Many people searching for a home often overlook one important piece of information that could impact their family’s quality of life and the home’s potential resale value. According to the Village of Morton, “There are several reasons why one should consider the performance of local schools when purchasing a home. Although potential buyers may think this only applies to people with children, that isn’t necessarily true.” Here are some things to consider:
1. You may live there longer than you originally planned
A couple searching for a house may not have any children or may have a young baby, but in 6 years they could have a child entering into the school system. If they did no prior research, they may be disappointed to find out that the school their child is zoned to attend does not meet their standards. Furthermore, middle schools and high schools should also be considered. Although a family may think that they will be moving long before high school, sometimes plans change. Adolescence can be one of the most trying times in a person’s life, and the challenges of a student attending a lower performing middle or high school could prove to be stressful for the whole family. Think ahead if there is any chance at all that you may have children in the next neighborhood you live in. Not sure what you’re looking for in a school district? Read more on how to check out an education system here.
2. Your children may benefit from having options
It is also important to consider what kinds of options exist for education in the school district where a home is located. The U.S. Department of education explains the types of schools and options children may be entitled to here. There may be charter or magnet schools in the area that can enrich a student’s education. Some private schools can also be reasonable options if they are affordable and offer a higher quality education. If you have multiple children, it’s important to consider that schools aren’t one size fits all, and that while one child may prefer to attend a public school and play varsity sports, another may find they feel like a failure in the same school and flourish in an arts or technical magnet school. It is important to consider every individual’s unique needs and learning style.
3. Homes in high performing school districts have added value
You may pay slightly more for real estate in areas with nicer schools, but benefits can make up for the cost. Even if you don’t have children, you can’t ignore the fact that homes in better school districts tend to retain their value better than other homes, even in a financial downswing. You could find this as a major plus when it comes time to sell and even make it a major point in the marketing of your home. Yes, you may see slightly higher property taxes while living there, but potential buyers will be more attracted to your property whether they have kids or not. You just might find you have a bigger pool of offers to choose from as a result.
As you can see, the quality of the local school district should be one of many items to consider on your home comparison checklist. Although it may or may not ultimately impact your decision when purchasing a home, at least you can buy as an informed homeowner and avoid surprises later on.
