Whether you have kids or not, it’s a good idea to consider the school districts in the area you are looking to move. Buying a home near a good school district can have a variety of benefits for both you and your home. While it doesn’t have to be your number one priority during the home buying process, it should still be an important factor to consider during your home search.
The Future
Think about your future—will you have kids? Is your new home going to be permanent or temporary? Is this a “starter” home or “forever” home? This can help you decide whether the school district will be a deciding factor in your home buying search.
If you are planning to have children someday, it’s important to think about what school districts are located near your soon-to-be home. When you do plan to have kids, you’ll be happy that you picked a home in a school district that helps ensure a good education for your kids. This also allows you to avoid the hassle of having to move again in order to find the right home in the right school district for your children to attend.
In order to find the right school district in your area, you can use online resources to help you during the decision process and narrow down your home search.
School finder & comparison websites:
http://www.neighborhoodscout.com
https://k12.niche.com/rankings/
Better for resale
If the home that your buying is only temporary, whether it’s your “starter” home or you simply plan to move again in the near future, living near a good school could be a smart choice. Being located in a good school district may have an impact on the value of your home.
According to Trulia, “Homes in good school districts tend to sell faster than homes in lower-quality school districts. And during tougher economic times that trigger declines in home values, homes in better school districts usually hold their value more than homes in lower-quality school districts.”
It’s important to think about the resale value on your home, even before you make the purchase. You never know when you will be downsizing, upsizing, or will need to move for your job. Knowing that your home could have a better chance of selling in the future is one less worry down the road.
Protection from market’s ups and downs
With the housing market always fluctuating from year to year, it’s never certain how well your home will keep its value. Fortunately, choosing a home in a good school district might help protect you from the market’s ups and downs.
Fox Business says, “Markets turn faster and harder these days, as evidenced by the past credit and housing crisis and the recent upswing in sales. Buying in a strong school district can help protect your home’s value in a declining market. It’s basically more of a “safer bet.”
Buying in a good school district might be a “risk” you should be willing to take, especially with the continually changing housing market. It’s important to consider how much school districts affect real estate prices. While you could end up paying more initially, it might pay off more than you think when it comes to selling your home.
Choose what makes sense for you
While there can be a variety of pros and cons to buying a home in a good school district, it ultimately comes down to what is most important to you and what matters most when buying your home. It’s important though, to think about other factors outside of just the home itself when making your decision. Keep in mind what your future looks like, and what plans you have as a homeowner.
Want to find out other important features you should consider when shopping for a new home?
Check out these recent articles on Lennar.com to help you narrow down your home buying search.
