams in a great school district.