Often, choosing to live in a high scoring school district gives students in your household the chance to have the best teachers, academic programs, extracurricular activities, and higher test scores. These become factors when it comes to continued education, but how important are they when it comes to the home buying process? Let’s take a look at things to consider.
What if you don’t need a school right now?
Even if you don’t currently have students in your household, school zones should be something that you consider when buying a home. Areas with high scoring school zones typically help to maintain the value of your property, and they have a positive impact on your home’s value should you decide to sell down the road.
So, is a high scoring school district the most important factor?
That isn’t always the case. Keep in mind that there are various things considered when a school or school district is scored. This scoring may not take into count the ratio of students to teachers. If you do have students in your household, consider how much time you’re going to spend interacting with the teachers and other staff. The school districts goals and values should match your own as closely as possible.
Take a look at the overall statistics of the schools in the area, ask people in the community about the schools, and do your own research. You may be surprised at what you’ll find.
Schools do impact the price of houses.
One of the things considered when scoring a school district are the test scores. Typically, schools in better districts produce stronger test scores. These districts are often found within more affluent areas, and this brings up an interesting debate about which is responsible for the other. Do the excellent schools create good neighborhoods, or do the good neighborhoods create excellent schools? Either way, you’re going to find an obvious connection between the two.
When looking at houses in areas with excellent schools, keep in mind that the asking prices could be higher. You may pay more for a smaller home in a high ranking school district than you would in an area that is lower in ranking.
What about the community?
Excellent schools are a valuable resource for a community. They tend to produce graduates with higher test scores. These graduates go on to further their education at some of the top Universities and Colleges. A percentage of those who’ve gone on to receive a higher education will come back to the community and bring their skills, talents, and influence. These professionals will buy homes and raise their own families within the community. In this way, high ranking schools add a sense of stability and add to the growth of the area.
You should be ready for the demand.
People want to live in areas with better schools. This increases the demand for houses in those communities. This can mean fierce bidding wars and a greater need to compromise. Many people are willing to compromise on home size, amenities, and proximity to their jobs in order to live in an area with better schools. This is where you’ll want to have a real estate agent on your side that is skilled in negotiations. When there are multiple offers on the table, you want someone who knows exactly what is needed to get your offer the attention it deserves. The current lifestyle and the future value of the house may depend on these negotiations.
The bottom line is…
You should consider the schools in the area when you’re looking to buy a home. Your real estate agent can provide you with valuable information, and you should do your own research. Understand that there are other people who are more than willing to pay high prices to ensure the future of the students in their households. Know your competition when it comes to placing your offer on the table.
Call The Jamie Mixon Team today at 985-277-1063 to set up a time to tour available homes for sale in the area.
